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Gnosis Safe will airdrop fifty million Ethereum tokens to wallets

Gnosis Airdrop
Gnosis Airdrop / Image Credit: CRYPKYP
Source: Decrypt
1660904551 19 Aug / 10:22

Gnosis Safe revealed intentions to airdrop 50 million SAFE tokens to numerous Safe wallets on Thursday to secure its DAO's smooth launch (decentralized autonomous organization).

Smart contracts support Gnosis Safe's multi-signature wallet. A multi-signature or multisig wallet needs multiple users' signatures to complete transactions. Users can connect with decentralized applications and safely store Ethereum and ERC20 tokens using Gnosis Safe.

Gnosis Safe, a former component of the Gnosis ecosystem, changed its name to Safe last month after breaking away from Gnosis. The SafeDAO and the SAFE coin were both approved for launch by the Safe community.

Over 45,000 Ethereum addresses that qualify for the airdrop were listed in a spreadsheet that Safe provided along with the airdrop announcement. Users of Safe who created their addresses before the proposal to start the SafeDAO on February 9, 2022, are eligible for the airdrop.

Co-founder of Safe Lukas Schor noted in the proposal, “By delegating authority over the fundamental components of the Safe ecosystem to the SAFE Token holders, the SafeDAO is enabled to offer value capture and reward programs that accelerate the Gnosis Safe ecosystem flywheel.

Approximately half of the eligible wallets, or 21,935 addresses, will get at least 400 SAFE tokens from the SafeDAO.

Decentralizing SAFE governance, rewarding active users, and increasing knowledge of Safe and SafeDAO are among the objectives of the airdrop, according to Safe.

Gnosis Safe provided a breakdown of the distributions in the notification published on their forum. 10,453 of the 45,025 Safe wallets made before the proposal never completed a single transaction. Nevertheless, 21,935 Safe wallets have SAFE tokens; the biggest of these contains 129,339.85, while the average active wallet has 2279.46.

“[The February proposal] outlined ideas for introducing a SAFE token. Users are given 5% of the overall supply as compensation for their prior donations and consumption, “Tobias Schubotz, a co-founder of Safe, posted in the forum. “Of that 5%, half will be available right now, and the other half will vest linearly over four years.”

Schubotz outlined community ownership as an additional objective.

“In the long run, we want the Safe to be a project that the community drives. Owning a portion of the product they use gives them power, “He composed.

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