Gnosis Safe Set To Airdrop 50 Million SAFE Tokens For DAO Launch

Republished By Plato

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Gnosis has announced a plan to airdrop 50 million SAFE tokens to Safe wallets. The airdrop will support its decentralized autonomous organization (DAO) launch. The tokens will be airdropped to 21,935 of the 45,000 eligible wallet addresses.

Gnosis Safe announces airdrop

The Gnosis Sale multi-signature wallet needs the signature of more than one person to execute transactions. Gnosis Safe also supports users by allowing them to store their Ethereum and ERC-20 tokens securely while interacting with decentralized applications (DApps).

In July, Gnosis rebranded into Safe, with the members of the Safe community voting on setting up a SafeDAO and launching the SAFE token. Safe also shared a spreadsheet with more than 45,000 eligible Ethereum addresses in the announcement.

The Safe wallet users that created their address before February 9, 2022, are eligible for the airdrop. The co-founder of Safe, Lukas Schor, commented on the development, saying that the SafeDAO would help drive value for the Gnosis Safe ecosystem.

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Safe further said that the airdrop would involve sending at least 400 SAFE tokens to 21,935 addresses, which is slightly more than half of the eligible wallet addresses. Gnosis Safe has also provided in-depth details of these allocations. The company said that out of the 45,023 wallets created before this proposal, 10,453 failed to make any transaction. On the other hand, 21,935 wallets contain SAFE tokens.

The largest Safe wallet contains 129,339.85 SAFE tokens, while the average active wallet contains 2279.46 tokens. These wallets are eligible for the airdrop that will airdrop 50 million tokens.

The proposal tabled in February presented plans to launch the SAFE tokens. The proposal said that 5% of the entire supply would go towards rewarding users for their past contributions and using the wallet to support the ecosystem’s growth.

The co-founder of Safe, Tobias Schubotz, also said that half of the 5% given as rewards would be available immediately. The remaining half would be vested linearly for the next four years.

Airdrop to help set up SafeDAO

The company also added that the objective behind the airdrop was to decentralize SAFE governance, reward active users and raise community awareness of Safe and the SafeDAO.

Schubotz also added that another goal of the airdrop was to achieve the long-term goals of Safe as a community-driven project. It would empower the community to own a product they were using.