A 99% majority vote resulted within the unfreezing of the SAFE token contract for transfers.
After a two-year wait, the SAFE token is now open for buying and selling.
Secure, the most important Ethereum-based multi-signature pockets supplier by variety of wallets, on Tuesday mentioned in a put up on X (previously Twitter), the Secure token contract “is formally unpaused and SAFE is transferable.”
SAFE was down 20% to $2.76 on its first day of buying and selling, in response to CoinGecko. The token’s market capitalization is at $1.17 billion, whereas its fully-diluted valuation is at $2.75 billion. An awesome 99% majority vote resulted within the unfreezing of the SAFE token contract for transfers.
Enhanced Token Performance
A governance proposal on Feb. 13 laid out plans to boost the SAFE token’s performance, constructing upon its present use for governance-related voting.
“SAFE ought to comprise a automobile for attaining the ‘technical, financial, [and] governance decentralization’ of key elements of the Secure venture,” whereas additionally serving as a method to signify the worth that comes from the expansion of the Secure ecosystem, the proposal famous.
The proposal included new potential purposes for the SAFE token. It urged issuing SAFE as a reward to customers of the account system, and it thought of making it in order that “abstracted usernames can solely be claimed through SAFE.”
The proposal additionally talked about placing SAFE right into a module that might act as a “protocol-native insurance coverage fund.” One other use talked about is the mixing of the SAFE token into the deliberate Price Engine.
In 2022, when the group was not in favor of permitting transfers, SafeDAO selected 5 required achievements earlier than reconsidering the token’s transferability. These milestones had been underneath dialogue for the previous yr and concluded with a DAO vote on April 15.
There are a complete of 8.25 million Safes created whereas total-value locked in its wallets totals virtually $100 billion, in response to knowledge queried on Dune Analytics. About 1.4% of all cryptocurrency offers now occur by Secure accounts, in response to Messari Analysis.
OKX Lists SAFE Token
In the meantime, cryptocurrency alternate OKX has listed the SAFE token for spot buying and selling. OKX wrote in a Monday weblog put up that it’s going to function the SAFE/USDT buying and selling pair after conducting an organization assessment.
In 2022, Secure raised $100 million in an funding spherical and the corporate was valued at $1.25 billion. After splitting from Gnosis final yr, Secure gave out SAFE tokens to almost 22,000 folks and began a Swiss Basis.
