Safe
Crypto Overview
Purpose and Overview
Safe (formerly known as Gnosis Safe) is not a traditional cryptocurrency but rather a smart contract wallet protocol on Ethereum. It enables secure management of digital assets through multi-signature functionality and programmable accounts.
Business Model and Utility
The primary utility of Safe is to provide institutional-grade security for digital asset management through multi-signature wallets, allowing multiple parties to control access to funds. The protocol also enables programmable transactions and serves as infrastructure for decentralized applications.
Real-World Adoption
Safe has seen significant adoption among DAOs, institutions, and large crypto holders. As of 2023, Safe secures over $38 billion in digital assets across various blockchain networks. The protocol has become a standard for secure crypto asset management in the Web3 ecosystem.
Platform Development
The project maintains active development with regular updates and improvements. The Safe team consistently releases new features and security enhancements. The protocol has expanded beyond Ethereum to support multiple chains including Polygon, Gnosis Chain, and others.
Token Distribution and Governance
The SAFE token serves as a governance token for the Safe ecosystem, allowing holders to participate in protocol decisions. Token distribution includes allocations for the community, team, and ecosystem development.
Crypto Impact
To assign a comfort level investing in Safe from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Safe.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.