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SAFE

Traditional web3 accounts are controlled by a single private key, often derived from a 24-word secret phrase. As long as a user owns this private key, they control the account. However, these private keys regularly get lost or compromised, resulting in the complete loss of the assets associated with the account.

Safe, on the other hand, uses smart accounts that can be individually configured to suit the custody needs of different user groups:

• Authentications using multiple private keys (multi-sig) or community-control (DAOs) as well as newer authentication methods like social login and passkeys.
• Modules to build automations into the account, assign spend limits and roles/heirarchies.
• Recovery and inheritance mechanisms with Safe{RecoveryHub}
• Improved transaction experience (transaction batching, gas abstraction)
• Transaction checks and hybrid-custody.

$SAFE is the native ERC-20 governance token that stewards infrastructure components of the Safe ecosystem, including:

• Safe Contracts
• Default Interfaces
• On-chain assets
• Tokenomics

Tokenomics:

• Governance: SafeDAO is governed using the SAFE token (see SafeDAO Constitution). SAFE token holders can vote within the scope of governance of SafeDAO. To find out more about Safe{DAO} governance, visit the resource hub.
• Safe Activity Program: Locking SAFE can boost/multiply the rewards the participants receive from their activity in the Safe ecosystem.
• Future Utilities: As the Safe ecosystem evolves, the design space of utilities for the SAFE token will naturally expand. SafeDAO can vote on the implementation of token utilities and signal the direction of future explorations. The community is encouraged to be part of the exploration and implementation of future SAFE token utilities.

Safe launched on April 20, 2022 with 1 billion SAFE Tokens minted by the Safe Foundation, an independent, non-profit organisation that contributes to the development of the Safe ecosystem. This is the SAFE token’s fixed max supply.

Further details around the initial circulating supply and tokenomics can be found here: https://safe.global/blog/safe-tokenomics