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SAFE - Claiming Safe Tokens
SAFE - Claiming Safe Tokens
Explains how smart wallet owners can claim and delegate their SAFE tokens.
Stef Codjia avatar
Written by Stef Codjia
Updated over a week ago

On Sep 28th 2022, the Safe team launched SAFE tokens and SafeDao (decentralized organization). SAFE tokens have been attributed to people who have been using their smart wallets (also "called smart contract wallet" or "safe"). Read the official announcement. Claims can be made until December 27th 2022 at 12:00 PM CET

What are SAFE tokens?

The SAFE tokens are governance tokens that stewards infrastructure components of the Safe ecosystem, including:

  • Safe Protocol

    • Safe Deployments (core smart contract deployments across multiple networks)

    • Curation of “trusted lists” (token lists, dApp lists, module lists)

  • Interfaces

    • Decentralized hosting of a Safe frontend using the safe.eth domain

    • Decentralized hosting of governance frontends

  • On-chain assets

    • ENS names

    • Outstanding Safe token supply

    • Other Safe Treasury assets (NFTs, tokens, etc.)

  • Tokenomics

    • Ecosystem reward programs

    • User rewards

    • Value capture

    • Future token utility

Where can transfer or trade (buy/sell) SAFE tokens?

At launch, SAFE is a non-transferable ERC-20 compatible token. Only the SafeDAO can enable the transferability by the means of a successful governance proposal that unpauses the Safe token contract.

The Safe token might be available on secondary markets if its transferability is enabled by the SafeDAO. We do not have any influence on the actual tradability of the Safe token in the future and cannot guarantee that it will ever be tradable on secondary markets.

The future value of the Safe token be influence by the market of participants. The only known things the size of the Safe ecosystem:

How Staker users can claim & delegate their SAFE tokens?

Currently, the safe token can only be claimed via the Gnosis safe interface. We'll soon have a direct way to claim the tokens from the app. ✨

This is the high-level process to claim your safe tokens from the Gnosis Safe interface:

  1. Import your Staker secret recovery phrase (seed phrase) into Metamask web extension (metamask.io)

    1. ⚠️ This is a very sensitive operation. If malicious person or software accesses your secret recovery phrase, you could lose all your funds!

  2. Load your smart wallet into the gnosis web app (gnosis-safe.io/app/)

  3. Connect Metamask wallet to the gnosis interface

  4. Navigate to the claiming page and follow the instructions

  5. E) Claim & delegate (search for "staker" to delegate to us), verify and confirm on the Gnosis web pop-up, verify and confirm the Metamask po-up (make sure to set the GAS Limit @ 200,000 to make sure that your transaction goes through).

Note that only 50% of your Safe tokens can be claimed and delegated at the moment. The rest is linearly vested for 4 years. This aligned with the long-term values of Staker and our users ⏳💪. Hence, you may have to come back again later to further claim, delegate, trade tokens as they vest.

Feel free to check out a great community-made YouTube tutorial. 🎦 Thank you, David!

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