Gnosis Safe to Airdrop 21K Tokens as It Aims to Strengthen DAO

Gnosis Safe has announced that it will distribute its native token, SAFE, in an upcoming airdrop. There are a total of 21,935 users of SAFE tokens, therefore an average of 2,279 tokens will be airdropped to each participant. Formerly part of the Gnosis ecosystem, Gnosis Safe is now a standalone company, Safe. Members of the Safe community cast their votes in favor of the establishment of the SafeDAO and the SAFE token.

Gnosis Safe ecosystem and why the airdrop matters

By using Gnosis, users can create multi-signature wallets, lessen their vulnerability to security breaches, and keep their funds in a decentralized location. At the moment, the firm manages assets worth over $38 billion. They are in the process of forming the Safe Foundation in Switzerland. The foundation will manage the company’s IP, GitHub, and investment planning.

The airdrop is a strategic move to support the successful launch of the SAFE DAO. In addition, Safe says that the airdrop will help decentralize SAFE governance, reward engaged users, and spread the word about Safe and SafeDAO. The SafeDAO regulates the Gnosis ecosystem and it uses its SAFE token to distribute protocol rewards to contributors.

This July, the Gnosis team successfully raised $100 million in a strategic funding round. With that money, they created the SafeDAO to govern the SAFE token and the Gnosis ecosystem. Users of the protocol will receive a portion of the protocol’s value distribution through the token.

In an emerging pattern where fraudsters are targeting airdrops, Gnosis tweeted an alert hours later, warning its users of an ongoing drop of bogus SAFEs. It’s possible, though, that the attempted rip-off will fail. The multi-signature wallet by Gnosis runs on smart contracts. This type of wallet requires the signatures of more than one individual before the completion of transactions.