Safe has announced its new transaction network, Safenet, which offers cross-chain interoperability and RWA revenue sharing with its protocol reaching $785 billion in transaction volume.
The Safe Ecosystem Foundation has announced ‘Safenet’, a new transaction partner network built on the Safe protocol that has reached $785 billion in transaction volume. This innovation will bring together thousands of application-specific transaction partners (co-processors) designed for both on-chain and off-chain transactions, enabling revenue sharing opportunities for millions of dollars in real-world assets (RWA).
The Safe (SAFE) protocol currently holds 6.8% of the entire USDC supply by offering a smart accounting protocol, multi-signature transactions, and abstraction features. Now, Safenet aims to move $100 trillion worth of global gross domestic product (GDP) on-chain by solving compatibility issues between the on-chain and off-chain sectors.
The network also promises to increase cross-chain interoperability for many sectors such as decentralized finance (DeFi), payment systems (PayFi), decentralized exchanges (DEX), and enterprise applications.
On the other hand, according to the information provided, approximately 10% of Ethereum transfer volume is carried out through Safe accounts. It is stated that this situation has the potential to carry more economic activity onto the chain.
Safe Co-Founder: We aim to move the world's GDP on-chain
Safe’s Founding Partner Lukas Schor made the following statement regarding Safenet:
Safenet is not a Layer 2, but a transaction network that redefines blockchain interactions. Users can transact on any network with a single account. Our goal is to solve liquidity fragmentation and deliver a seamless, secure, and fast experience for every blockchain interaction. Our ultimate goal is to move the world’s GDP on-chain.
Inspired by VisaNet
Drawing inspiration from Visa’s payment network VisaNet, Safenet aims to create a more unified transaction experience across the entire blockchain ecosystem by building a decentralized transaction network. The network will work with Safenet Processors, which provide a variety of services from security checks to transaction speed. It will also leverage a range of resources from DeFi markets to liquidity providers, enabling users to receive services via the Safenet Liquidity Network.
Developed as open source software by the Safe Ecosystem Foundation, Safe is an on-chain asset custody protocol that currently secures approximately $100 billion in assets.
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