Safe is an account abstraction protocol and a multi-signature wallet. In short, it is a smart contract wallet launched in 2017 designed to manage digital assets across multiple EVM-compatible chains such as Ethereum, Polygon, Arbitrum, and Optimism.
Overview of smart accounts
The mission of Safe Wallet: Increase the adoption of smart contract-based accounts. Safe Wallet raised $100 million in a funding round led by top venture capital firm 1kx, with support from over 60 other investors.
Safe data overview:
Total transaction volume: 127 million
Total assets stored exceed 100 billion USD
Total deployed accounts exceed 27 million
Over 200 ecosystem projects built on the Safe smart account standard
Safe Wallet is the flagship wallet built on Safe contracts and has become the most recognized multi-signature wallet, expanding its ecosystem of smart contract wallets.
The Safe ecosystem includes over 100 projects built on Safe. They offer specialized solutions for various domains, including automation (DeFiSaver, Brahma), financial management (Coinshift, Den), DAO tools (Hedgey, Palmera), NFTs (Lore, Castle), and wallets (Rabby, Metamask Institutional), while also covering key projects in identity (Worldcoin) and prediction (PolyMarket) tracks.
Safe modularizes the smart contract wallet toolkit for broader accessibility and usability. Safe{Core} is the flagship development product of the Safe team, serving as an open-source and modular account abstraction stack that integrates Safe smart accounts into any digital platform and provides the necessary tools and infrastructure, ensuring a core part that is tested and has flexible and secure innovative application functionalities.
Most users holding cryptocurrencies like ETH or BNB are accustomed to using single key wallets, commonly referred to as externally owned accounts (EOA). Examples include: MetaMask, Trustwallet, Exodus, etc. The security of these accounts relies on a 'mnemonic phrase' consisting of 12 words, which can be converted into the user's private key. If this private key is leaked in any way, the assets in the wallet may be at risk.
The Multisig.Safe account is a smart contract wallet spanning over 15 chains that requires approval from a certain number of users (M-of-N) before a transaction occurs. For example, if your business has 3 main stakeholders, you can set up the wallet to require approval from at least 2 people (2/3) or all 3 before sending a transaction, ensuring there is no single point of failure.
In addition, Safe gives users complete self-custody of funds, with the deployed smart contracts being trustless and controlled by the users.
The following is an overview comparing Safe with other digital asset storage solutions:
Supports 15+ mainstream blockchain networks
Trusted by many well-known projects
Create a Safe smart account on the browser web page
Creating a Safe smart account on https://app.safe.global/ takes only 60 seconds.
1. Getting started
Access the Safe app (https://app.safe.global/), connect your preferred wallet. Make sure you have some local tokens (like ETH) to pay for transaction fees.
2. Setup process
Name your Safe smart account (local storage only)
Set up multi-signature: Add signer addresses, authorize management transactions
Define confirmation threshold: Set the number of signatures required to execute transactions
3. Deployment options
Choose one of the following methods:
Pay now: Instant deployment, enjoy full features
Pay later: No gas fee for creation, explore features first before deciding to deploy
Use Safe Wallet anytime, anywhere
Securely access your assets through the flagship interface based on Safe Core.
APP Store: https://apps.apple.com/us/app/safe-wallet/id1515759131
Google Play: https://play.google.com/store/apps/detailsid=io.gnosis.safe&pli=1
About Safe
Safe (formerly Gnosis Safe) is an on-chain asset custody protocol that provides security for over $100 billion in assets. This protocol is released by the Safe ecosystem foundation as an open-source software stack aimed at establishing a universal 'smart account standard' for securely custodying digital assets, data, and identity. Safe's mission is to unlock digital ownership for everyone in Web3, including DAOs, enterprises, retail, and institutional users.
