Understanding the Redistribution of Non-Claimed SAFE Air Drops

On March 29, it was reported that the vote on the proposal SEP # 5 of the governance community Safe DAO of the digital asset management platform Safe (formerly Gnosis Safe) on the redistribution of non claimed SAFE air drops was closed at 23:01 today. According to the voting results, half of the unsolicited SAFE Tokens (i.e., more than 16.1 million) that Safe airdrops to users will be proportionally reassigned to the addresses of the previous recipients. The recipients will be able to claim approximately 190.45% of the SAFE Token in the initial airdrop plan. The other half of the more than 16.1 million unsolicited SAFE Tokens will be subsequently voted by the Safe DAO to determine which Safe users to air drop to, for example, for schemes such as air dropping to L2 Safe users.

50% of Safe’s unclaimed airdrop will be reassigned to the previously claimed address

On March 29, 2021, Safe (formerly Gnosis Safe), a leading digital asset management platform, closed the vote on the proposal SEP # 5 of the governance community Safe DAO. This proposal addressed the redistribution of non-claimed SAFE air drops. The results of the voting showed that half of the unsolicited SAFE tokens, which are over 16.1 million tokens, will be proportionally reassigned to the addresses of previous recipients. The remaining portion will be voted on by the Safe DAO to determine which Safe users will receive them. In this article, we will discuss the details of the proposal and its implications.

What are SAFE Tokens?

SAFE tokens are the native tokens of the Safe (formerly Gnosis Safe) network. The platform enables users to store a wide range of digital assets securely in a non-custodial way. Additionally, the platform features a governance community, Safe DAO, which allows users to participate in the decision-making process on network upgrades, tokenomics, and other important issues. Safe DAO recently proposed to redistribute non-claimed SAFE air drops.

Background of the Vote

Safe conducted its first airdrop in January 2021, in which existing users received 100 SAFE tokens. However, a significant number of users did not claim their tokens. Therefore, Safe DAO proposed redistributing the unclaimed tokens among the previous recipients.
According to Safe DAO, this proposal could help distribute the tokens more fairly among users and promote active participation in the platform’s governance process. The redistribution would also allow the community to decide on the future of the unclaimed tokens, rather than leaving them unclaimed and potentially subject to unwarranted selling pressure.

Results of the Vote

The voting results on the SEP #5 proposal showed the support of the Safe community for the redistribution of non-claimed SAFE air drops. Half of the unsolicited SAFE tokens (more than 16.1 million) will be proportionally reassigned to the addresses of previous recipients. The recipients can claim up to 190.45% of the tokens in the initial airdrop plan.
The remaining portion, which is also over 16.1 million tokens, will be voted on by the Safe DAO to determine which Safe users will receive them. The vote is likely to consider factors such as the duration of the user’s participation in the Safe community, the number of previous transactions, and other factors that indicate user engagement.

Implications of the Vote

The redistribution of non-claimed SAFE air drops has several implications for the Safe community. Firstly, the redistribution will help create a more equitable distribution of the SAFE tokens. Secondly, it is likely to encourage more users to claim their tokens and participate in the platform’s governance process. Thirdly, it will enable Safe DAO to decide on the future of the unclaimed tokens, promoting community-based decision-making.

Conclusion

The recent vote by the Safe DAO community to redistribute non-claimed SAFE air drops has significant implications for the Safe network. The redistribution will enable a more equitable distribution of the tokens, promote participation in the platform’s governance process, and enable community-based decision-making. It is essential to watch and see how this redistribution of SAFE tokens will affect the Safe community.

FAQs

1. What are SAFE Tokens, and why are they essential for the Safe network?
SAFE Tokens are the native tokens of the Safe network used for transactions and governance purposes. They are essential for the network’s functionality and enable users to store digital assets securely.
2. How will the redistribution of non-claimed SAFE air drops affect users?
The redistribution will enable a more equitable distribution of the tokens and encourage more users to claim their tokens and participate in the platform’s governance process.
3. What does the Safe DAO community plan to do with the remaining non-claimed SAFE tokens?
The Safe DAO community will decide on the future of the remaining non-claimed tokens, promoting community-based decision-making.