Safe{Wallet} Adds Native Swaps in a New Embedded DeFi Play

Zug, Switzerland – 14 May 2024 – Safe, the leading smart account infrastructure, has announced the introduction of native swaps. This new native token swap feature integrates the CoW Protocol and is built directly into the world's most used multisig wallet, Safe{Wallet}. In Partnership with CoW Protocol, this integration leverages CoW Protocol's advanced aggregation and intent-based architecture to access a vast liquidity pool across decentralized exchanges, offering Safe{Wallet} users low prices and a wide selection of tokens for seamless trades on CoW Protocol. 

Safe{Wallet}'s impressive swap volume – an average of $450 million per month since June 2023 and nearly $1 billion in March alone – highlights the immense demand for seamless asset swaps within the Safe community. Over the last three years, a total of $23B in swap volume has been facilitated through Safe Smart Accounts.

Previously, Safe{Wallet} users seeking to swap tokens were required to navigate to external websites. The integrated swaps feature significantly improves the user experience, fetching quotes across multiple decentralized liquidity sources to ensure users get what they want at a low price by interacting directly with CoW Protocol through Safe{Wallet}.

The feature leverages an intent-based swap mechanism that supports batched execution and minimizes the likelihood of errors or expirations common with multi-signature transactions. This ensures that Safe signers enjoy greater accuracy, peace of mind, and a streamlined token swap experience with MEV protection.  

The current market cycle presents a potential tipping point for smart accounts to surge past traditional Externally Owned Accounts (EOAs) as the preferred solution in Web3. Safe is at the forefront of this transition, demonstrating sustained ecosystem growth. Based on a community vote, the SAFE token was made transferable by Safe{DAO} recently. 

“Native token swaps are a game-changer for Safe{Wallet} users, prioritizing seamless experiences and MEV-protection through an intent-based architecture," said Co-Founder of Safe, Lukas Schor. 

“Safe is the most secure way to own assets,” added Anna George, Co-founder of CoW Protocol. “We share the Safe team’s vision for seamless and reliable transactions. Our collaboration streamlines the swapping process for Safe{Wallet}’s extensive user base while contributing to the continued growth of the CoW Protocol ecosystem.”

To learn more about the features of Safe{Wallet}, visit https://safe.global/wallet.  

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About Safe

Safe (previously Gnosis Safe) is an onchain asset custody protocol, securing ~$100 Billion in assets today. It is establishing a universal ‘smart account' standard for secure custody of digital assets, data, and identity. With Safe{Wallet}, it’s flagship web and mobile wallet, and Safe{Core} account abstraction infrastructure, Safe is on a mission to unlock digital ownership for everyone in web3, including DAOs, enterprises, retail, and institutional users. 

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About the Safe Ecosystem Foundation

The Safe Ecosystem Foundation is a non-profit organization with the mission to support the development of Safe, the strengthening of Safe technology, and the promotion of the Safe Ecosystem as well as the Safe Trademarks. The Safe Ecosystem Foundation owns the Safe Trademarks and organizes, among other things, SafeCon, the project's native account abstraction-focused conference. 

About Safe{Wallet}

Safe{Wallet} stands as the leading wallet for Safe smart accounts and technology, provided as free open-source software under the GNU General Public License, Version 3. For a comprehensive list of attribution notices for third-party software that may be contained in portions of the Safe{Wallet}, please visit https://app.safe.global/licenses. The website https://app.safe.global is operated by Core Contributors GmbH, Berlin, Germany. Safe{Wallet} is a registered trademark owned by the Safe Ecosystem Foundation. The Safe Ecosystem Foundation does not operate any implementations of Safe{Wallet}. Third parties may hold licenses for the Safe trademark and operate implementations of Safe{Wallet} under the foundation's trademark policy available at https://safe.global/trademark and/or other license agreements.  

LEGAL DISCLAIMER

This is not an offer to sell or a solicitation of an offer to purchase any SAFE tokens and is not an offering, advertisement, solicitation, confirmation, statement, or any financial promotion that can be construed as an invitation or inducement to engage in any investment activity or similar. You should not rely on the content herein for advice of any kind, including legal, investment, financial, tax, or other professional advice, and such content is not a substitute for advice from a qualified professional. 

Please note that the use of and access to the Safe{Wallet}, including the native swap feature, is subject to terms and conditions. You should not rely on the content herein for advice of any kind, including legal, investment, financial, tax, or other professional advice, and such content is not a substitute for advice from a qualified professional. The Safe Ecosystem Foundation does not operate any implementations of Safe{Wallet}. The Safe Ecosystem Foundation makes no representations, warranties or covenants with respect to the Safe Technology (or any implementations of the Safe{Wallet} and/or Safe Smart Accounts) or any third party DeFi protocols, as to their technical properties and/or characteristics or performance, or their actual or potential usefulness or suitability for any particular purpose.