Safe Launches Safenet: Bringing $100 Trillion Economy Onchain

Safenet, the groundbreaking transaction processor network from the Safe Ecosystem Foundation, is designed to scale decentralized finance (DeFi) and move the $100 trillion global economy onchain by solving liquidity fragmentation and enabling instant, secure cross-chain transactions.

Zug, Switzerland - 3rd December 2024 - The Safe Ecosystem Foundation, steward of the community behind Safe (formerly Gnosis Safe), announces the launch of Safenet, a transaction processor network designed to overcome major barriers in scaling decentralized finance (DeFi) and move the $100 trillion global economy onchain.

With nearly 10% of Ethereum’s transfer volume already flowing through Safe accounts, there is incredible potential to bring more economic activity onchain, Among the challenges facing the decentralized finance (DeFi) industry is liquidity fragmentation. While recent Layer 2 networks from companies like Coinbase, Sony, and Uniswap have boosted blockchain adoption by enhancing scalability and reducing transaction costs, they also introduce challenges, such as fragmented liquidity across isolated ecosystems and complex user experiences that require multiple wallets and bridging solutions. 

Safe, which has pioneered the adoption of smart account infrastructure to features like multisig, private key recovery, and email login for self-custody wallets, is in a prime position to address liquidity fragmentation at the account level. Safenet will enable instant cross-chain transactions with execution guarantees, allowing anyone to use their onchain assets anywhere, instantly and securely.

Taking inspiration from VisaNet, the payment network powering Visa, Safenet aims to create a decentralized transaction processing network that enables a more unified transaction experience across various blockchain ecosystems. Safenet will be powered by Safenet Processors, which provide execution guarantees ranging from security checks to execution speed. Under the hood, the Safenet Liquidity Network will enable anyone to contribute to Safenet by providing the required liquidity for the Safenet Processors to service users. This liquidity network builds on existing DeFi primitives like DEXs, lending markets, and other liquidity sources.

Lukas Schor, co-founder at Safe said: “Safenet is not yet another Layer 2; it’s a transaction processing network that redefines blockchain interaction. Safenet’s unique architecture allows users to engage with any network or Layer 2 through a single account, a game-changer for DeFi. Our vision is to address liquidity fragmentation and create a seamless, secure, and lightning-fast experience for every blockchain interaction. Safenet’s ultimate mission is to move the world’s GDP onchain.”

For more information about Safenet, visit https://net.safe.global

About Safe

Safe (previously Gnosis Safe) is an onchain asset custody protocol, securing ~$69 Billion in assets today. Released as on open source software stack by the Safe Ecosystem Foundation, it is establishing a universal ‘smart account standard for secure custody of digital assets, data, and identity. Safe is built for the mission to unlock digital ownership for everyone in web3, including DAOs, enterprises, retail, and institutional users

Website, Twitter, Discord, Blog, GitHub, Docs

About the Safe Ecosystem Foundation, Zug, Switzerland

The Safe Ecosystem is a non-profit organisation based in Zug, Switzerland, that helps educate people about Safe smart accounts and promotes Safe technology through the provision of grants and other forms of funding.

Legal Disclaimer

Safenet is currently a research and software development project initiated by the Safe Ecosystem Foundation (SEF). The software is in an early development phase and remains subject to ongoing development and potential changes. No utility regarding the token is guaranteed at this stage. Please note that Safenet will not be directly operated by SEF; its live implementation, particularly the mainnet deployment, is contingent upon decisions made by SafeDAO and may involve third-party participation. All details are subject to governance and further review.

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. 

The Safe Ecosystem Foundation makes no representations, warranties and/or covenants with respect to the Safe Technology (or any implementations of the Safe{Wallet} and/or Safe Smart Accounts) or any program (Grants, Hackathons and/or any other forms of funding) run by the Safe Ecosystem Foundation. 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.