Safe launches Safenet, a secure transaction network that converts SAFE tokens into secure staking assets.

Safe, a non-custodial multisignature wallet provider, has launched Safenet, a decentralized transaction security network. SAFE holders can delegate their tokens to six independent validators (including Greenfield, Gnosis, Safe Labs, Rockaway, Blockchain Capital, and Core Contributors GmbH) to review proposed transactions according to preset security rules. Upon approval, the validators issue cryptographic proofs, which, along with the Safe Guard module, prevent the execution of unverified transactions. Each genesis validator must stake at least 3.5 million SAFE, marking SAFE's expansion from a governance token to a staking asset with economic uses. Specific staking rewards, penalties, and fee mechanisms are still pending a vote by SafeDAO.