Discussion Thread: Token Transferability

Hey everyone. In recent weeks, discussions about token transferability have been fragmented across various threads. This thread is a dedicated discussion place for token transferability, ensuring that all conversation on this topic is gathered in one place for better clarity and accessibility.

The decision on milestone 5 [SEP #21] SAFE Token Utility is currently up for DAO vote (here), which upon fulfilment will enable the possibility to put the activation of the token contract’s unpause method (thus allowing token transferability) up for a DAO vote. Thus we anticipate a more lively discussion on this topic on the forum.

At the same time, the discussion on token utility continues (here), encouraging everyone to follow and participate in both topics.

Purpose and Background

The thread is aimed to be dynamic, meaning it will be continuously updated with new insights, milestones, and outcomes from official discussions across the forum and in community calls. This thread aims to provide:

1. Background on token transferability: Concept of token transferability and its history within SafeDAO
2. Current state: An overview of the process moving toward transferability, the envisioned timeline, and the current state of transferability discussions.
3. FAQs: An updated list of the most frequently asked questions in the forum, along with preliminary answers.

I. Background on token transferability

Figured it worthwhile to collect some of the key points and ideas here for everyone’s context.

1. Definition - “What does token transferability mean within SafeDAO?”

Token transferability refers to the ability of SafeDAO’s governance tokens to be transferred freely. This means calling the unpause method of the token contract (using the SafeSnap module), which would result in the SAFE token becoming transferable. This feature plays a role in enhancing liquidity and governance participation within the ecosystem.

2. Initial Discussion - “When was this brought up the first time?”

The concept was first discussed in [SEP #2] Community Initiative To Unpause Token Contract (Enabling Transferability)), sparking widespread debate on its implications for the DAO’s governance and operational structure.

3. Process Evolution - “What happened so far?”

After the DAO decided to vote against SEP #2, the DAO went on to decide to follow a milestone-based approach to ensure the planning and implementation of key governance events, before enabling a vote on token transferability with [SEP #3] Towards clarity on milestones before voting on enabling transferability again. The primary reasons included the need for robust governance mechanisms, transparent resource allocation, and clear token utility.

Relevant prior governance elements

  • [SEP #2] Community Initiative To Unpause Token Contract (Enabling Transferability)
    (Thread; Snapshot vote)

  • [SEP #3] Towards clarity on milestones before voting on enabling transferability again
    (Thread; Snapshot vote)

2. Current state

Since the ratification of SEP#2 and SEP#3, there has been significant advancement toward achieving the milestones, reflecting the community’s commitment to a thoughtful and structured approach to governance.

Find an overview of the current state of milestones (here):

3. FAQs

Find below the most asked questions on the forum. This list will be updated dynamically.

Q: When can we expect token transferability?

A: After Milestone 5 - [SEP #21] SAFE Token Utility (here) is completed there is the option for DAO members to put token transferability up for vote.

Q: What do we need token utility for?

A: To ensure the token has a defined role and value within the ecosystem, enhancing governance and participation. More info on day-1 utility and a lively discussion on future uses can be found in the token utility thread (here).

Q: Why has token transferability not already been enabled?

A: The DAO has chosen a milestone-based approach to ensure careful planning and implementation of key governance events, including transferability. The decision of SEP #2 is well-documented in its thread (here).

Q: How does the market sentiment, influence the timeline for SAFE token transferability?

A: The decision to make the SAFE token transferable is based on achieving specific milestones and is driven by community consensus through SafeDAO governance, rather than market trends or past industry events. The focus remains on building a sustainable and secure project for the long term, with token transferability being a carefully considered step in this process.

Q: What is SafeDAO’s response to members concerned about the pace of achieving token transferability?

A: Some community members are eager to see token transferability implemented already. SafeDAO’s members acting through its Safe governance, have chosen to implement a milestone-based approach to ensure careful planning and implementation of key governance events before token transferability can be enabled through a DAO vote. The milestones set and achieved thus far reflect the DAO’s commitment to this vision and the remarkable growth within the Safe ecosystem, even during challenging market conditions, shows signs of validating this approach. The decision of SEP #2 is well-documented in its thread (here).

Q: What does the token utility vote mean for the future of SAFE token transferability? Is this the final step?

A: The (current (date of this post)) token utility vote is a crucial step in the process towards making SAFE tokens transferable, but it is not the final action. Following the completion of Milestone 5 - [SEP #21] SAFE Token Utility (here), DAO members will have the opportunity to propose and vote on the specific matter of token transferability.


This thread purely reproduces public information to facilitate objective discussion on the forum and is inn no way an attempt to communicate a subjective opinion on the token transferability event.


Copyright and related rights waived via CC0.


:tada: Update: All milestones completed

[SEP #21] SAFE Token Utility just ended with a successful vote. This means that all milestones from this proposal [SEP #3] are completed and starting from today a vote on token transferability can be submitted in Phase 0.

Milestone A: “The claim period has passed” - Completed
Milestone B: “An SEP on a constitution proposal has been ratified” - Completed
Milestone C: “An SEP 2 on a governance framework has been ratified” - Completed
Milestone D: “An SEP on a resource allocation framework has been ratified” - Completed in Season 1, Sprint 1
Milestone E: “An SEP on token utility has been ratified” - Completed in Season 2, Sprint 1

Next steps:
With the completion of these milestones, there are no remaining obstacles preventing the DAO from voting on token transferability. Looking forward to further discussion on this topic in this thread.

Hats off to everyone who has contributed to achieving these milestones over the last months! Amazing to see the progress that was made.

(CCing @Andre, taking this post from him :innocent:)


well done, now get the rest of the job done sers

1 Like

How long does it take to convert to voting?

1 Like

Below is the full timeline for this sprint


@Andre @Daniel @bernard @Steven are you planning to publish this proposal for phase 0?


+1 for pushing this to Phase 0


+1 for pushing this to Phase 0


Hi @bernard,

Thanks for kickstarting the Token Transferability discussion. I’m happy to support and (co) author this proposal so we can move it to Phase 0. I will DM you and share an early draft tomorrow!



+1 for pushing this to Phase 0

1 Like

Adding the official Phase 0 proposal of SAFE token transferability here.

Great job @LuukDAO & co! Let’s move over the discussion there the Phase 0 thread.


Adding a link to the recording of the Token Transferability Community Call here

As well as a link to the newly released Token Transferability blog post with lots of additional detail here