The Safe TU sprint team is excited to provide another update following our Request for Input posted last month. We just completed Phase 2, where we further specified the submitted Token Utility use cases and evaluated each on their potential to realize value and required resources.
Progress Update
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32 use cases were mapped during Phase 1
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22 use cases remained after combining related use cases
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19 of these use cases scored at least 3 points in 3 out of 4 review rubric sections
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6 use cases scored the highest (15-16 points total) and were identified as sufficiently valuable to move to Phase 3
Phase 3 use cases
1. Safings Account | This is the equivalent of traditional bank savings accounts: It allows users to deposit and earn interest (plus Safe points). Behind the hood, it would deploy into sDAI, stETH, or a low-risk protocol.
2. Vault Marketplace | A marketplace/app store for asset managers (vault operators) to promote asset management services. Safe users can deposit into yield-generating strategies to earn returns without the assets leaving their Safe. Vault operators can stake SAFE to unlock features. The community (Guardians) can help curate the allowed list for vault operators.
3. Safe Premium Account | The Safe (Premium) Account merges selling Safe Domains with additional features (Gas station + potential cosmetic changes) and perks (free use on basic support services and discounts on premium services + potential third-party benefits) to reward Active Safe users (staking + using). This can be seen as an extension of the SAFE passport. The systems would operate with different Tiers, comparable to Crypto.com tiers and Airline loyalty systems.
4. Safe LP Token Staking (80/20) | Creating an 80/20 LP position on Balancer Protocol to utilize as a staking token in the SAFE ecosystem to increase onchain liquidity and trading volume for SAFE. Can leverage existing relationships and programs to improve returns for SAFE Stakers.
5. Advanced App Marketplace | Create a marketplace for Safe Core and UI apps and perks. SAFE can limit the number of core apps per vertical to increase competitiveness and should review these integrations over given periods. Value will be captured on the Safe native UI and a subset of any other solution built on Safe Core.
6. Smart Account Fee Engine (S.A.F.E.) | Mechanism to facilitate value capture for developers and SAFE. The Safe Smart Account could allow developers to charge fees using the Fee Engine, providing simplified fee collection, as well as optimistic finality and reduced gas overhead. Fees could also be shared with other stakeholders, such as referrers.
The Workspace used in Phase 2 can be found here for those interested.
Next Step towards ETHCC
This week, we started Phase 3, in which our group, together with SAFE stakeholders and builders, delves deeper into these six use cases to further validate potential, determine requirements, and scope initial MVP scopes where applicable.
We will wrap up Phase 3 in the next three weeks and can present our final outcomes to the Safe stakeholders around ETHCC in addition to publishing the final reports to the Safe Forum.
Once completed, we’re eager to support and work with teams to progress any Use Cases identified into tangible services and programs.