SAFE Voting Power and Circulating Supply

Below, some key facts on the Safe Token (SAFE) distribution and initial voting power / circulating supply.


User: 5%

Purpose: Active users of Safe should become key stakeholders of the SafeDAO governance, proportional to their past activity. This is the distribution that is currently actively being discussed in this proposal.

Distribution: 25M tokens (2.5% of supply) are available right away, another 25M tokens will be vested over 4 years.

Voting rights: Vested and unvested tokens can be used for voting

Ecosystem (Guardians): 5%

Purpose: Besides users, also external contributors are key stakeholders. This includes people actively contributing to our open source components and project teams building their own solution on top of Safe as well as other (non-code) contributions to the Safe Ecosystem.

Distribution: An initial airdrop distributes 25M tokens (12.5M Tokens available right away, another 12.5M tokens vested over 4 years). The remaining 25M tokens will be distributed using future Guardians programs coordinated via SafeDAO.

Voting rights: Vested and unvested tokens can be used for voting

Strategic Raise (Backers): 8%

Purpose: In order to align key strategic partners and industry experts, a strategic funding round was conducted earlier this year.

Distribution: 80M tokens (8% of supply) are vested amongst the 60+ backers over 4 years with an initial lockup of 1 year. Vesting start date is July 8th. So the initial lockup ends on July 8th, 2023.

Voting rights: Vested and unvested tokens can be used for voting

Core Contributors: 15%

Purpose: Reward key contributors and align them long-term. Get the best talent to join the project.

Distribution: 100M tokens (10% of supply) are already allocated to 40+ core contributors, the remaining 50M tokens (5% of supply) is reserved for future core contributors. Tokens are generally vested over 4 years. It is expected that the full 150M tokens are vested by 2030. For the key roles in the project, the token vesting is backloaded. Meaning that these people get very little in the initial years contributing and only get the majority of the tokens if they really end up being part of the project for at least 4 years.

Voting rights: Vested and unvested tokens can be used for voting

Safe Foundation: 7%

Purpose: The Safe Foundation fosters the Safe Ecosystem. It uses its allocation for ecosystem rewards and general ecosystem building activities that require a legal entity as a counter-party.

Distribution: Vested over 4 years. Vesting start date is April 20 (token generation date), with 20M tokens (2% of supply) available right away.

Voting rights: No (technically yes, but commits to not use their share for voting purposes)

SafeDAO Treasury: 40%

Purpose: The main SafeDAO treasury can be used to facilitate further distributions of SAFE.

Distribution: 400M SAFE (40% of supply) is vested to the SafeDAO treasury over 8 years, of which 50M are available right away. Vesting start date is the day of the SafeDAO initiation.

Voting rights: No

GnosisDAO Treasury: 15%

Purpose: Next to being the initial founder and funder of Safe, Gnosis remains an important stakeholder and partner in the future. This is further guaranteed by having GnosisDAO being a significant holder of SAFE Tokens.

Distribution: 150M SAFE (15% of supply) is vested to GnosisDAO over 4 years, of which 10M are available right away. Vesting start date is May 1st.

Voting rights: Only vested tokens can be used for voting (see GIP-29)

Joint Treasury (GnosisDAO <> SafeDAO): 5%

Purpose: This allocation is an experiment in DAO coordination, as it is an amount of tokens that is collectively governed by two DAOs, the SafeDAO and GnosisDAO (imagine a 2-out-of-2 Multisig between those two DAOs).

Distribution: 50M tokens are available right away for the joint SafeDAO<>GnosisDAO treasury

Voting rights: No

Launch distributions

There are allocations that can be used for voting even if they are not yet vested, and other allocations that cannot be used for voting even when they are vested. Also, the exact distribution depends on the launch day of SafeDAO. So below are some calculations assuming today’s numbers. The core contributors numbers are a simplification given the complexity, but are on the upper end of the spectrum (i.e. available tokens are lower).

Voting power

The initial voting power at initiation of SafeDAO looks as follows. Additionally, to our knowledge, no single entity or person holds more than 10% of the initial voting power.

Circulating supply

The circulating supply (distributed and vested tokens) is roughly 190M Safe Tokens (19% of SAFE supply). The sources of the circulating supply are shown below.

Excluding the vested treasury shares, the non-treasury circulating supply makes up around 65M Safe Tokens (6.5% of SAFE supply) and is coming from the following sources.


On behalf of GNO communities am very disappointed with this proposal!
Gno funded Safe and the 15% that was allocated to GNO ONLY 10M will be available immediately while ordinary users will get 2.5X (25M) this is very very unfair!!!
Remember there are a lot of people’s that are eligible for safe Airdrop From GC, those include GNO lockers, stakers, users ETC


Other chain users such as Gnosis chain will get their reward from the 40% allocated to the SAFEDAO Treasury. So, if you’re an active user on Gnosis, you will get your well deserved reward

The 150M token allocated to GnosisDAO of which 10M will be released immediately is more likely to go to GNO lockers/stakers
(I guess GnosisDAO will determine the distribution criteria of this)


Hey, @lukas was wondering if you could clarify how you came to an initial circulating supply of 190 million circulating. By my estimation, 267.5 million is the minimum amount of tokens that will be circulating based on what will be “Available right away”.

Users: 25m
Ecosystem (Guardians): 12.5m
Core Contributors: 100m
Safe Foundation: 20m
SafeDAO treasury: 50m
GnosisDAO treasury: 10m
Joint treasury: 50m

Total: 267.5m, not including initial liquidity

SOURCE: SAFE Voting Power and Circulating Supply


Hey @0xD well done, friend!
I think your computation would have been :100:% correct had it been that the actual initial amount going to 40+ Core contributors is disclosed and not just the total allocated to them (vested and released)

It is true that 100M token (10% of the supply) will go to the current Contributors and the remaining 50M token (5% of the supply) will go to future contributors but not all the 100M and 50M token will go the current and future Contributors at once, rather, it will be vested for 8 years and the vesting will be backloaded meaning that these contributors will get the token in relation to their contributing years. The longer you stay and contribute, the higher token you get.

The actual initial amount going to these contributors is not disclosed in the above guide and I guess this is the reason your calculations goes above the 190 token (19% of the supply) that the team calculated to be the circulating supply at launch.

Initial token going to Core contributors will be 190M - 167.5M = 22.5M


Thank you for this explainer, @CaptainTee. Cheers!


I ` ve known about Safe all.)))))

I think that active users should be rewarded.