SafeDAO Community Updates

News and Events SafeDAO Digest
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SafeDAO Weekly - Feb 21, 2024

Safe DAO Feb 21
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SafeDAO has wrapped up the first wave of the Safe Grants Program (big wins all around!), ratified some key governance updates, and had a deep dive into the future of SAFE token utility. Here’s what’s happened since our last update:

:moneybag:Safe Grants Program

  • The Safe Grants Program (SGP) Wave 1 concluded with a live ceremony on February 12, 2024, showcasing the achievements of its grantees. Initiated with the approval of SEP #6 in May 2023 and the subsequent formation of the Safe Grants Council, the program received 120 applications, ultimately funding 21 innovative proposals with a total of $500,000. Over four months, these grantees, under the guidance of the Grants Council, achieved significant milestones in areas such as cross-chain abstraction, one-tap Safe creation, account abstraction SDKs, and more. Dive into the full roundup.

:ballot_box: SafeDAO Governance:

  • The SafeDAO community has participated in the first OBRA proposal vote cycle, successfully passing all 8 proposals. This paves the way for transformative updates in SafeDAO’s governance structure, including enhancements in delegation processes, more dynamic governance discussions, and the introduction of a comprehensive governance dashboard for better tracking and reporting. Additionally, a new governance framework amendment has been ratified, marking a significant evolution in SafeDAO’s governance approach.
  • New Season, new Sprint! Season 2 Sprint 1 officially kicked off on Monday, February 19th, 2024, and will continue until March 18th.

Keep track of governance dates, events and deadlines with the Governance Calendar. Subscribe to the Safe Community Events Calendar here.

:handshake: Safe Events:

SafeDAO Token Utility Live Discussion Summary (02/15/24)

In response to SafeDAO’s decision in November 2022 to reject the unpausing of SAFE’s token contract which enables transferability and tradeability, a comprehensive roadmap including milestones for revisiting this decision was established in SEP #3. The Token Utility proposal currently in Phase 0 signifies the achievement of Milestone E which focuses on expanding SAFE’s utility. The latest updates on these milestones can be followed on this page.

The recent community discussion centered around the future token utility, exploring innovative applications and strategies to bolster the SAFE token’s role within the ecosystem The discussion spanned foundational aspects of Safe protocol utility, strategic areas for token application, and innovative approaches to enhance user engagement and ecosystem growth.

Here are some key points raised in the discussion:

Resource Allocation Framework:

  • Emphasis on leveraging the OBRA framework to establish processes for resource distribution and token utility implementation.

Token Utility Scope:

  • The proposal highlights some strategic areas for token application without specifying a singular utility.
  • Some focus areas include network abstraction to simplify blockchain fragmentation, username abstraction for user convenience, and payment abstraction to bridge traditional and Web3 payments. A spectrum of possibilities exist.

Token Staking Mechanisms:

  • Staking emerged as a critical mechanism across various utility aspects, including economic security for bridges and service provision.
  • Ideas were introduced by community members around staking for bridging security and other functionalities, emphasizing the need for creative and broad exploration of tokenomics.

Tokenomics:

  • The community sentiment in the discussion leaned towards adopting a more aggressive stance on tokenomics to capitalize on current favourable market conditions.
  • Suggestions for implementing staking models and LP pools as means to incentivize long-term token holding and ecosystem contribution

Safe Activity Program (SAP):

  • Proposal for an activity program to reward active ecosystem participation, potentially funded by unclaimed airdrop tokens.
  • Discussions on expanding the token holder base and incentivizing contributions through token rewards and additional functionalities

SAFE’s Governance Role:

  • Governance remains a key utility for the SAFE token, with community involvement in funding decisions and strategic directions emphasized.

Commitment to Public Goods:

  • Strong advocacy for keeping the Safe Smart accounts as a public good, devoid of direct tokenomics, to foster ecosystem development and trust.

Community-Driven Development:

  • Encouraging a more open and iterative approach to developing token utilities in the future, including hackathons or bounty programs to spur input on the token’s evolution from the community.

Next Steps:

  • A follow-up call is to be scheduled to refine token utility proposals.
  • Community members are encouraged to continue discussions on the forum and contribute ideas for token utility expansion

:lock: Safe Ecosystem Updates:

  • The Safe Protocol has officially surpassed over $80 billion in value of assets locked for the first time, with over 30M transactions! Review the dashboard for more insight on these record-breaking statistics.

:hammer_and_pick: Community Support Channels

:speech_balloon: Stay Connected:

  • Join the Safe community on Discord for regular updates and engaging discussions.

We value your feedback and input - let us know if you find these updates useful and how we can fine-tune them further. Reach out via Telegram (@nneomack) or directly on this forum with your feedback!

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