[SEP #5] Redistributing Unredeemed Tokens From User Airdrop Allocation

Yeah, I want to ask, will be redemption process begin on July 27th? And we can claim the token on July 27th?

Because I haven’t seen any progress regarding the token redemption, Are you sure?

Isn’t it safe team’s job to do that ?

Yes, here is the announcement we made on the redemption details: [SEP #5] Redistributing Unredeemed Tokens From User Airdrop Allocation - #282

We’ll share instructions how to redeem tomorrow in the course of the day.


Really important to bring this up! The Safe Foundation acts as a steward of SafeDAO and administers the governance process as well as supports with the implementation of proposals. It is not the Safe Foundation that decides what happens with SafeDAO’s resources, in this context what happens with the other 50% of the unredeemed token. We also clarified the role of the Foundation in the Governance Hub under :classical_building: Safe Ecosystem Foundation. If you have a concrete idea @cedricoo, happy to support getting this to a proposal stage.


finally it comes out, glad to see this happen

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[UPDATE: SEP #5 IMPLEMENTED] We are excited to announce that SEP #5 (Redistributing Unredeemed Tokens From User Airdrop Allocation) has been successfully implemented.

What does this mean for you?

If you qualify for the SAFE user allocation as per SEP #5, you now have the opportunity to redeem your additional allocation.

How can you redeem and claim?

  • Access the SafeDAO Governance App : This is where you will carry out the redemption and claiming process. (Note: Redemption is only possible through the Safe web app not the mobile app.)
  • Execute a claiming transaction: You need to create and execute at least one claiming transaction of any amount. There is no minimum requirement. Any claiming will redeem the full additional allocation.

The redeem function enables the user to initialize or accept their individual allocation in the airdrop contract.

IMPORTANT: The window for this redemption is 3 months. The allocation must be redeemed before 27th October 2023, 10:00:00 UTC. Any token allocations that remain unredeemed post this deadline will return to the SafeDAO treasury.

Need more information?

  • For a detailed guide on SEP#5 and the redemption process, here’s the FAQ.
  • For any queries or clarifications on the SafeDAO Governance App, check out our Help Center.

Thank you for stewarding the launch of SEP #5 @Andre!

A quick note for Safe Guardians, Safe accounts used solely to receive SAFE tokens as a Guardian will not receive an additional claim, as SEP #5 is provides additional tokens based on the initial user claim. Accounts used both as the Safe Guardian account and that have received Safe user claimed tokens in the past will show the SEP #5 claim as expected.


To be honest, compared to the fact that SEP5 has not been implemented until now, what is worse is that the milestones mentioned in SEP3 (except Governance Framework) have not made any progress after SEP3 passed, not even any discussion, not a single comment, the enthusiasm of the community It has dropped to freezing point. As @cedricoo said, the team needs to play more of a role and actively promote the progress and discussion of proposals instead of being indifferent to everything. Whether it’s more empowerment for SAFE, or dealing with the embarrassing situation of SEP3, this may improve the mood of the community.


At present, the only role of SAFE is just governance, but seeing such a deserted governance forum, I am quite skeptical about the meaning of SAFE token.


Hi everyone, we wanted to provide some stats concerning the redemption of tokens. Here are the latest figures

  1. Redeemed tokens: A total of 1,920,620 SAFE tokens have been redeemed.
  2. Redemption rate: The ratio of redeemed tokens to the total redeemable tokens stands at 11.93%.
  3. Wallet participation rate: 21.37% of eligible wallets have taken action to redeem their tokens.

Thank you @daniel.p for gathering the data!

We will be sending out regular reminders over the next weeks and months through our different channels. However, the strength of our community is essential! We urge everyone to help spread the word and ensure all eligible participants are informed.


Hello, can you resume discussion around transferability please ?


Update on the latest redemption stats:

Redemption rate: The ratio of redeemed tokens to the total redeemable tokens stands at 16.12%
Wallet participation rate: 25.14% of eligible wallets have redeemed their tokens.

Redemption period ends in 70 days on 27 October 2023.


Hello Andre, what will happen to non redeemed tokens ?

Hi @cedricoo, unredeemed tokens go back to the SafeDAO treasury

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Hi, how do users become eligible for SAFE governance tokens?

Update on the latest redemption stats:

Redemption rate: The ratio of redeemed tokens to the total redeemable tokens stands at 30.56%.
Wallet participation rate: 34.93% of eligible wallets have redeemed their tokens.

Redemption period ends in 42 days on 27 October 2023.


they are all good if you ask me


Is claim the same thing as redeemed?

You need to claim any amount between the start of the redemption period and the end (until 27 October) to redeem the full second user allocation.

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Update on the latest redemption stats:

Token redemption rate: 39.33%
Wallet participation rate: 41.19%

Redemption period ends in 24 days on 27 October 2023.