Updated template here - [DRAFT] [GF: Phase 1 Proposal] [Updated template] Safe
Project Name: Safe (formerly Gnosis Safe)
Author Name: SafeGuardian
Number of OP tokens requested: 500 000
L2 Recipient: oeth:0x3EDf6868d7c42863E44072DaEcC16eCA2804Dea1
Relevant Usage Metrics: (TVL, transactions, volume, unique addresses, etc.):
For general usage metrics, please see our mainnet Dune dashboard and Optimism dashboard.
Key Mainnet Stats
- $40 Billion in AUM
- 92,000 Safes created
- 752,000 Safe transactions
- 67 apps integrated to Safe App store
Key Optimism Stats
- TVL of ~$1.4 billion based on current OP valuation
- 3,500 Safes created
- 15,170 Safe transactions
- 17 apps integrated to Safe App store
Safe App Store on Optimism
Optimism alignment (up to 200 word explanation):
The Optimism Collective rewards those who create or sustain public goods. The Safe itself is building a public good, multi-sig account that enables users to control their digital assets with granular permissions.
Our aim is to unlock new opportunities for ownership across individuals, DAOs and collectives; and we’ve been building this out on Optimism since our official deployment took place back in December 2021. We chose to deploy to OP because we are aligned on our decentralization values and vision for Ethereum’s path to scalability. Our decision to deploy here was made back in Q2 2021.
We are in for the long haul and we want our ecosystem on Optimism to scale and innovate in a sustainable way. We request additional funds to help further bootstrap this effort.
Proposal for token distribution (under 1000 words):
We are requesting these funds primarily for two reasons:
- To be funded for our continued operation on Optimism
- To incentivize further growth within the Optimism ecosystem, boosting the number of dedicated Safe integrations / projects. This will be done via grants to research and build new features, Safe Apps, social recovery modules and interfaces.
How will the OP tokens be distributed?
The 500k OP tokens will be allocated to the SafeDAO, which will focus the distribution building on the Optimism Ecosystem.
The distribution would need to go through a governance vote, but the following distribution has been proposed via grants:
- 30% OP will be distributed to projects on Optimism that build new Safe-based UIs that leverage our core sdk.
- 20% $OP will be distributed to R&D efforts e.g. improving cross-chain UX with smart contract wallets on OP.
- 15% $OP will be distributed to dapps integrating as Optimism Safe Apps
- 15% $OP will be distributed to the R&D of OP Safe modules/guards which build on top of the Safe’s access control and enable use cases such as Social Recovery.
- 20% allocation to SafeDAO (retroactive reward and software maintenance cost)
How will this distribution incentivize usage and liquidity on Optimism?
With these grant distributions - Defi apps, NFT projects, DAO tooling, core infra and R&D collectives will be incentivized to build and collaborate further with Safe on Optimism.
The building will vastly improve our Optimism UX, incentivising usage, and scaling both projects. Creating a vibrant Safe <> OP ecosystem.
Why will the incentivized users and liquidity remain after incentives dry up?
The Safe solution on Optimism already holds a TVL of ~$1.4 billion based on current OP valuation. Moreover, we envision this TVL, along with our core usage stats, to continue increasing due to:
- Safe’s usability and security on OP improving with more features, research and tooling.
- Additional Safe Apps in the Safe UI create more demand from individuals, DAOs and collectives. Onboarding new users to the app store, and in parallel, creating a portal for OP dapp discovery.
Over what period of time will the tokens be distributed?
12 to 24 months
How much will your project match in co-incentives?
Once SafeDAO is live, it will be allocated a Safe grants budget, which should help match the allocated rewards for builders and researchers.
