Safe Foundation Launches Safenet Security Network, Giving SAFE Token Economic Utility

Safe Foundation, the organization behind the non-custodial multi-signature wallet protocol Safe, has launched Safenet, a decentralized transaction security network that requires proposed transactions to pass a validator check before execution.

The beta release marks the first live economic function for the SAFE token beyond governance, as token holders can delegate their assets to genesis validators and earn rewards for helping secure the network, transforming SAFE from a purely governance token into a network security asset.

Safenet Uses Independent Validators to Block Common Attack Vectors

Safenet operates as an added security layer for Safe wallet users. A network of independent validators evaluates proposed Safe transactions before they execute against a defined set of security rules designed to prevent common security lapses, attack vectors, and transaction errors including phishing schemes and malicious code deployments. If a transaction passes the security check, validators issue a cryptographic attestation that is verified by a “Safe Guard” smart contract module installed on the user’s Safe account. The Safe Guard is programmed to prevent transactions from executing without that attestation.

Safe co-founder Richard Meissner stated that crypto has spent years building better warnings, which is not enough, as attackers have exploited the gap between what users sign and what they intend. He noted that Safenet closes that gap at the protocol level, with every transaction checked against defined security rules before execution by a network that no single party controls.

Users retain full self-custody and can override the Safe Guard with explicit additional owner approval after a delay. The network is designed to be Byzantine Fault Tolerant, capable of tolerating up to one-third of validators acting dishonestly while still producing correct attestations. All attestations are publicly auditable via the Safenet transaction explorer.

Six Genesis Validators Stake SAFE Tokens to Secure the Network

At launch, Safenet Beta includes six genesis validators: Greenfield, Gnosis, Safe Labs, Rockaway, Blockchain Capital, and Core Contributors GmbH. Each validator has posted a minimum stake of 3.5 million SAFE tokens, worth approximately $345,000 at the time of launch. The economic stake transforms SAFE from a governance token into a token with utility and economic value, according to a Safe representative.

The beta launch includes static transaction checks that block common attack vectors including unauthorized or unexpected code execution via delegate calls, installation of untrusted modules, and attempts to modify or bypass a Safe account’s security settings. A staking user interface allows SAFE holders to delegate to validators, and a live transaction attestation explorer provides transparency.

Staking rewards, slashing mechanisms, and fee-based rewards are pending approval by SafeDAO under SEP-55 and will follow in later phases. Lukas Schor, President of the Safe Ecosystem Foundation, stated that Safenet derives trustworthiness from the real economic stake behind it, describing the network as what it looks like when infrastructure finally catches up to the vision.

Safe Protocol Has Processed Over $1 Trillion in Lifetime Value Transfers

Safe is one of the go-to options for institutions looking to hold funds onchain, used by foundations including the Ethereum Foundation, businesses including Circle, and DAOs including Coinage. Users deployed 18.3 million new smart accounts in 2025, averaging a new account every 1.7 seconds. Safe has processed over $1 trillion in lifetime value transfers, including $600 billion in transaction volume during 2025 alone.

The Safe Ecosystem Foundation reported over $10 million in annualized revenue for 2025 and is nearing profitability. The protocol is establishing a universal smart account standard for secure custody of digital assets, data, and identity for DAOs, enterprises, retail, and institutional users.

The long-term ambition is for all value processed through Safe to be secured by Safenet. Safe Foundation is a non-profit organization based in Zug, Switzerland, supporting the development of Safe technology through grants and other funding mechanisms.

FAQ

What is Safenet and how does it work?

Safenet is a decentralized transaction security network that evaluates proposed Safe transactions against a defined set of security rules before execution. Independent validators issue cryptographic attestations for compliant transactions, and a Safe Guard smart contract module prevents execution without a valid attestation, blocking common attack vectors including phishing and malicious code.

How does Safenet give economic utility to the SAFE token?

SAFE token holders can delegate their assets to genesis validators to earn rewards for helping secure the network, marking the first live economic function for SAFE beyond governance. Validators stake a minimum of 3.5 million SAFE tokens each, transforming SAFE from a purely governance token into a network security asset with economic value.

Who are the genesis validators and what is their stake?

The six genesis validators are Greenfield, Gnosis, Safe Labs, Rockaway, Blockchain Capital, and Core Contributors GmbH. Each validator has posted a minimum stake of 3.5 million SAFE tokens, worth approximately $345,000 at launch, ensuring real economic commitment to network security.