Safe{Pass} rewards both new and existing users for their participation and contributions to the growth and security of the Safe Ecosystem. The more ways you interact with your Safe smart account, the more rewards you can earn. From weekly activity to transaction volume, automatically earn points and be rewarded for what you already do on Safe.
The first season will run until September 30, 2024 and is designed to reap benefits for and involve the entire Safe Ecosystem. Participants of Safe{Pass} can get rewarded through any ecosystem wallet built on Safe. Joining through selected ecosystem partners may even come with extra benefits!
To begin, the Safe{Pass] activity program will be live on Ethereum Mainnet, with an expansion to more networks in the forthcoming seasons.
Go to the Safe{Pass} app to get started!
Earn Points and get exciting rewards (coming soon)
You can earn points by actively using your Safe account on Ethereum Mainnet. The following activities are awarded with points throughout the entire season
Transaction count: The number of transactions made with your Safe Account
Transaction volume: The USD volume of your transactions with your Safe Account
Weekly user: You will be rewarded for using your Safe Account on a weekly basis
Assets stored: The USD value of the assets that are stored on your Safe Account
In addition to these activities, more campaigns will be announced during the season. This includes campaigns that are run with Safe{Partners}. To stay updated about new campaigns and partnerships follow us on X and Farcaster
Lock SAFE to boost your points by up to 2x
From today, participants can start to lock their SAFE tokens to be eligible for a points boost or to multiply their points earned through activity in the Safe{Pass} activity program before the rewards season begins.
The more tokens you lock the higher the rewards potential. Being early also matters as it will give you a higher boost to your points. Locking your SAFE tokens at a later stage means you will miss out on a potential boost. The multiplier is applied to points earned with the same Safe account that were used to lock SAFE tokens.
The boost consists of two components, the token boost and the time factor.
1. Token boost
This component depends on the amount of tokens you lock. The more tokens you lock, the higher the boost, as can be seen in the chart below.
2. Time factor
This component ensures that the earlier you lock, the higher your boost will be. After May 20, your potential maximum boost goes down. This means that every day you decide not to lock you will lose your potential boost compared to if you would have done so that day.
3. Total boost
The total boost can be calculated as follows:
Total boost = token boost * time factor + 1
As long as you keep your SAFE locked, the points that you earn will be multiplied by the total boost. If you unlock some of your SAFE tokens, the time factor of the remaining tokens will be reset to the level of that day. In other words, the total boost would then be the same as if you were to lock the SAFE tokens that day.
FAQ
How often are points awarded? Points will be distributed on a weekly basis
What happens if I unlock my SAFE tokens? If you unlock all your SAFE tokens, you won’t earn a boost anymore on your points. If you unlock only a portion of your SAFE tokens, the boost will be reduced. When you unlock SAFE tokens, you’ll have to wait 24 hours before the unlocked tokens can be withdrawn.
Is the locking contract audited? Yes, the locking contract was audited by Ackee and Certora. The reports can be found here
Who are the Safe{Pass} Partners? To get a full overview, go to our Safe{Pass} page
Who are the Safe{Pass} Ecosystem Partners? The full overview can be found on the Safe{Pass} page
Is KYC required to participate in Safe{Pass}? KYC verification is not required to participate in Safe{Pass} or to receive points. However, redeeming certain types of rewards may require KYC verification, particularly if the value exceeds a specified thresholds. This is to ensure compliance with legal and regulatory standards.