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Safe{Pass}
What is Safe{Pass}?
What is Safe{Pass}?
C
Written by Christoph Sonn
Updated today

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

You can only earn points by actively using your Safe account on Ethereum Mainnet. Currently, the following activities are awarded with points:

  • Transaction count: The number of transactions made with your Safe Account

  • Transaction volume: The USD volume of your transactions with your Safe Account

In the coming weeks we will gradually add more activities that can be rewarded.

In addition, there will be dedicated campaigns that we will announce during the season. This includes campaigns that are run with Safe{Partners}. To stay updated about new campaigns and partnerships follow us on X.

Lock SAFE to boost your points by up to 2x

Participants n the Safe{Pass} activity program can start to lock their SAFE tokens to be eligible for a points boost 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 26, 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

  • When do I start earning points? We’ll make an announcement soon. To stay up to date follow us on X and Farcaster. In the meantime, you can already lock SAFE tokens to ensure you’ll earn an early boost on points

  • 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

  • What rewards can I earn? A variety of rewards will be announced during the season. Follow us on X and Farcaster to stay up to date

  • 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.

LEGAL DISCLAIMER

Please note that residents in certain jurisdictions (including the United States) may not be eligible for the boost and rewards. This means that your boost might not be applied to certain reward types, e.g. token rewards such as Safe and you might not be eligible to receive certain types of rewards.

PLEASE NOTE THAT LOCKING YOUR SAFE TOKEN WITHOUT ACTIVELY PARTICIPATING IN ACTIVITIES DOES NOT QUALIFY YOU TO POTENTIALLY RECEIVE REWARDS.

Please note that participating in the Safe{Pass} Program, collecting points and completing activities DOES NOT GRANT YOU ANY CONTRACTUAL CLAIM TO RECEIVE REWARDS.

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