Overview
The SafeDAO Governance App was integrated into the Safe{Pass} app/program in April 2024 and has been referred to as Safe{Pass}|{DAO} since then. It enables eligible Safe users to claim their allocated tokens with their Safes and delegate their voting power.
Where can I find the Safe{Pass}|{DAO} App?
You can find the Safe{Pass}|{DAO} App here or in your Safe{Wallet} Apps section
What steps are necessary to claim the allocated Safe tokens?
Educate yourself about the SafeDAO and $SAFE
Set a governance delegate by choosing someone from the delegate list or setting a custom delegate
Claim any amount of the available Safe tokens
Sign and execute your claiming transaction
Is there a deadline for claiming my tokens?
Initial Allocation
No, the deadline for the first user allocation has already passed and you cannot claim that allocation anymore if you have not done so already.
Anybody Safe user who has claimed the first allocation is also eligible for the second allocation defined in SEP#5. You will have to create at least one claim of any amount of tokens until 27.10.23 10:00 UTC or your SEP#5 allocation will be transferred back to the SafeDAO. Once this transaction is successfully executed, you do not have to claim any more tokens.
How are $SAFE Tokens distributed?
You can find a detailed breakdown of the distribution and the initial voting power here. The overview is not taking the SEP#5 distribution into consideration.
Has the Safe token contract been audited?
Yes, the Safe token contract has been audited. You can find the token contract here and the audit here
Why do I have to delegate and can I change the governance delegate later?
As much as we would like everyone to participate directly in the governance of the SafeDAO, we also believe that you should be able to choose a representative to make governance decisions on your behalf.
Custom delegate/address: This can be any address except for the Safe that you are claiming with. We recommend setting the delegate to an EOA wallet to allow for easier and gasless voting e.g. your connected wallet.
Changing the governance delegate: You can always change the governance delegate at a later stage by selecting another delegate inside the SafeDAO Governance App.
What is delegation?
Delegation allows another account or address to yield the voting power associated with your full token allocation (vested + unvested tokens) without taking any ownership over the tokens themselves. You still have the ability to vote with the Safe you delegated from.
Is the Safe Token transferable?
At launch, $SAFE is a non-transferable ERC-20 compatible token. Only the SafeDAO can enable the transferability by the means of a successful governance proposal that unpauses the Safe token contract.
Can I buy and sell the Safe Token on secondary markets?
The Safe token might be available on secondary markets if its transferability is enabled by the SafeDAO. We do not have any influence on the actual tradability of the Safe token in the future and cannot guarantee that it will ever be tradable on secondary markets.
Why can I not claim all allocated tokens and what is vesting?
We want to form a long-term relationship with our users as SafeDAO participants and therefore only 50% of your awarded token allocation is directly available and the other 50% of your token allocation will become linearly available to you over the next 4 years.
Example: You have a total awarded allocation of 100 $SAFE. 50 $SAFE will be directly available to you. At the end of the first year, you will be able to claim a total of 62,5 $SAFE (12.5 $SAFE are vested). At the end of the second year, you will be able to claim a total of 75 $SAFE (25 $SAFE are vested). You can claim vested tokens at any time and the available amount changes with every new block.
Why does claiming $SAFE requires multiple (batched) transactions?
redeem - only required in the first transaction. Initializes the vesting for the allocation.
setDelegate - sets the address that the voting power of your vested and unvested tokens are delegated to.
claimVestedTokensViaModule - only the owner of the Safe token contract can transfer tokens while the token is non-transferable and therefore the transaction is made via a module