EXCLUSIVE: Safe Foundation, proposed steward of the Gnosis Safe ecosystem, plans to raise $100 million by RyanJamesWeeks
A document obtained by The Block shows that 8% of the total supply of SAFE tokens — a yet-to-be-launched governance token — have been earmarked for sale to strategic investors. The raise would therefore value the project at $1.25 billion.
But the sale will not close unless the Gnosis community — specifically, holders of its native token GNO — approveto spin off Gnosis Safe from Gnosis Ltd, creating a new SAFE token and an entity named SafeDAO to govern it. Gnosis Safe is a popular multi-signature crypto management platform. There are currently more than $107 billion in ether and ERC20 tokens — those native to the Ethereum blockchain — stored on the network.
Lukas Schor, project lead of Gnosis Safe, said the tool has “clearly become critical infrastructure for Web3,” powering both DAOs and centralized exchanges. “In the process of the spin-off we also aim to conduct a strategic token sale. The goal is to get strategic partners on board that believe in the potential of smart-contract-based accounts and have a strategic interest in the Gnosis Safe project,” Schor added.
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