Non-custodial wallet provider Safe unveils security network to turn SAFE tokens into economic good

Safe Foundation, the organization behind one of the most used non-custodial multi-sig wallets, has launched Safenet, a decentralized transaction security network. 

Although released in beta, SAFE token holders can begin delegating their assets to genesis Safenet validators to earn rewards for helping to secure the network.

This marks “the first live economic function for the SAFE token beyond governance,” a Safe representative told The Block. 

Safenet is essentially an added layer of security for Safe wallet users. In short, a network of independent validators evaluates proposed Safe transactions before they execute against a “defined set of security rules.”

The idea is to prevent common security lapses, attack vectors, and transaction errors, like phishing schemes or malicious code deployments. Safe, for instance, has for years displayed an “unexpected delegate call” message when it detects that a bad actor is trying to disguise a false address as a legitimate one. 

“Crypto has spent years building better warnings. That is not enough,” Safe co-founder Richard Meissner, said in a statement. “Attackers have exploited the gap between what users sign and what they intend. Safenet closes that gap at the protocol level.”

Safe is one of the go-to options for institutions looking to hold funds onchain. The non-custodial wallet solution is used by foundations like the Ethereum Foundation, businesses including Circle, and DAOs like Coinage.

The team previously reported that 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. 

How Safenet works

If a transaction passes the Safenet gut check, the validators will issue a cryptographic attestation that can then be checked by a so-called “Safe Guard” smart contract module installed on the user’s Safe account. Those initial validators include Greenfield, Gnosis, Safe Labs, Rockaway, Blockchain Capital, and Core Contributors GmbH.

The Safe Guard is programmed to prevent transactions from executing without that attestation. 

Users, however, will be able to override the Safe Guard “with explicit additional owner approval after a delay.”

Meissner noted that “no single party controls” Safenet. The network was designed to be Byzantine Fault Tolerant, capable of tolerating up to one-third of the validators acting dishonestly. BFT is the classic cryptographic test to determine whether distributed, untrusting actors can reach consensus even under stress. 

Lukas Schor, president of the Safe Ecosystem Foundation, said Safenet derives a portion of its trustworthiness given that there’s “real economic stake behind it.”

Each of the six founding validators have posted a minimum stake of 3.5 million SAFE tokens, worth about $345,000 at time of writing. This in itself transforms SAFE from merely a governance token into a token with utility and economic value, the representative noted. 

A staking UI is live on Thursday, though staking rewards and other considerations like slashing and fee-based rewards are pending approval by SafeDAO, according to the announcement. 

The Safe Ecosystem Foundation reported over $10 million in annualized revenue for 2025, and is nearing profitability, The Block previously reported. 

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