GIP-64: Should GnosisDAO distribute SAFE tokens to incentivize decentralizing Gnosis Chain?

[StefanGeorge]

We aim to start distributing SAFE tokens starting when the tokens become transferable. This is likely to happen sometime in November.

[fabian0x]

As the SAFE DAO voted not to unlock the token in November, it’ll likely take a few months until we see a new attempt by the DAO to unlock the token, and it might take longer than February 15 to unlock SAFE.

Shall the 0.9% of all SAFE tokens allocated to the current period be distributed retroactively to all stakers/lockers once the token unlocks?

[StefanGeorge]

The proposal states that all vested tokens until that point will be distributed to the GNO stakers/lockers independent of the transferability of SAFE. So in my opinion, nothing changes other than the date of distribution, which will happen once the token is transferable.

[fabian0x]

Ah thank you, I assumed that the rewards would only start once SAFE is tradeable - then all good!

[hannah5352]

exactly

they should be rewarded

[0xD]

Great question. Stefan has replied to a similarly posed question above:

GIP-64: Should GnosisDAO distribute SAFE tokens to incentivize decentralizing Gnosis Chain?

Safe users on Gnosis Chain are not rewarded with this proposal. GnosisDAO and Safe DAO have a shared pool of 5% of the total Safe token supply, which should be used to incentivize and foster Safe adoption on the Gnosis Chain. Any initiative related to Safes on Gnosis Chain should come out of this budget and would require a separate proposal.

[Developerthing]

@StefanGeorge now that’s not enabled, then when???

[StefanGeorge]

We will have to wait for the transferability event. Otherwise it is not possible to distribute tokens.

[Rabson]

What will happen if 15th February, 2023 pass with out enabling transfer?

[StefanGeorge]

The SAFE tokens will be distributed as decided to the GNO lockers/stakers once transfers are enabled.

[Adam_tosz]

@StefanGeorge

Until mid-February, all staked GNO is treated equally. After mid-February different categories will receive different % of additional SAFE token rewards but it is not decided yet, how the distribution is.

Any update on this? Feb. 15 is approaching fast

[m3rlin5ky]

So do they still have to have their tokens locked to receive the SAFE tokens - after the 15th of February)?

[Developerthing]

Hello @StefanGeorge tomorrow is the unlocking day, and you didn’t publish the addresses that quality the airdrop, and no any announcements regarding that?

What’s your say!!!

[StefanGeorge]

SAFE tokens are currently not transferable as the transferability proposal was rejected by the SAFE DAO: Snapshot

This does not make it impossible to use SAFE tokens as an additional incentive for staking but payouts would have to be delayed until the transfers are actually possible.

There are also more staking providers being onboarded to Gnosis Chain, which will allow the onboarding of many new validators without sacrificing the goal of a decentralized, diverse validator set.

We are working on a proposal to optimally use SAFE tokens to accomplish this goal and we are open to hear everyone’s ideas on this as well.

[Rabson]

How many $safe will each person receive now base on the snapshot taken?

[MCD]

Time to reignite the discussion surrounding SAFE distribution.

As per @danftz’s recent tweet, the proposal to enable the transferability of the SAFE token is probably going to be approved and is expected to take effect around April 23rd, 2023.
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While the process took longer than anticipated, imho it is critical that we adhere to the initial distribution plan outlined in GIP-64.

[StefanGeorge]

GnosisDAO has voted on it and will adhere to the distribution mentioned in this proposal.

[CryptosNF]

I thought I understood from reading the topic that those who hadn’t done LP curve SGNO/GNO wouldn’t get an allowance if they only had SGNO.

But in my attached screen (which is the validated proposal) the last part talks about allocating 9.1% of the remaining SAFE TOKEN, as an additional yield for the different stacking categories?

Could you explain what this additional yield means and how it will be implemented?

Thanks for the explanation in advance

even if I find it sadly impossible to qualify for the safe allocation if you only have SGNOs. but I understand the interest in promoting liquidity !

[StefanGeorge]

After the locking period, the distribution of SAFE tokens has been underspecified and is not implemented or decided on by the GNO holder community. The goal is to use some SAFE tokens to grow the Gnosis ecosystem. There should be a proposal soon. So far only the distribution of SAFE tokens to GNO token holders during the locking period has been implemented and will be executed.

[Rabson]

When will you execute it since the date of transferability is on 23rd of this month.

Please don’t be unprofessional like you did when distributing $cow!
You delayed distribution of $Cow till after over weeks from market launching.

By now Gnosis DAO as a professional expert in this crypto industry ysupposed to make an announcement regarding the distribution dates and many more details