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With mass adoption comes a lack of friction. Crypto has been building bridges to link itself to TradFi: Coinbase recently launched a credit card in partnership with Visa. The next step? Linking DeFi with TradFi. This is what Safe are working on with Safenet, a transaction processor that’ll streamline blockchain activity. It’s a massive project, so let us explain it:
What’s Safe?
Safe is many things, but primarily the provider of multi-sig wallets:
Multi-sig wallets are wallets that require multiple signatures to make transactions, meaning that they’re secure wallets, ideal for teams or individuals who put their trust in multiple users to manage funds.
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No hacker can simply get into your wallet and sign off a transaction - because they’d need other signatures, too! Other neat features available include direct staking, MEV-resistant swapping, and the execution of batch transactions in the Wallet. At approximately $159M transfer volume in 11M+ accounts, Safe is moving assets plenty. On top of that, other entities such as Polymarket use Safe’s smart account technology to run wallets on their own services.
Safe is a trustworthy entity in DeFi, at the forefront of technology’s evolution.
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They already offer a lot across 15+ networks, but they’re taking their capabilities to the next level with Safenet, a transaction processor network that’ll work with on-chain networks and even off-chain ones, such as CEXs or even Visa. This network will be backed by Processors and Validators who stake the SAFE token, to make sure Safenet is stable, scalable, and decentralized.
You’re not doing the job for free, though. Processors and Validators will receive a portion of fees processed by Safenet as a reward.
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The World’s GDP, Onchain
Safenet’s ultimate goal is to minimize fragmentation, in order to accelerate mass adoption. Powered by a liquidity layer and processors that execute transactions instantly, Safenet will kill three birds in one stone:
Imagine linking your Solana and Ethereum balances, being able to connect your decentralized wallet to centralized exchanges with ease, or even sending crypto to physical cards without much hassle. That’s Safenet’s vision: bringing the world’s GDP onchain.
If this project excites you, users can already sign up for the waitlist at https://safe.global/safenet.
With the Alpha and Beta developing throughout the first half of next year, V1 is slated to go live Q3 or Q4 2025. It’s never too late to be early to the future of a fully decentralized financial system.
Why Octav?
Octav also believes in seamlessly unifying blockchain data, under a single data analytics platform.
With accurate labeling and analysis of your DeFi portfolio, Octav is a helpful tool for CFOs, asset managers, and accountants working in various organizations such as hedge funds, family offices or financial institutions. Thanks to our thorough and accurate database, Octav makes DeFi more accessible, serving as an essential guide for understanding cost basis, profits, losses, and more.
Sign up for Octav Pro today and gain significant advantages for the day-to-day management of your crypto activities: unify all wallets you work with under one bundle to save time and let automated reports send you updates on your organization’s finances without having to analyze it yourself. Monitor your holdings on our Treasury page, and be transparent by sharing it publicly with your DAO members or the rest of your team. Whether you’re the CFO of a business, an accounting professional or a DAO treasury leader, use Octav to make DeFi management a breeze!
