SafeDAO eyes turning on revenue streams from ecosystem integrations

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The Block2024/08/29 16:00

By:The Block

Quick Take Contributors at SafeDAO have proposed implementing a licensing fee for protocols integrated into the Safe Wallet — aiming to create dedicated revenue streams.

Contributors at SafeDAO, the governing entity of the Safe SAFE -2.65% project, have suggested implementing a licensing fee model for protocols integrated into the Safe Wallet.

This proposal , put forward by the Safe Ecosystem Foundation, marks SafeDAO’s first step toward creating dedicated revenue streams.

The proposal initially focuses on the swaps feature within the Safe Wallet. It forecasts annual revenues of $2.5 million from licensing fees for the native swaps feature, which is powered by CoW Protocol, a collaborator closely aligned with Safe.

"Monetization is now one of Safe's key focus areas. We are working on various value-added services related to improved security and convenience. Many of the services require collaborations with ecosystem partners who are part of the Safe community," a SafeDAO spokesperson told The Block.

SafeDAO governs a smart account infrastructure that secures nearly $60 billion in assets, offering tools for managing cryptocurrency assets across Ethereum-based apps.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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