The Safe Foundation, the organization behind the widely-used non-custodial multisignature wallet, has officially launched the beta version of Safenet, a decentralized security network. Announced at EthCC in Cannes, Safenet introduces a protocol-level security layer designed to validate transactions before they are executed on Safe smart accounts.
The system replaces traditional off-chain warnings with on-chain cryptographic attestations. A network of independent validators assesses proposed transactions against a predefined set of security rules. If a transaction passes, validators issue an attestation that must be confirmed by a "Safe Guard" module installed on the user's account before execution is allowed. This mechanism is engineered to neutralize common attack vectors like phishing, malicious code deployments, and signing errors.
"Crypto has spent years building better warnings. That's not enough. Attackers have exploited the gap between what users sign and what they actually intend to do. We solved that problem at the protocol level," said Richard Meissner, co-founder of Safe.
The network launched with six genesis validators: Greenfield, Gnosis, Safe Labs, Rockaway, Blockchain Capital, and Core Contributors GmbH. Each validator deposited a minimum stake of 3.5 million SAFE tokens, equivalent to approximately $345,000 at the time of the announcement. This staking requirement marks a pivotal shift for the SAFE token, evolving it from a governance-only asset into one with direct economic utility and security functions.
Holders can now delegate their SAFE tokens to these validators to earn rewards, participating in network security without running infrastructure. Staking rewards are pending governance approval via SafeDAO proposals. The network is designed with Byzantine fault tolerance, allowing it to function correctly even if up to one-third of the validators act dishonestly. "No single entity controls the network unilaterally," Meissner emphasized.
Safenet targets the massive Safe ecosystem, which processed over $600 billion in transaction volume in 2025 and has seen users deploy 18.3 million new smart accounts. The protocol's cumulative transaction volume exceeds one trillion dollars, serving institutions like the Ethereum Foundation, Circle, and Coinage DAO. The beta includes checks to block common exploits, with future updates planned to introduce advanced checks, slashing mechanisms, and fee-based rewards.
