Gnosis spinoff safe receives $ 100 million for further ecosystem

Gnosis spinoff safe receives $ 100 million for further ecosystem

The administrators of the Ethereum-based Web3 Wallet Gnosis Safe said on Tuesday that they received millions of dollars of financial resources from industry veterans before they want to develop into a full digital asset management platform.

originally designed as an ethereum-based multi-signature smart-contract wallet, gnosis Safe dropped his blockchain namous fucker and renamed a into "safe" Consultation of the municipality be outsourced.

"For the general introduction of Web3 we have to overcome the risks and restrictions of private major customers," said safe co-founder Lukas Schor.

The non-profit organization Safe Ecosystem Foundation-development employee of the Safe platform-has collected $ 100 million for their efforts through a strategic financing round, which is led by the 1KX crypto fund in the early phase.

Both financing and the strategic alliances will help Safe to realize its endeavor to build an ecosystem of applications and tools that should be built on its intelligent contract account protocol, said the foundation.

In the round, which came about when the investments in the industry have suffered a setback in the past few weeks, the industry heavy weights Tiger Global, A&T Capital, Blockchain Capital and Digital Currency Group also joined.

Another 50 strategic partners and industry experts, including Kraken Ventures, GSR, Polygon, Parafi, Lightspeed, Polymorphic Capital and SuperScrypt, also took part.

In particular, Safe has developed from a multi-sig application that was developed to use more than two parties to save user money safely. Conventional web3 accounts, including most crypto wallets, are controlled by a single private key, which is often derived from a 24-word secret.

Safe attempts to reduce the error point caused by a single key by distributing the risk to several parties in a group to give a transaction green light before it is executed. Since then, the platform has grown around a decentralized autonomous organization (Safedao) and a native token (safe).

safe builds on its smart contracts protocol infrastructure and plans to develop into a platform that is designed to promote a variety of other applications, including wallets.

his developers said that Safe, as a self-customer solution, has so far more than processed 600,000 transactions with exceeding digital assets $ 38 billion under his belt. Many Daos manage their treasury assets with Gnosis Safe.

You said that the financing would be aimed at building on your early success because she tries to secure the web3 infrastructure.

"Safe offers a critical public as a compatible and application -independent intelligent contract account that can control digital assets, data and identities," said Schor.

"The transition to intelligent contract accounts will be a joint effort of the entire web3 community."

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The contribution gnosis spinoff safe gets $ 100m to Further ecosystem is not a financial advice.