Safe rolls out 'Safenet' to unify liquidity and user interactions across blockchains

Safe, formerly known as Gnosis Safe, has unveiled Safenet, a transaction processor network designed to enable users to manage assets across multiple blockchains.

The goal is to enable instant cross-chain transactions with execution guarantees, catering to users who require quick and secure asset transfers across various networks.

Safenet is not a blockchain itself but a meta protocol that serves as a connective layer, interfacing with any blockchain through a single user account.

As such, the project wants to address key challenges in DeFi, such as liquidity fragmentation and the complexities of managing cross-chain transactions.

The alpha release of Safenet is scheduled for the first quarter of 2025.

“SafeNet isn’t a Layer 2 or Layer 1—think of it like the VisaNet of blockchains, a transaction processor network that connects existing networks,” a project spokesperson told The Block.

Under the hood, Safenet’s liquidity network will enable anyone to contribute to the protocol by providing the required liquidity for the Safenet “processors” to service users. This liquidity network builds on existing DeFi primitives like DEXs, lending markets and other liquidity sources. These processors, akin to nodes, ensure security and speed in transactions.

“Our vision is to address liquidity fragmentation and create a seamless, secure and lightning-fast experience for every blockchain interaction. Safenet’s ultimate mission is to move the world’s GDP onchain,” said Lukas Schor, co-founder at Safe.

Safe continues to be a leader in smart account infrastructure within the Ethereum ecosystem, offering solutions like multi-signature accounts, private key recovery and simplified dapp development through its Core software stack.

The SafeDAO governs a platform that secures nearly $85 billion in assets, offering tools for managing cryptocurrencies across Ethereum-based apps. In 2022, Safe raised $100 million in a token sale round led by 1kx.

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Safe rolls out 'Safenet' to unify liquidity and user interactions across blockchains

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