Gnosis Safe, an ETH and ERC20 Smart Contract Wallet, Crosses $1 Billion In Total Assets Held

Quick Look:

  • Gnosis Safe, an institutional-grade digital assets smart contract wallet by Gnosis, reaches $1 billion in assets held on the platform.
  • In a tweet celebrating the milestone, Gnosis Founder, Stefan George, explained the figure as all Ethereum (ETH) and ERC20 tokens stored on the total smart contracts secured by the platform.

In a first of its kind, Gnosis revealed a sum close to $1.09 billion is held in the company’s smart contracts. The tweet shared on Aug 25 shows that this figure accounts for the total ERC20 and ETH tokens stored in its Gnosis Safe contracts.

Explaining the calculations, Stefan wrote in a tweet that the sum is calculated by “tracking all created Safe contracts and calculate the sum of all Ether and ERC20 tokens stored in those contracts.” The tokens checked on Dune Analytics, are then priced using CoinPaprika.com, a crypto price data aggregator.

Gnosis Safe is a trusted, smart contract providing a secure platform for Ethereum-based tokens catering for a wide range of customers, including investors, DAOs, institutions, funds, and even developers. The platform also provides a multisig wallet for institutions and partners.

Gnosis Safe is a replacement for the Gnosis Multisig, an earlier version, providing security enhancements and user experience improvements. Gnosis Safe also offers a mobile application on its mainnet and Rinkeby networks for both iOS and Android users.

Apart from custodial services, Gnosis offers users a diversified range of products offered, including the creation of conditional tokens, a prediction market platform (Sight), and recently launched its decentralized trading platform, Gnosis Protocol. The Gnosis Protocol is a decentralized exchange (DEX) built on the network enabling ring trades and promising better execution prices, low fees, and deeper liquidity to its competitors.

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Lujan Odera
Lujan Odera
Lujan is a blockchain technology and cryptocurrency author and editor. He has worked in the field of cryptocurrencies and blockchain technology since 2015 helping him gain enough experience to be the writer he is today. He is known for his simple writing style that allows novices to understand the field in the simplest way.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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