Safe Foundation has launched Safenet Beta, a decentralized transaction security network that gives the SAFE token its first live function beyond governance. The rollout was announced at the Ethereum Community Conference. The main shift is simple: security checks are no longer limited to alerts or external tools, but placed directly inside the execution flow of a transaction.
Transactions are screened before they execute
According to Safe, Safenet intercepts transactions before execution and routes them through independent validators that assess each proposed action against a predefined rulebook. If a transaction passes, it receives a cryptographic attestation, which is then verified onchain by a Guard module tied to the user’s Safe account. No valid attestation, no execution.
Users still retain self-custody. If a transaction fails attestation but the user still wants it to go through, it can proceed only after explicit additional approval and a time delay. Safe co-founder Richard Meissner said earlier warning systems had repeatedly come up short. His argument is that Safenet inserts enforcement into the transaction path itself, making every transaction checkable, publicly auditable, and governed by a decentralized validator set rather than a single provider.
Beta starts with six genesis validators
The beta network launches with six genesis validators: Greenfield, Gnosis, Safe Labs, Rockaway, Blockchain Capital, and Core Contributors GmbH. Each has staked at least 3.5 million SAFE. The first set of checks is aimed at common multisig wallet exploits. Safe also said the network is Byzantine Fault Tolerant, which means it can tolerate up to one-third of validators acting dishonestly.
SAFE moves beyond governance into staking economics
Safenet Beta also includes a staking interface, allowing SAFE holders to delegate to any genesis validator without running their own infrastructure. Staking rewards still require SafeDAO approval under SEP-55. Slashing and fee-based rewards are planned for later phases. Lukas Schor, president of the Safe Ecosystem Foundation, said the launch brings the security layer closer to the original promise of self-custody and gives SAFE a structural place in protecting onchain value.
Since 2022, SAFE has mostly functioned as a governance token. Safenet changes that by making validator operations depend on staked SAFE, while delegators can stake in support of those validators. Safe said the protocol has processed more than $1.4 trillion in cumulative transfers, and its goal is for that value flow to eventually be secured by Safenet. At press time, SAFE was trading at about $0.10, according to CoinMarketCap.