Introducing Safe

Safe is a smart contract wallet deployed on various blockchains that provides enhanced security through a multisignature (multisig) mechanism. Instead of relying on a single private key like traditional wallets (e.g., MetaMask, TrustWallet, or Exodus), Safe requires approval from multiple authorized participants (M-of-N) before a transaction can be executed. This significantly reduces the risk of funds being compromised by a single rogue individual or a mishandled private key.

Why Multisig?

Most common cryptocurrency wallets—often called externally owned accounts (EOAs)—are secured with a 12-word seed phrase that generates a private key. If this private key is lost or compromised, attackers can steal all associated funds.

In contrast, a multisig setup:

• Requires multiple signatures (e.g., 2 out of 3 owners) to confirm a transaction.
• Prevents a single bad actor or compromised key from draining funds.
• Suits businesses or organizations with multiple stakeholders, ensuring no single member can unilaterally move assets.

Even individual users can benefit from the extra security multisig provides, eliminating single points of failure.

How Safe Works

Self-Custody

Safe is a fully self-custodial solution. You hold control over your funds without relying on a centralized entity. The smart contract itself is trustless and owned by you, so there’s no risk of a third party blocking or freezing your assets.

Signer Wallets

To interact with a Safe, you use a signer wallet (e.g., MetaMask, Ledger, Trezor):

• Create a Safe by connecting your signer wallet
• Sign on-chain or off-chain transactions
• Execute transactions when the required number of owners have approved

The Safe web interface itself does not store private keys—it simply coordinates transaction approvals. Each Safe has its own unique address, separate from your signer wallet address.

Owners and Keys

A Safe can have any number of owners, each controlling one or more signer wallets. The Safe’s multisig rules (e.g., 2 out of 3 owners) determine how many signatures are needed to validate a transaction.

Supported Networks

Safe’s smart contracts are widely deployed across many blockchains, including but not limited to:

• Ethereum Mainnet
• Ethereum Testnets (e.g., Sepolia)
• BNB Chain
• Polygon and Polygon zkEVM
• Arbitrum
• Optimism
• Avalanche
• Gnosis Chain (formerly xDai)
• Aurora
• Linea
• Mantle
• Base (including Base Testnet on Sepolia)
• zkSync Era
• Scroll
• X Layer
• World Chain

With broad network support, Safe allows you to securely manage assets on multiple chains under one multisig framework.

Choosing a Signer Wallet

Safe supports a variety of signer wallets. Popular choices include:

• MetaMask (software wallet)
• Hardware wallets such as Ledger or Trezor

Each option has its own security model and user experience. It’s best to research which wallet aligns with your requirements for accessibility, security, and convenience.

Safe offers a higher level of protection for business and personal crypto management while remaining entirely under your own control.

What Safe Setup Should I Use?

When creating a Safe, there are three key decisions to make:

1. How many signers?
2. What threshold (i.e., how many signers must approve each transaction)?
3. Which signer wallets to use?

There’s no single “best” approach—it depends on your needs. Below are some general guidelines to consider when choosing a setup.

Number of Signers

• Use more than one signer account:
  • For groups managing shared funds, multiple signers are necessary so that each stakeholder has some level of control.
  • Even for individuals, using more than one signer account can serve as an extra authentication factor in case one account is lost or compromised.

Threshold

The threshold is how many signer accounts must confirm a transaction before it can be executed.

• More than 1: Setting a threshold above 1 ensures no single account can move funds. Even if one account is compromised, an attacker won’t have the power to drain the Safe.
• Less than total signers: It’s usually good practice to keep the threshold lower than the total number of signers (e.g., 2-of-3, 3-of-4). This way, if one signer loses access, the others can still transact and replace the lost signer.

Choosing Signer Wallets

Safe is compatible with a range of wallets:

• Browser Extensions: e.g., MetaMask
• Hardware Wallets: e.g., Ledger, Trezor
• Mobile Wallets (via WalletConnect): e.g., Trust, Argent, Rainbow

Additionally, you can use the Safe mobile app to confirm transactions on the go. Consider mixing wallet types (e.g., a hardware wallet plus MetaMask) for an optimal blend of security and convenience.

Common Safe Setups

1. Individual User

   • 3 Signers (e.g., 1 MetaMask + 2 hardware wallets)
   • Threshold = 2
   • Daily transactions can be approved by MetaMask + one hardware wallet, while the second hardware wallet is kept in a secure location as backup.

2. Groups/Organizations

   • 1 signer per person
   • Threshold = (Total Signers - 1) or an agreed-upon majority
   • No single individual can initiate or finalize a transaction alone, enhancing security while still allowing timely approvals.

3. Multiple Safes for Different Assets

   • Some organizations create separate Safes for different types of transactions or assets, each with its own threshold rules.

Note: If you wish to create a Safe without paying gas immediately, you must opt for a 1/1 setup at first. You can then add more signers after creation.

Deployment

Create a Safe

Creating a Safe is quick—it takes roughly 60 seconds, or even less if you choose the “Pay later” option.

1. Open the web app at https://app.safe.global/ (recommended on Google Chrome).
2. Connect a signer wallet (e.g., MetaMask, Ledger, Trezor). Make sure you have some native tokens (e.g., ETH) to cover transaction fees if you plan to deploy immediately.

Connect a Signer Wallet

If you already have Safes linked to this wallet, they will appear in the list. Otherwise, you’ll be taken directly to the creation flow.
Click “Create new account” to set up a brand-new Safe.

Select Signers

Your connected wallet is automatically suggested as the first signer. You can add additional signers by entering their Ethereum addresses or ENS names.

If you want a gasless setup at this stage, you must proceed with a 1/1 configuration (you can add more signers later in the Safe’s settings).

Define Confirmation Threshold

Choose how many signers must confirm each transaction or Safe settings change. If you can’t meet the threshold (e.g., a signer loses access), you won’t be able to unlock your funds or alter the Safe. Make sure to pick a threshold that balances security with practicality.

Review and Complete Safe Creation

You have two choices:

1. “Pay now”: Deploy the Safe immediately on-chain by signing a transaction.
2. “Pay later”: Create the Safe gaslessly first. You can deploy it with your first transaction in the future.

Deployment typically takes 20-40 seconds, depending on network conditions. For specific test networks (e.g., Sepolia or Gnosis Chain), some transactions may be sponsored (covering fees for you).

Once deployed, your new Safe is ready for secure, multisignature management of crypto assets.

Sending and Receiving Funds

Sending Funds

To initiate a transfer from your Safe, click “New Transaction” in the side menu, then select “Send funds.”

1. Select the recipient: You can choose from your address book or paste a new address.
2. Choose an asset to transfer (e.g., a specific token or currency).
3. Enter the amount.
4. Review the transaction details. You can also adjust advanced parameters (like gas limits).
5. Submit and sign the transaction with your signer wallet. If your Safe’s threshold requires multiple approvals, the transaction will remain pending until all necessary signers approve.

Receiving Funds

To receive assets, simply send them to your Safe’s address. This includes:

• Cryptocurrencies (e.g., ETH, BNB)
• Tokens (various ERC-20 or similar standards)
• NFTs (ERC-721 supported in the Safe’s interface)

You can copy your Safe address by clicking the copy icon or scanning the QR code:

Signing and Gas-less Signatures

In many multisig systems, each signature or rejection is recorded on-chain, which can be slow, costly, and public. Safe addresses this by allowing signatures to be collected off-chain until the required number of signers (threshold) is reached. Only then is the transaction broadcast to the blockchain with all signatures.

Benefits of Off-Chain Signatures

• Instant confirmations/rejections: Signers don’t wait for a blockchain confirmation just to confirm a transaction.
• No ETH needed in each signer’s wallet: You don’t pay a fee for each signature.
• Improved privacy: The transaction is only visible on-chain once all approvals are gathered.

How It Works

1. Each signer signs a transaction intent using eth_signTypedData, eth_sign, or similar.
2. These signatures are stored by the transaction service (not on-chain).
3. The final signer collects all signatures and broadcasts a single transaction to the blockchain with the combined approvals.

Trust Considerations

Off-chain signatures rely on a transaction indexer or history service to store partially signed transactions. Safe provides such a service for the hosted web app at app.safe.global. Advanced users can run their own indexer to remain independent of any third-party service.

Feature Availability

• Safe contract v1.1.1 or higher, and interface v1.9.0 or higher, are required for gas-less signatures.
• Most standard wallets (MetaMask, Ledger, Trezor) support off-chain signatures.
• Smart contract-based wallets (e.g., Argent, Authereum) and hardware wallets connected via MetaMask browser extension might not fully support this feature.

By combining off-chain (gas-less) signatures with a robust threshold, Safe delivers a more efficient and private multisig experience.