Safe's smart accounts surged past 130 million transactions in the second quarter, marking the highest quarterly volume recorded by the protocol and a 5.7% jump from Q1. This growth came even as the broader crypto market showed signs of weakness, highlighting the platform's growing utility beyond mere price movements.
By the end of June, the network had 63.4 million Safes deployed, reflecting a 20% increase year over year. Monthly active users also climbed steadily throughout the quarter, reaching 2.73 million in June with April boasting a record 55.4 million transactions. Despite the turbulent market, Safe’s transfer volume hit $39.3 billion during Q2, an 8% rise compared to last year. These accounts collectively controlled $27.24 billion in self-custodied assets at the close of the quarter, including $6.48 billion in stablecoins. The project’s revenue growth was notable as well, rising 42% year over year to $1.98 million.
Safenet Beta Strengthens Transaction Security
Launched on April 2, Safenet Beta ended its first quarter with 54.8 million SAFE tokens staked by 539 participants, handling over half a million transactions. The network operates with six validators including Greenfield, Safe Labs, RockawayX, Blockchain Capital, Gnosis, and Core Contributors. Safenet secures transactions by enforcing predefined security policies and recording attestations onchain, taking a significant step toward bolstering transaction integrity.
Safe also played a key role in crypto crisis management during Q2. Following the April exploit of KelpDAO, the Aave-led DeFi United alliance used Safe smart accounts to marshal approximately $300 million in aid to restore rsETH backing. This effort engaged more than 142,000 wallets over three weeks, demonstrating Safe’s growing importance in coordinating large-scale DeFi recovery actions.
This content is for informational purposes only and does not constitute financial advice.
