The purpose of this proposal is to claim and delegate the SAFE Tokens rewarded to the DAO Treasury before the deadline of December 27th, 2022 at 2am MST.
As a Gnosis Safe, ShapeShift DAO’s Treasury is eligible to claim 11,251.1 SAFE tokens from the SAFE airdrop. Currently the DAO is eligible to claim 5,924.51 SAFE, with the remaining 5,326.58 SAFE vesting linearly until September 28th, 2026. If the DAO does not claim some amount of its unlocked SAFE prior to the December 27th deadline, its allocation will be transferred back to the SafeDAO Treasury. In order to claim, the DAO must select an address to delegate our SAFE voting power to that cannot be the DAO treasury. I am proposing that we delegate to Auryn Macmillan (aka Auryn.eth on twitter and etherscan) , an active member of the Ethereum ecosystem, and long-time contributor to Gnosis, Safe, and Gnosis Guild.
The only cost to claim the airdrop is a small amount of gas required to execute the transactions. While SAFE is not yet transferable, it’s likely that the community will vote to enable transferability in the near future, which will likely give SAFE a monetary value. Claiming this airdrop helps to grow and diversify ShapeShift’s treasury while also supporting decentralized governance of the Safe protocol, which the DAO depends on to power its Treasury.
If this proposal passes, the transactions to claim the vested portion of the airdrop and delegate voting power to Auryn.eth will be executed prior to the December 27th deadline. Additionally, passing this proposal will delegate authority to the Treasury Management and Diversification Committee to manage both vested and unvested SAFE tokens going forward.
The primary benefits are treasury diversification and growth as well as supporting the decentralized governance of the Safe Protocol.
There is inherent risk when interacting with any smart contract. However, the Safe token as well as the airdrop and vesting contracts have all been audited, and multiple DAOs with large treasuries have already claimed without issue.
P.S. If anyone is interested in going through the claiming flow and learning more about SAFE Token and the registered delegates, you can go through the claiming process as the DAO treasury here.