Convert Safe SAFE to Stake DAO FXN SDFXN

Safe provides developers with an open-source and modular account abstraction stack. Safe also functions as a multi-sig wallet service provider to users and organizations. These wallets require permissions from multiple stakeholders to approve transactions from the address. Safe supports multi-sig wallets on several EVM networks, including Ethereum, Arbitrum, and Base. SAFE is the governance token of the SafeDAO. SAFE tokens can be used to vote on proposals related to Safe’s development.

Liquid Lockers address a significant issue in the DeFi space. Previously, if a person or protocol wanted to use their lockable tokens (like CRV, FXS, etc.) for governance or for boosting yield, they faced a tough decision. They could either lock on the native protocol, which allowed them to enjoy a yield and ability to vote through governance while losing liquidity. Alternatively, they could use a locker, reap the benefits of boosted yield and yield farming, have the ability to exit with a limited penalty, but forfeit their governance power. This forced a choice between voting power and yield, imposing restrictions on users. Liquid Lockers aim to offer the best of both worlds. They enable users to lock their tokens and receive sdTOKENs in return. Users can stake these sdTOKENs on Stake DAO to gain various benefits, such as native APR, a share of boosted strats rewards, the ability to sell voting rights of the underlying asset, and additional SDT incentives. They always have the possibility of exiting their position and returning to the underlying token. 🔑 Key Features Yield (rewards earned through underlying protocol) Liquidity (liquidity pools to exchange sdTokens) Governance power (ability to vote on underlying protocol with sdTokens) Vote incentives rewards (due to governance power) Cross-chain accessibility