Safe: The Leading Smart Contract Wallet System

As of Q3'24, over $72 billion of assets were stored in 25+ million deployed smart accounts, making Safe one of the go-to solutions for smart contract wallets.

**Key Insights**

* As of Q3'24, over $72 billion of assets were stored in 25+ million deployed smart accounts, making Safe one of the go-to solutions for smart contract wallets.

* The usage of Safe can be gauged in terms of account and transaction activity across Safe’s multiple deployments. As of Q3’24, Safe has been deployed on 20+ networks, including Optimism, Worldchain, Gnosis Chain, Polygon, zkSync, Arbitrum, Avalanche, Base, Blast, BNB Chain, Celo, Ethereum, and Fantom.

* Nearly 14.4 million Safe smart accounts were newly created in Q3’24, up 693% QoQ from 1.8 million in Q2’24. The deployment of the Safe{Core} smart account infrastructure on the World Chain in August 2024 corresponded to over 13.3 new Safe accounts being created on World Chain. That is, 93% of all new accounts in Q3’24 were created on World Chain.

* Prior to the World Chain launch, Worldcoin migrated from Polygon to Optimism’s ecosystem via OP Mainnet in Q2’23. As of Q3’24, Optimism accounted for 884,000 (6%) of all newly created Safe smart accounts, second to World Chain.

* Safe had over 1.6 million weekly average users in Q3’24, down 22% QoQ from 2.1 million in Q2’24. There were over 1.4 million weekly average Safe users on Optimism, totaling 88% of Safe’s weekly average users in Q3’24.

* In line with the number of active Safe users, transactions involving Safe smart accounts — Safes — declined 24% QoQ from 27 million in Q2’24 to over 20 million in Q3’24. For perspective, the share of Safe transactions relative to all transactions reached nearly 2% in Q3’24.

* The total volume processed (TVP) on Safe was nearly $75 billion in Q3’24. In Sept. 2024, Ethereum accounted for over 83% of TVP, whereas BNB Chain and Arbitrum accounted for 4% and 3.5%, respectively.

* The Safe community voted to make the SAFE token transferable in Q2’24. In Q3’24, Safe launched community-aligned fees for native swaps as the first integration within Safe{Wallet} to facilitate revenue generation for SafeDAO.