Gnosis Safe is Live on Layer 2

Published on: 14.07.2021

Gnosis Safe launches today on EVM-compatible networks Polygon and Binance Smart Chain (BSC).

Arbitrum, which is completing steps toward mainnet release, will join within the coming weeks.

They anticipate that multi-chain rollout will play a critical role in meeting the Gnosis Safe community’s needs of tackling Ethereum scalability, boosting the adoption of Decentralized Autonomous Organisations (DAOs), bringing added security to DeFi treasuries, and creating space for network-native features.

Benefits to Gnosis Safe Users

Gnosis Safe adoption has been rising rapidly, with >$44billion USD value now held in Safes and >26,000 created to-date. With more users and significant transactions being made than ever, it was a priority for us to respond to requests for key Layer 2 features like low transaction costs and efficient throughput. By offering compatibility with L2s spanning popular networks, we hope to continue serving the growing sector of DeFi treasuries currently storing $55 billion USD TVL, DAOs managing $838 million assets, and a wide range of investors, institutions, projects, teams, and individuals.

By making Gnosis Safe accessible across chains, we also look forward to catalyzing a feedback loop of adoption and scaling of apps available on those chains. Launching on each chain means creating a chain-specifc Safe App browser, for projects that convert their dapp to a Safe App. Polygon, BSC and xDai (and Arbitrum, when it launches on mainnet) all boast a vibrant and expanding ecosystem of native dapps as well as dapps that are available across multiple chains.

Initial Safe Apps that will be available following the Layer 2 launch include WalletConnect, Aave, Curve, 1inch, Superfluid, Paraswap, and Request Network, with more to follow through the summer!

“Bringing Gnosis Safe to all relevant Layer 2 solutions answers a pressing demand from our community of builders and users, creating a portal between the Safe interface and app ecosystem and some of the most robust networks emerging right now. We’re thrilled to kick off this rollout today with any early L2 cohort, to be joined by others like Optimism, zkSync, and Avalanche throughout the rest of 2021.”
— Gnosis CTO Stefan George

In addition to the Layer 2 benefits of increased speed, efficiency and cost, the launch of Gnosis Safe on Polygon, Arbitrum and BSC facilitates easy access to the applications being developed on those networks. Any existing dapp can be converted into a Safe app with just a few lines of code.

Additionally, Gnosis Safe will also be crucial in securing smart contract systems and project treasuries:

“We’re excited to have Gnosis Safe’s high security user-friendly multisig platform live on Polygon. This will allow the 450+ Dapps building on Polygon’s high speed infrastructure to manage their assets transparently and securely.”
— Polygon co-founder Anurag Arjun