<aside> 🏁 SAFE tokens became transferable on April 23, 2024 — the culmination of an 18-month journey through five governance milestones.

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The journey to transferability

Token transferability was the most consequential governance decision in SafeDAO's history. It required completing five sequential milestones defined in SEP-3, each representing a governance maturity threshold.

SEP-2: First attempt (November 2022) — Failed

The first attempt to enable transferability failed with only 26.4% support. The community voted overwhelmingly (73.6%) to make no changes, reflecting concerns about governance maturity.

26.4% approval · Failed · 2022-11-10

SEP-3: Defining milestones (December 2022)

Following SEP-2's failure, this proposal established clear prerequisites for revisiting transferability. Option 3 won (58.3%), defining five milestones:

• Milestone A: Participation agreement (completed via SEP-1)
• Milestone B: Constitution (completed via SEP-4)
• Milestone C: Governance framework (completed via SEP-7)
• Milestone D: Resource allocation framework (completed via SEP-8)
• Milestone E: Token utility definition (completed via SEP-21)

58.3% (Option 3) · 1,069 votes · 15.1M SAFE

SEP-5: Airdrop redistribution (March 2023)

While not a direct transferability milestone, this signaling vote addressed unclaimed SAFE tokens from the user airdrop. The combined A+B redistribution strategy won. This was the highest-participation vote in SafeDAO history (2,107 voters).