<aside> 🔴 Mandate terminated. karpatkey's treasury management engagement ended on February 5, 2026. All positions have been exited, non-SAFE assets swapped back to SAFE, and the joint treasury has reverted to direct SafeDAO-GnosisDAO 2-of-2 multisig control. No active treasury manager is currently in place.

</aside>

Mandate overview

Through SEP-24 (passed April 15, 2024, 89.6% approval, 694 votes, 49.1M SAFE voting power), SafeDAO appointed karpatkey as its Treasury Management Core Unit to manage the joint SafeDAO-GnosisDAO treasury.

karpatkey is a DeFi-native organization specializing in professional DAO finance since 2020. Prior to the SafeDAO engagement, it actively managed treasuries for GnosisDAO, Aave, Arbitrum, Lido, and Uniswap. The organization originated as a spin-off from GnosisDAO.

Scope of work

The mandate covered four pillars:

• Treasury management & portfolio deployment — Active management of the joint treasury, including DeFi yield strategies, liquidity provision, and diversification
• Protocol integrations for SAFE — Creating liquid SAFE markets, DEX liquidity incentives (up to 2.5M SAFE on Gnosis Chain), and liquidity provision on Ethereum
• Risk management & security monitoring — Protocol reliability evaluation, continuous threat monitoring, and autonomous guardian monitors for exploit/depeg detection
• Research & advisory — Investment recommendations, governance participation, and strategic advisory to SafeDAO

karpatkey was explicitly not a custodian — funds remained in the joint treasury at all times. Their infrastructure was built on Safe/Zodiac modules, including their Execution App (AxA) for instant withdrawals upon risk detection.

Joint treasury structure

The joint treasury held approximately 50 million SAFE tokens (initially 100% native token composition).

Addresses

Ethereum Mainnet: 0xd28b432f06cb64692379758b88b5fcdfc4f56922