June20 , 2024

Safe{Wallet} Adds Native Swaps in a New Embedded DeFi Play


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Safe{Wallet} introduces native swaps – promising seamless transactions, security, and cost savings. Safe Wallet has facilitated an impressive $23B in swap volume over the last three years. With the new Swaps experience, users will be able to get premium support and use the streamlined UX and security features right from their Safe Wallet app.

ZUG, Switzerland, May 15, 2024 /PRNewswire/ — Safe, the leading smart account infrastructure, has announced the introduction of native swaps. This new native token swap feature integrates the CoW Protocol and is built directly into the world’s most used multisig wallet, Safe{Wallet}. In partnership with CoW Protocol, this integration leverages CoW Protocol’s advanced aggregation and intent-based architecture to access a vast liquidity pool across decentralized exchanges, offering Safe{Wallet} users low prices and a wide selection of tokens for seamless trades on CoW Protocol.

Safe{Wallet}’s impressive swap volume – an average of $450 million per month since June 2023 and nearly $1 billion in March alone – highlights the immense demand for seamless asset swaps within the Safe community. Over the last three years, a total of $23 billion in swap volume has been facilitated through Safe Smart Accounts.

Previously, Safe{Wallet} users seeking to swap tokens were required to navigate to external websites. The integrated swaps feature significantly improves the user experience, fetching quotes across multiple decentralized liquidity sources to ensure users get what they want at a low price by interacting directly with CoW Protocol through Safe{Wallet}.

The feature leverages an intent-based swap mechanism that supports batched execution and minimizes the likelihood of errors or expirations common with multi-signature transactions. This ensures that Safe signers enjoy greater accuracy, peace of mind, and a streamlined token swap experience with MEV protection. 

The current market cycle presents a potential tipping point for smart accounts to surge past traditional Externally Owned Accounts (EOAs) as the preferred solution in Web3. Safe is at the forefront of this transition, demonstrating sustained ecosystem growth. Based on a community vote, the SAFE token was made transferable by Safe{DAO} recently.

“Native token swaps are a game-changer for Safe{Wallet} users, prioritizing seamless experiences and MEV-protection through an intent-based architecture,” said Co-Founder of Safe, Lukas Schor.

“Safe is the most secure way to own assets,” added Anna George, Co-founder of CoW Protocol. “We share the Safe team’s vision for seamless and reliable transactions. Our collaboration streamlines the swapping process for Safe{Wallet}’s extensive user base while contributing to the continued growth of the CoW Protocol ecosystem.”

To learn more about the features of Safe{Wallet}, visit https://safe.global/wallet


Originally published at https://www.prnewswire.com/news-releases/safewallet-adds-native-swaps-in-a-new-embedded-defi-play-302146056.html
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