What Is a Gnosis Safe?

What is a Gnosis Safe?

Gnosis Safe is a smart contract wallet running on Ethereum that requires a minimum number of people to approve a transaction before it can occur.

Gnosis Safes are commonly used to manage pooled DAO funds. DAOs often require a certain number of members to sign off on any fund transfers. DAO actions are generally voted upon by all members and then executed by the core group of signers.

The Gnosis Safe allows users to define a list of owner/signer accounts and a threshold number of signers required to confirm a transaction. Once the threshold of owner accounts have confirmed a transaction, the Safe transaction can be executed.

Gnosis Safes on Tally

To empower DAOs that use Gnosis Safes, Tally allows users to create or link their Safes to a Tally organization.

Creating a Gnosis Safe on Tally creates the exact same instance of Gnosis’s smart contract that Gnosis’s own app does, with the added benefit of managing from the same Tally organization that you may be using for Governor and Tokenless DAOs. Having your Gnosis Safe linked on Tally will also allow users to one day take advantage of Tally features such as the Create Proposal tool and Recipes.

What are Gnosis Safe assets and types?

Gnosis Safe supports Ether and all assets that fully comply with the ERC20 standard. This includes assets such as DAI, USDC, UNI, and many others.

What is a Gnosis Safe owner?

An Owner is a signer of the of the Gnosis Safe smart contract wallet. Owner accounts sign off on transactions on the Gnosis Safe smart contract, such as transferring funds from the wallet.

What is a Gnosis Safe threshold?

The threshold is the number of signers required to confirm a transaction. Once the threshold of owner accounts have confirmed a transaction, the Safe transaction can be executed.

What is a Gnosis Safe delegate?

Delegates are non-owners that are authorized to initiate transactions for a specific Safe which then would show up on the official Gnosis Safe interfaces. Delegates need to be authorized by an owner of a Safe.

Delegates can be viewed, added and removed via the Safe transaction service.

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