Ethereum-based Gnosis Safe expands to Polygon, Arbitrum and BSC to enable more efficient DAOs
Gnosis Safe, a platform for managing digital assets on Ethereum, today launched on EVM-compatible networks Polygon, Arbitrum, and Binance Smart Chain (BSC), as part of its multi-chain layer-2 rollout.
The deployment aims to tackle Ethereum’s scalability issue; boost the adoption of Decentralized Autonomous Organisations (DAOs) and bring added security to DeFi treasuries.
L2 features from Polygon, Arbitrum, and BSC; including lower transaction costs, more efficient throughput, scalability, and extended app offerings, have been brought to Gnosis Safe’s interface.
Polygon and BSC are currently accessible for both developers and interface users; while Arbitrum is pending release of Arbitrum mainnet and will be available within a few weeks.
“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. 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
With $838 million USD assets under management in DAO treasuries and $55.45 billion USD total value locked in DeFi protocols, it has become essential that Ethereum infrastructure operators like Gnosis Safe are available on layer-2 to alleviate these problems.
Gnosis Safe hosts over $42 billion of the ETH and ERC-20 assets powering various DAO and DeFi ecosystems. The Gnosis team anticipates that offering layer-2 solutions on these popular networks will be contributory in unlocking, creating, and catalyzing the flow of these growing stores of value.
Further. the deployment of Gnosis Safe on Polygon, Arbitrum, and BSC means some apps from those networks will be available as Gnosis Safe apps. Some of those apps include WalletConnect, Aave, Curve, 1inch, Superfluid, Paraswap, and Request Network.
“This is a critical piece of infrastructure and an important dependency for many of the project’s building on Arbitrum. And all Arbitrum users will benefit from accessing and exploring apps in the Safe interface.”
– Steven Goldfeder, CEO of Offchain Labs (the company building Arbitrum)
For more information on what’s coming to Gnosis Safe and the deployment roadmap click here.
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