Data from Dune Analytics' Safe dashboard illustrates how smart contract wallets have evolved into core infrastructure for institutional crypto operations. Safe secures approximately $59.5 billion in on-chain assets across 59.2 million deployed smart accounts and has processed close to 950 million transactions, positioning it as the dominant multisig standard across the EVM ecosystem.
Rather than functioning as passive custody, Safe smart accounts support treasury management, DAO governance, protocol ownership, and operational execution across multiple blockchain networks.
The Scale of the Safe Ecosystem
Safe wallets collectively secure $59.5 billion in assets, distributed across key categories:
- $42.2B in ERC-20 tokens
- $10.5B in native chain assets
- $6.8B in stablecoins
Usage metrics further contextualize this activity. Safe accounts have processed approximately $1.39 trillion in total transfer volume across 950 million transactions, reflecting sustained execution related to treasury flows, governance actions, and institutional workflows.
Transaction Activity by Network
Safe transaction activity is unevenly distributed across networks, revealing distinct operational patterns. Worldchain accounts for 84.64% of all Safe transactions, totaling approximately 804 million transactions, despite Safe being deployed across a broad range of EVM-compatible chains.
Optimism follows with 8.79% of transactions (around 83.5 million), while Gnosis, Polygon, and BNB Chain combined account for less than 5% of overall transaction count.
In contrast, Ethereum where Safe originated represents only 0.38% of total transactions, yet accounts for nearly $1 trillion of the $1.39 trillion total transfer volume.
This divergence highlights network-specific usage:
- Ethereum is primarily used for high-value, lower-frequency settlement
- Worldchain and Optimism support high-frequency operational execution
Safe Deployments vs. Activity
Deployment data provides additional context when compared against transaction activity across networks:
- Worldchain hosts 62.26% of deployed Safe accounts (approximately 36.8 million)
- Optimism accounts for 25.98% (around 15.4 million)
- Polygon represents 5.21% (about 3.1 million)
- Base accounts for 1.9% (approximately 1.12 million deployments)
Comparing deployments with transaction share highlights notable differences in network usage. For example, Polygon represents 5.21% of Safe deployments (around 3.1 million wallets) but accounts for only 1.27% of total Safe transactions, indicating lower relative on-chain activity when measured against deployment volume.
Why Safe Became the Multisig Standard
Safe's widespread adoption is driven by a combination of security, architectural design, and operational efficiency.
Key factors include:
- Long-standing security track record, with no major protocol-level failures across multiple market cycles
- Modular smart contract architecture, enabling configurable signature thresholds, spending limits, timelocks, and extensibility via modules
- Transaction batching and gas optimization, reducing execution costs for multi-call workflows
- Consistent cross-chain deployments, simplifying multi-network treasury operations
Together, these characteristics make Safe suitable for institutional-grade treasury management, DAO governance, and protocol ownership.
Methodology and Data Coverage
This analysis covers 22 blockchain networks currently indexed in Dune Analytics' Safe dashboard, including Worldchain, Optimism, Gnosis, Polygon, BNB Chain, Base, Arbitrum, Ethereum, Celo, zkSync, Avalanche C-Chain, Fantom, Scroll, Linea, Blast, Mantle, zkEVM, and others.
Important note: Safe is deployed on additional networks beyond those included here. Results reflect only the chains currently indexed by Dune and may underrepresent newer or lower-activity deployments.
*Source: Dune Analytics – Safe Dashboard (accessed January 2025).*
Multisig Infrastructure for EVM Chains
As Safe continues to function as foundational infrastructure across EVM ecosystems, reliable deployment, monitoring, and long-term maintenance become increasingly critical.
Palmera works with blockchain networks, protocols, and institutions to deploy and maintain multisig infrastructure compatible with Safe including contract deployment, indexing, monitoring, and upgrade management.
Learn more about Palmera's multisig infrastructure deployments.
About Palmera
Palmera is a multisig infrastructure provider for EVM chains, specializing in the deployment and operation of smart account infrastructure compatible with Safe across L1s, L2s, and L3s.
##