White Paper Report


			..
	White paper for crypto-assets other than asset-referenced tokens or e-money tokens

	Digital Token Identifier:	VQQNZSQ1H
	Offeror or person seeking admission to trading:	CHE-295.207.842 - Safe Ecosystem Foundation
	Type of submission:	Modify

Table of content
General information
SUMMARY
Part A - Information about offeror or person seeking admission to trading
Part B - Information about issuer, if different from offeror or person seeking admission to trading
Part C - Information about the operator of the trading platform in cases where it draws up the crypto-asset white paper and information about other persons drawing the crypto-asset white paper pursuant to Article 6(1), second subparagraph, of Regulation (EU) 2023/1114
Part D - Information about other token project
Part E - Information about offer to public of other tokens or their admission to trading
Part F - Information about other tokens
Part G - Information on rights and obligations attached to other tokens
Part H – Information on underlying technology
Part I - Information on risks
Part J - Information on the sustainability indicators in relation to adverse impact on the climate and other environment-related adverse impacts




[Table 2] Template for white papers for crypto-assets other than asset-referenced tokens or e-money tokens

Template for white papers for crypto-assets other than asset-referenced tokens or e-money tokens [abstract]
General information
00 Table of content	boolean true	true
01 Date of notification	date	2026-05-01
02 Statement in accordance with Article 6(3) of Regulation (EU) 2023/1114	boolean true	This crypto-asset white paper has not been approved by any competent authority in any Member State of the European Union. The person seeking admission to trading of the crypto-asset is solely responsible for the content of this crypto-asset white paper.
03 Compliance statement in accordance with Article 6(6) of Regulation (EU) 2023/1114	boolean true	This crypto-asset white paper complies with Title II of Regulation (EU) 2023/1114 of the European Parliament and of the Council and, to the best of the knowledge of the management body, the information presented in the crypto-asset white paper is fair, clear and not misleading and the crypto-asset white paper makes no omission likely to affect its import.
04 Statement in accordance with Article 6(5), points (a), (b), (c), of Regulation (EU) 2023/1114	boolean true	The crypto-asset referred to in this crypto-asset white paper may lose its value in part or in full, may not always be transferable and may not be liquid
05 Statement in accordance with Article 6(5), point (d), of Regulation (EU) 2023/1114	boolean true	Not applicable
06 Statement in accordance with Article 6(5), points (e) and (f), of Regulation (EU) 2023/1114	boolean true	The crypto-asset referred to in this white paper is not covered by the investor compensation schemes under Directive 97/9/EC of the European Parliament and of the Council or the deposit guarantee schemes under Directive 2014/49/EU of the European Parliament and of the Council.
SUMMARY
07 Warning in accordance with Article 6(7), second subparagraph, of Regulation (EU) 2023/1114	boolean true	Warning This summary should be read as an introduction to the crypto-asset white paper. The prospective holder should base any decision to purchase this crypto –asset on the content of the crypto-asset white paper as a whole and not on the summary alone. The offer to the public of this crypto-asset does not constitute an offer or solicitation to purchase financial instruments and any such offer or solicitation can be made only by means of a prospectus or other offer documents pursuant to the applicable national law. This crypto-asset white paper does not constitute a prospectus as referred to in Regulation (EU) 2017/1129 of the European Parliament and of the Council or any other offer document pursuant to Union or national law.
08 Characteristics of the crypto-asset	textBlock	The crypto-asset referred to in this white paper is the SAFE Token ("Token"). The Token is the native token of the Safe community-run and community owned Web3 ecosystem ("Safe Community"), represented on-chain by a decentralized autonomous organization called SafeDAO ("SafeDAO"). The Token enables Token holders to participate in the governance process of the SafeDAO as well as in Safenet (see D.04. below further information).
09 Further information about utility tokens	textBlock	Not applicable see 05 above
10 Key information about the offer to the public or admission to trading	textBlock	The Token was admitted to trading on platforms operating within the European Union ("EU") or the European Economic Area ("EEA") ("Trading Platforms") prior to December 30, 2024. At the request of some Trading Platforms to comply with their obligations and because of the addition of a new Token functionality to the Token, Safe Ökosystem Stiftung ("Foundation"), intends to notify and publish the present updated white paper for the Token.
Part A - Information about offeror or person seeking admission to trading
A.1 Name	text	Safe Ecosystem Foundation
A.2 Legal form	text	Swiss Foundation (Art. 80-89c of the Swiss Civil Code)
A.3 Registered address
Registered addess	text	Bahnhofstrasse 16, 6300 Zug
Country	enumeration	Switzerland
Sub-division	text	Not applicable.
A.4 Head office
Head office	text	Not applicable.
Country	enumeration
Sub-division	text	Not applicable.
A.5 Registration date	date	2022-03-21
A.6 Legal entity identifier	LEI
A.7 Another identifier required pursuant to applicable national law	text	CHE-295.207.842
A.8 Contact telephone number	text	+41 41 729 39 00
A.9 E-mail address	text	legal@safefoundation.org
A.10 Response time (days)	integer	7
A.11 Parent company	text	Not applicable.
A.12 Members of the management body
Member #1	id	1
Identity	text	Lukas Simeon Schor
Business address	text	Bahnhofstrasse 16, 6300 Zug, Switzerland
Function	text	President of the Foundation Council
Member #2	id	2
Identity	text	Stefan David George
Business address	text	Bahnhofstrasse 16, 6300 Zug, Switzerland
Function	text	Vice President of the Foundation Council
Member #3	id	3
Identity	text	Richard Meissner
Business address	text	Bahnhofstrasse 16, 6300 Zug, Switzerland
Function	text	Member of the Foundation Council
A.13 Business activity	textBlock	The Foundation aims at (i) the development of the technology for the Safe ecosystem, (ii) the development of technologies and applications that build on the Safe ecosystem, (iii) the development and promotion of the Safe ecosystem, (iv) the training and education in the area of Safe ecosystem technology, (v) the promotion of public awareness regarding the Safe ecosystem and its applications, and (vi) the holding and management of digital and non-digital assets for these purposes. For the full business activity as described in the commercial register, on the date of the notification of the present white paper, please refer to https://www.zefix.ch/de/search/entity/list/firm/1529482.
A.14 Parent company business activity	textBlock	Not applicable.
A.15 Newly established	boolean	false
A.16 Financial condition for the past three years	textBlock	The Foundation operates as an independent ecosystem entity, established to support the long-term development, governance, and sustainability of the Safe project. The Foundation was initially capitalized through a Token sale, generating total proceeds of approximately USD 93.5 million. As of the reporting date, the Foundation's treasury assets comprise approximately USD 34 million in cash and crypto holdings, providing a diversified and liquid capital base. The Foundation also retains ownership of about 8.5% of the total Token supply, maintained as a strategic reserve to support ecosystem growth, community initiatives, and long-term operational sustainability. In addition, the Foundation holds a further 45% of the total Token supply on its balance sheet. With the exception of 50 million Tokens, these holdings are subject to an eight-year vesting schedule that began at the token generation event and are fully allocated to DAO-governed activities. The Foundation is committed to deploying or allocating these tokens exclusively for Safe DAO-related purposes, in accordance with an established governance process that ensures transparency and community-led oversight. Expenditures have amounted to approximately CHF 55 million since incorporation of the Foundation, reflecting investments across core areas including project development, engineering, operations, and ecosystem growth initiatives. These expenditures align with the Foundation's mission to foster innovation and strengthen the technical and governance infrastructure of the ecosystem. Over the past financial periods, the Foundation's financial condition has remained stable, supported by prudent treasury management and a conservative cash reserve policy. No material adverse changes in liquidity, solvency, or capital resources have been recorded. The Foundation maintains no outstanding debts, liabilities, or contingent financial commitments, and no events have arisen that could materially impact its ongoing financial sustainability or its ability to meet operational obligations. From a performance perspective, the Foundation's financial position has benefited from effective cost controls, measured disbursements of funds, and stable valuation of treasury holdings. There have been no unusual or infrequent events materially affecting income or capital resources.
A.17 Financial condition since registration	textBlock	Not applicable.
Part B - Information about issuer, if different from offeror or person seeking admission to trading
B.1 Issuer different from offerror or person seeking admission to trading	boolean	false
B.2 Name	N/A		.
B.3 Legal form	N/A		.
B.4 Registered address
Registered addess	N/A		.
Country	N/A		.
Sub-division	N/A		.
B.5 Head office
Head office	N/A		.
Country	N/A		.
Sub-division	N/A		.
B.6 Registration date	N/A		.
B.7 Legal entity identifier	N/A		.
B.8 Another identifier required pursuant to applicable national law	N/A		.
B.9 Parent company	N/A		.
B.10 Members of the management body
Member #1	N/A		.
Identity	N/A		.
Business address	N/A		.
Function	N/A		.
B.11 Business activity	N/A		.
B.12 Parent company business activity	N/A		.
Part C - Information about the operator of the trading platform in cases where it draws up the crypto-asset white paper and information about other persons drawing the crypto-asset white paper pursuant to Article 6(1), second subparagraph, of Regulation (EU) 2023/1114
C.1 Name	N/A		.
C.2 Legal form	N/A		.
C.3 Registered address
Registered address	N/A		.
Country	N/A		.
Sub-division	N/A		.
C.4 Head office
Head office	N/A		.
Country	N/A		.
Sub-division	N/A		.
C.5 Registration date	N/A		.
C.6 Legal entity identifier	N/A		.
C.7 Another identifier required pursuant to applicable national law	N/A		.
C.8 Parent company	N/A		.
C.9 Reason for crypto-asset white paper preparation	N/A		.
C.10 Members of the management body
Member #1	N/A		.
Identity	N/A		.
Business address	N/A		.
Function	N/A		.
C.11 Operator business activity	N/A		.
C.12 Parent company business activity	N/A		.
C.13 Other persons drawing up the crypto-asset white paper according to Article 6(1), second subparagraph, of Regulation (EU) 2023/1114	N/A		.
C.14 Reason for drawing the white paper by persons referred to in Article 6(1), second subparagraph, of Regulation (EU) 2023/1114	N/A		.
Part D - Information about other token project
D.1 Crypto-asset project name	text	Safe Project
D.2 Crypto-asset name	text	SAFE Token
D.3 Abbreviation	text	SAFE
D.4 Crypto-asset project description	textBlock	Safe Protocol - The Safe protocol ("Safe Protocol") is a software code base for smart contract-based accounts for EVM networks that allows smart contracts ("Safe Smart Accounts") to be used as modular and multi-signature self-custodial wallets managed by multiple owners ("Owners") of the relevant Safe Smart Account. Safe Wallet - To facilitate the deployment of, the management of and the interaction with Safe Smart Accounts for (non-technical) users ("Users"), an application for mobile devices and a web browser interface compatible with Safe Smart Accounts and infrastructure components was developed ("Safe Wallet"). The Foundation is not involved in the operation of instances of Safe Wallet and does not provide any services related to the Safe Wallet. There are many independent operators of Safe Wallet instances. The Foundation's subsidiary Safe Labs GmbH, Berlin, Germany, operates one instance of Safe Wallet. Safenet - Safenet is a protocol for onchain transaction security enforcement for Safe smart accounts (see also documentation here https://docs.safefoundation.org/safenet/overview/introduction). Safenet is currently live in Beta, focus on core consensus, threshold signing, and SAFE Token staking. Validators ("Validators") check proposed transactions against security rules and issue a cryptographic attestation if valid. The Safe guard verifies this attestation onchain. Without a valid attestation, the transaction will not be directly executed. Users keep full self-custody: transactions can still proceed via explicit owner approval after a time delay. SAFE Token – The Safe Protocol and related technology ("Safe Project") are partially developed and managed by the Safe Community pursuant to a governance process based on the Token. By holding the Token, Token holders can vote on the following topics: - Governance and curation of essential infrastructure components of the Safe ecosystem; - Usage of the treasury of the Safe Community. Token holders cannot directly dispose of the Treasury and/or allocate Tokens held in the Treasury to themselves. The use of the treasury can serve the further growth of the Safe Project. In addition, the Token is required to become a Validator on Safenet and to participate in securing the Safenet network. Delegators can stake their Tokens to Validators to secure the Safenet network. The Token does not represent nor confer any ownership, equity interest, participation, corporate governance rights, or any rights beyond the programmatic functionalities expressly described herein, nor any entitlement to business revenues, profit sharing, or other similar economic benefits in relation to the Safe project, the Foundation (as further defined below), or any other entity or individual of the Safe ecosystem.
D.5 Details of all natural or legal persons involved in implementation of crypto-asset project
Person #1	id	1
Type of person	enumeration	Development team
Name of person	text	Safe Labs GmbH
Business address of person	text	Unter den Linden 10, Berlin
Domicile of company	enumeration	Germany
Person #2	id	2
Type of person	enumeration	Development team
Name of person	text	Please refer to the Issuer's website for further details on the people involved in the implementation of the project.
Business address of person	text	See issuer's website (see F.08 )
Domicile of company	enumeration
D.6 Utility token classification	boolean	false
D.7 Key features of goods or services for utility token projects	text	Not applicable. See D.06
D.8 Plans for the token
Description of past milestones	textBlock	The Token has undergone, or is expected to undergo, the following key events: - Public Testnet of the Safe Protocol: July 26, 2018 - Token Generation Event: April 20, 2022 - SafeDAO constitution approved: February 23, 2023 - SafeDAO governance framework established: October 20th, 2023 - SafeDAO resource allocation framework established: November 28th, 2023 - Admission on Trading Platforms Operating within the EU / EEA: April 23, 2024 (first listing the Safe Community decided to make the Token transferable, see proposal here: https://forum.safe.global/t/discussion-unpause-safe-token-contract-enabling-transferability/4874 - Token Public Sale: There was no public sale and there is no public sale planned - Safenet Implementation and SafeDAO SEP-55 approval for staking rewards
Description of future milestones	textBlock	It is planned but not guaranteed to add further Token utility to the Token in the coming months and to further improve the utility of the Token in Safenet.
D.9 Resource allocation	text	The Foundation has received initial financing from the private Token Sale (see D.08) , amounting to approximately USD 93.5 million. These financial resources serve as the cornerstone for the Foundation's mission to steward the growth, sustainability, and accessibility of the Safe Protocol ecosystem. The primary allocation of funds will support the development and continuous enhancement of the open-source technology, including ongoing security audits. In line with its foundational purpose, the Foundation also invests in initiatives that promote the adoption and utility of Safe technology across diverse use cases. This includes fostering ecosystem expansion through grants, developer support programs, research collaborations, and educational initiatives designed to grow an active and informed global community. Beyond development and ecosystem growth, the Foundation is committed to transparent, responsible, and mission-aligned financial stewardship, ensuring that resources are deployed to strengthen the long-term resilience, inclusivity, and decentralization of the Safe ecosystem.
D.10 Planned use of collected funds or other tokens	text	Not applicable. No funds are collected.
Part E - Information about offer to public of other tokens or their admission to trading
E.1 Public offering or admission to trading	enumeration	Admission to trading
E.2 Reasons for public offer or admission to trading	textBlock	The admission of the Token to trading took place before December 30, 2024, and aimed at promoting a broad circulation and distribution among potential Users, enabling them to fully engage with and benefit from the Safe Protocol. Furthermore, listing the Token on secondary markets was expected to enhance its liquidity.
E.3 Fundraising target
Target expressed in currency	monetary		EUR
Target expressed in units	decimal
Target expressed in digital token identifier	text	Not applicable. See explanation under E.03.
E.4 Minimum subscription goals
Goals expressed in currency	monetary		EUR
Goals expressed in units	decimal
Goals expressed in digital token identifier	text	Not applicable. See explanation under E.03.
E.5 Maximum subscription goals
Goasl expressed in currency	monetary		EUR
Goals expressed in units	decimal
Goals expressed in digital token identifier	text	Not applicable. See explanation under E.03.
E.6 Oversubscription acceptance	boolean
E.7 Oversubscription allocation	text	Not applicable. See explanation under E.03.
Issue price details
E.8 Issue price	decimal
E.9 Official currency determining issue price	enumeration
E.9 Any other tokens determining issue price	text	Not applicable. See explanation under E.03.
E.10 Subscription fee
Fee expressed in currency	monetary		EUR
Fee expressed in units	decimal
Fee expressed in digital token identifier	text	Not applicable. See explanation under E.03.
E.11 Offer price determination method	text	Not applicable. See explanation under E.03.
E.12 Total number of offered or traded other tokens	integer	740405982
E.13 Targeted holders	enumeration	All types of investors
E.14 Holder restrictions	text	Trading Platforms, in accordance with applicable laws and their internal policies, may impose restrictions on Token buyers and sellers. These may include, among others, the successful completion of Know Your Customer (KYC) procedures, Anti-Money Laundering (AML) checks, and measures to combat the financing of terrorism (CFT).
E.15 Reimbursement notice	boolean true
E.16 Refund mechanism	textBlock	Not applicable. See explanation under E.03.
E.17 Refund timeline	text	Not applicable. See explanation under E.03.
E.18 Offer phases	textBlock	Not applicable. See explanation under E.03.
E.19 Early purchase discount	textBlock	Not applicable. See explanation under E.03.
E.20 Time-limited offer	boolean
E.21 Subscription period beginning	date
E.22 Subscription period end	date
E.23 Safeguarding arrangements for offered funds or other tokens	textBlock	Not applicable. See explanation under E.03.
E.24 Payment methods for other token purchase	textBlock	The method of payment for the purchase and sale of the Token on the Trading Platforms has been determined unilaterally by the respective Trading Platforms. The payments of methods include fiat (such as USD and EUR) and crypto-assets (such as USDT or BTC).
E.25 Value transfer methods for reimbursement	textBlock	Not applicable. See explanation under E.03.
E.26 Right of withdrawal	textBlock	Not applicable. See explanation under E.03.
E.27 Transfer of purchased other tokens	textBlock	The purchased Tokens can be transferred to or from the purchaser's compatible wallet or technical device as designated by the Trading Platforms. The Foundation bears no responsibility for any transfers of the Token between buyers and sellers conducted on the Trading Platforms.
E.28 Transfer time schedule	text	The transfer of the Token from the seller's wallet or device to the buyer's wallet or device may not occur immediately. The Foundation has no control over the timing of such transfers.
E.29 Purchaser's technical requirements	textBlock	Token holder must comply with the technical requirements specific to the Trading Platforms on which the Token is admitted to trading, which may include the following: 1. A compatible digital wallet or account on supported Trading Platforms; and 2. Internet access.
Other token services provider characteristics
E.30 Other token service provider (CASP) name	text	Not applicable.
E.31 CASP identifier	LEI
E.32 Placement form	enumeration	Not applicable
Trading platforms characteristics
E.33 Trading platforms name	text	The Token is traded on the following MiCA licensed Trading Platforms: - OKX - Kraken - Bitvavo - Revolut
E.34 Trading platforms market identifier code (MIC)	text	OKX MIC: OEUR Kraken MIC: PESL Bitvavo MIC: VAVO Revolut MIC: REVX
E.35 Trading platforms access	text	Trading Platforms are accessible via their respective website or applications for mobile device.
E.36 Involved costs	textBlock	The use of services offered by Trading Platforms may involve costs, including transaction fees, withdrawal fees, and other charges, which should be notified to users in advance. These costs are determined and set by the respective Trading Platforms and are not controlled, influenced, or governed by the Foundation.
E.37 Offer expenses	textBlock	Not applicable. See explanation under E.03.
E.38 Conflicts of interest	textBlock	Not applicable.
E.39 Applicable law	textBlock	Seeking admission to trading of the Token shall be governed by the laws and regulations of Switzerland where the Foundation is incorporated, as well as the European Union law, including Regulation (EU) 2023/1114 on Markets in Crypto-Assets (MiCAR) together with any mandatory provisions of applicable national laws of the respective Member States (to the extent the latter do not contradict mandatory provisions of EU law). Once the Tokens are trading, the legal relationship and applicable law between the Trading Platforms and their users shall be determined on the basis of the law governing the contract between them and the applicable mandatory provisions of EU law. Nothing in this whitepaper shall deprive any consumer located in the EU or EEA of the mandatory rights conferred on that consumer by the consumer-protection legislation of his or her country of habitual residence, if applicable.
E.40 Competent court	textBlock	The courts of the Zug in Switzerland constitute a proper and convenient forum for disputes, claims or proceedings related to Foundartion as it is incorporated in Switzerland, Zug. Any disputes arising in connection with the seeking of admission to trading of the Token that are between the Foundation and the respective Trading Platform for crypto-assets shall be determined by the respective competent court depending on the contractual arrangement (if any) between the parties and the mandatory provisions of applicable law. The competent court for any disputes between Trading Platforms and their users shall be determined on the basis of the contract between them and the applicable EU law. If you are an EU or EEA consumer, you may bring any judicial proceedings before the competent court of your place of residence.
Part F - Information about other tokens
F.1 Crypto-asset type	text	Crypto-assets other than e-money tokens or asset-referenced tokens.
F.2 Other token functionality	textBlock	Token holders can use Tokens to access the following services provided on the Protocol: ▪ Interact with the Safe Governance Mechanism The purpose of the governance function of the Token is to create a stable and trustworthy ecosystem by allowing the Safe Community to access and participate in the decentralized ecosystem decision-making process. Token holders only participate in technical and/or operational decision-making. They have no influence over the corporate governance/policy of the Foundation or any other party of the Safe ecosystem nor are they entitled to receive monetary benefits in the form of distributions from the SafeDAO, the Foundation or any other party of the Safe ecosystem.. ▪ Interact with Safenet Protocol: The Token is necessary to become a Validator of Safenet.
F.3 Planned application of functionalities	textBlock	The Token is a fully operational crypto-asset with established functionality.
A description of the characteristics of the other token, including the data necessary for classification of the crypto-asset white paper in the register referred to in Article 109 of Regulation (EU) 2023/1114, as specified in accordance with paragraph 8 of that Article
F.4 Type of crypto-asset white paper	enumeration	Other crypto-asset token white paper
F.5 Type of submission	enumeration	Modify
F.6 Other token characteristics	textBlock	Token holders can use Tokens to access the following services provided on the Protocol: ▪ Interact with the Safe Governance Mechanism The purpose of the governance function of the Token is to create a stable and trustworthy ecosystem by allowing the Safe Community to access and participate in the decentralized ecosystem decision-making process. Token holders only participate in technical and/or operational decision-making. They have no influence over the corporate governance/policy of the Foundation or any other party of the Safe ecosystem nor are they entitled to receive monetary benefits in the form of distributions from the SafeDAO, the Foundation or any other party of the Safe ecosystem. ▪ Interact with Safenet Protocol: The Token is necessary to become a Validator of Safenet.
F.7 Commercial name or trading name	text	See F.14.
F.8 Website of the issuer	text	www.safefoundation.org
F.9 Starting date of offer to the public or admission to trading	date	2024-04-23
F.10 Publication date	date	2026-05-14
F.11 Any other services provided by the issuer	textBlock	None.
F.12 Language or languages of white paper	text	English.
F.13 Digital token identifier code used to uniquely identify the crypto-asset or each of the several crypto assets to which the white paper relates, where available	text	VQQNZSQ1H
F.14 Functionally fungible group digital token identifier, where available	text	GLNXBZWH5
F.15 Voluntary data flag	boolean	false
F.16 Personal data flag	boolean	true
F.17 LEI eligibility	boolean	false
F.18 Home member state	enumeration	Ireland
F.19 Host member states #1	enumerationSet	Austria
F.19 Host member states #2	enumerationSet	Belgium
F.19 Host member states #3	enumerationSet	Bulgaria
F.19 Host member states #4	enumerationSet	Croatia
F.19 Host member states #5	enumerationSet	Cyprus
F.19 Host member states #6	enumerationSet	Czechia
F.19 Host member states #7	enumerationSet	Denmark
F.19 Host member states #8	enumerationSet	Estonia
F.19 Host member states #9	enumerationSet	Finland
F.19 Host member states #10	enumerationSet	France
F.19 Host member states #11	enumerationSet	Germany
F.19 Host member states #12	enumerationSet	Greece
F.19 Host member states #13	enumerationSet	Hungary
F.19 Host member states #14	enumerationSet	Iceland
F.19 Host member states #15	enumerationSet	Italy
F.19 Host member states #16	enumerationSet	Latvia
F.19 Host member states #17	enumerationSet	Liechtenstein
F.19 Host member states #18	enumerationSet	Lithuania
F.19 Host member states #19	enumerationSet	Luxembourg
F.19 Host member states #20	enumerationSet	Malta
F.19 Host member states #21	enumerationSet	Netherlands
F.19 Host member states #22	enumerationSet	Norway
F.19 Host member states #23	enumerationSet	Poland
F.19 Host member states #24	enumerationSet	Portugal
F.19 Host member states #25	enumerationSet	Romania
F.19 Host member states #26	enumerationSet	Slovakia
F.19 Host member states #27	enumerationSet	Slovenia
F.19 Host member states #28	enumerationSet	Spain
F.19 Host member states #29	enumerationSet	Sweden
Part G - Information on rights and obligations attached to other tokens
G.1 Purchaser rights and obligations	textBlock	The Token does not confer any rights or entitlements to its holders. Instead, the Token enables its holders to participate in the decentralized governance system of the Safe ecosystem and to secure the Safenet network through delegation of Token to Validators.
G.2 Exercise of rights and obligations	textBlock	Not applicable.
G.3 Conditions for modifications of rights and obligations	textBlock	Not applicable.
G.4 Future public offers	textBlock	None at the time of the present notification.
G.5 Issuer retained other token	integer	505000000
G.6 Utility token classification	boolean	false
G.7 Key features of goods or services utility tokens	text	Not applicable. See Section G.6
G.8 Utility tokens redemption	text	Not applicable. See Section G.6
G.9 Non-trading request	boolean	true
G.10 Other tokens purchase or sale modalities	text	Not applicable. See Section G.9
G.11 Other tokens transfer restrictions	text	There are no restrictions on transfers other than those that may be required by Trading Platforms to comply with applicable law.
G.12 Supply adjustment protocols	boolean	false
G.13 Supply adjustment mechanisms	text	Not applicable. See Section G.12.
Other token schemes details
G.14 Token value protection schemes	boolean	false
G.15 Token value protection schemes description	textBlock	Not applicable. See Section G.14.
G.16 Compensation schemes	boolean	false
G.17 Compensation schemes description	textBlock	Not applicable. See Section G.16.
G.18 Applicable law	textBlock	The Tokens do not give rise to obligations or direct rights enforceable against their issuer. The creation of the Tokens is governed by the applicable laws in Switzerland where the issuer entity is incorporated. Nothing in this whitepaper shall deprive any consumer located in the European Union or European Economic Area of the mandatory rights conferred on that consumer by the consumer-protection legislation of his or her country of habitual residence.
G.19 Competent court	textBlock	The courts of Zug, Switzerland, constitute a proper and convenient forum for disputes, claims or proceedings related to the creation of the tokens as the issuer is incorporated in Switzerland, Zug. EU or EEA consumers may be able to bring any judicial proceedings before the competent court of their place of residences.
Part H – Information on underlying technology
H.1 Distributed ledger technology (DTL)	text	Pursuant to article 3 (1) and (2) of MiCA, a Distributed Ledger Technology ("DLT") means a technology that enables the operation and use of distributed ledgers, i.e., an information repository that keeps records of transactions and that is shared across, and synchronized between, a set of DLT Protocol nodes using a consensus mechanism. The Token is issued under the ERC-20 standard on the Ethereum blockchain. As a decentralized blockchain where transactions are validated and recorded by a distributed set of nodes through a consensus mechanism, Ethereum qualifies as a DLT under MiCA. As such, Ethereum provides the infrastructure for the issuance, transfer and storage of the Token.
H.2 Protocols and technical standards	text	The Token was issued under the ERC-20 fungible token Ethereum standard. The holding, storing and transfer of the Token relies on the Ethereum blockchain technology.
H.3 Technology used	textBlock	The Ethereum protocol and its ERC-20 token standard.
H.4 Consensus mechanism	text	Blockchains rely on consensus mechanisms to ensure their decentralized network of nodes can reach agreement around transaction validity and ordering. Ethereum relies on Proof-of-Stake consensus, which requires that validators stake the native token (e.g. ETH) as collateral in order to qualify as a validator. Validators are selected for consensus based on the proportion of tokens they have staked, and in some cases can lose some of the staked token if they have been shown to sign invalid transactions.
H.5 Incentive mechanisms and applicable fees	text	Validators stake at least 32 ETH as a stake to propose blocks, attest to valid ones, and participate in sync committees. For their participation in the consensus mechanism, validators earn rewards which are paid in newly issued ETH and transaction fees (gas fees). Please refer to the Ethereum website for more details on the mechanisms in place.
H.6 Use of distributed ledger technology	boolean	false
H.7 DLT functionality description	textBlock	Not applicable. See Section H.06.
Other token audit details
H.8 Audit	boolean	true
H.9 Audit outcome	textBlock	There were two first audits of the Token Contract https://github.com/safe-fndn/safe-token/blob/main/docs/g0_audit_token_contract.pdf as well as the Vesting contract: https://github.com/safe-fndn/safe-token/blob/main/docs/g0_audit_vesting_contract.pdf We had two more audits additional to these two related to the vesting and airdrop contracts. The vesting/ airdrop contract is only for how we distributed tokens to investors and ecosystem. A complete list is here: https://github.com/safe-fndn/safe-token/blob/main/README.md#audits The other two audits are:- https://github.com/safe-fndn/safe-token/blob/main/docs/ackee_audit_airdrop_contract.pdf (for the airdrop contract) -https://github.com/safe-fndn/safe-token/blob/main/docs/ackee_audit_vesting_contract.pdf (For the vesting contract) Outcome: Neither audit found any security-related weaknesses. The summary of the audits states: "No issues have been found."
Part I - Information on risks
I.1 Offer-related risks	textBlock	- Listing Risk: The Foundation, its affiliates, directors, and officers shall not be held liable for any damages, losses, costs, fines, penalties, or expenses of any kind – whether or not reasonably foreseeable by the Foundation or the Token holder – that the Token holder may suffer, sustain, or incur in connection with, or as a result of, the Token not being listed on a Trading Platform. - General Contractual and Counterparty Risk: The Foundation does not operate, control, oversee, or manage the functioning of crypto-asset services providers as defined under MiCA ("CASP") operating within the EU/EEA and Trading Platforms (together with CASPs, the "Exchanges"), where the Token will be admitted for trading or listed. - Multiple White Paper Risk: Token holders understand that any third party can decide to draft and publish a MiCA white paper about the Token ("Spontaneous White Paper"). The publication of these Spontaneous White Papers does not imply any endorsement by the Foundation that the Spontaneous White Papers are complete, correct, fair, clear and not misleading. Spontaneous Admission to Trading Risk by Trading Platform: Third parties can elect to admit the Token on their Trading Platforms without any request, authorization or approval by the Foundation or anyone else. Pursuant to article 5 (2) of MiCA, Trading Platforms are responsible for ensuring compliance with all applicable laws, especially MiCA requirements with respect to the spontaneous admission of the Token to trading. The Foundation, its affiliates, directors, and officers shall not be held liable for these spontaneous admissions to trading. - Exchanges Risk: When Token holders buy or sell Token on the Exchanges, the Foundation does not serve as a contractual party or counterparty to the transaction. Consequently, any legal relationship concerning these Exchanges is subject to their own terms and conditions. The Foundation, and its service providers, assume no responsibility for the operations, services, or outcomes associated with any transactions or activity on the Exchanges. The Foundation provides no assurances regarding any Exchange itself and assumes no responsibility or liability for any regulatory, compliance, operational, financial, technical, or reputational failure that may adversely affects its activities. - Pausing and Delisting Risk: The Foundation cannot guarantee that the Token will remain listed or tradeable on any of the Exchanges. Delisting (or the temporary pausing of such listing) on any of the Exchanges could significantly hinder the ability of Token holders to buy, sell, or otherwise transact in Token. In the event of delisting, Token holders may face challenges in finding alternative markets or counterparties willing to trade or transact in the Token, which could impact the liquidity and market value of Token. - Trading Risk: The Foundation does not control the secondary markets. There can be no assurance as to the secondary market (if any) in Token. It cannot guarantee the depth, stability, or sustainability of any secondary market for Token. Limited market depth or trading activity may result in reduced liquidity, increased price volatility, and challenges in buying or selling the Token at desired prices. The Foundation also cannot guarantee the healthy and consistent availability of buying or selling opportunities for the Token or the integrity of the market price. Trading activity may be affected by manipulative practices such as wash trading, front-running, and similar schemes. While Exchanges and other Trading Platforms may be subject to varying regulatory frameworks that may or may not prohibit such practices and impose oversight to detect and deter them, the Foundation assumes no responsibility or liability for their effective prevention or enforcement. - Operational and Technical Risk: The Exchanges operate interfaces that allow users to trade crypto-assets for or other crypto-assets. The reliance on any Exchanges' internal system for asset storage and transfer adds an additional layer of counterparty risk, as users are exposed to potential operational, technical, or human errors during these processes, including the following: Trades on an Exchange may be executed based on a centralized matching algorithm and are often recorded off-chain, meaning they are not directly related to transparent on-chain transfers of crypto-assets, and could dissimulate detrimental trade matching or rogue practices. The traded assets are recorded solely on the Exchange's internal ledger, with each internal ledger entry corresponding to an offsetting trade involving either government currency or another crypto asset. Funds deposited by users for trading may be co-mingled by the Exchanges, rather than stored in unique wallet addresses for each user. This practice results in the centralization of a large volume of assets in a single location, which in turn increases the potential risk of damage or theft, particularly in the event of a hack or security breach. Furthermore, users who wish to trade or withdraw their Token may be required to deposit them into the Exchange, increasing the risk of loss in the event of a failure of the deposit or withdrawal Token processes set up by an Exchange. - Unanticipated Risks: In addition to the risks outlined in this Section, unforeseen risks may arise. Additionally, new risks could emerge as unexpected variations or combinations of the risks discussed in these Sections I.01 to I.05.
I.2 Issuer-related risks	textBlock	The person seeking admission to trading, i.e., the Foundation is simultaneously the entity controlling the technical minting of the Token. As such, the person seeking admission to trading qualifies as the issuer within the meaning of article (3) (1) (10) of MiCA. Given that the issuer and the person seeking admission are the same entity, and for the sake of consistency, statements related to the issuer shall be deemed as statements related to the person seeking admission, i.e., the Foundation. - Abandonment/Lack of Success Risk: The Safe Project and the activities of the Foundation may be partially or totally abandoned for several reasons including, but not limited to, the lack of interest from the public, incapacitation or withdrawal of Token key developers and project supporters, force majeure (including pandemics and wars) or lack of commercial success or prospects. - Change Risk: The Safe Project may evolve over time. This could involve pivoting from the original vision of the Safe Project or modifying how the vision and objectives of the project are executed. Such changes may be driven by market conditions, regulatory development, technological advancements, or strategic decisions by Safe Project contributors. While adaptation and change can foster innovation, it also introduces risks, including shifts in value proposition and potential misalignment with prior expectations. - Decentralization Risk: The Safe Protocol and Safe Wallet are neither operated nor controlled by the Foundation or any of its affiliates. Should Token holders interact with the Safe Protocol and/or the Safe Wallet, they are engaging directly with the Safe Protocol and/or the Safe Wallet and potentially with third parties that might have no affiliation or relationship with the Issuer. This means that the Issuer does oversee or manage these interactions, and neither of them does assume responsibility for any outcomes that may arise. - Partner Risk: The implementation of the Safe Protocol and/or the Safe Wallet depends strongly on the collaboration and functioning of services provided by several third parties, core contributors, activities of the legal entities associated with the project and other crucial ecosystem partners. Loss or changes in the project's leadership, key partners, and other service providers can lead to disruptions, loss of trust, reputational damage, or even complete project failure. The Foundation cannot guarantee that the Safe Protocol and/or the Safe Wallet will be successfully deployed and remain operational in perpetuity. - Legal and Regulatory Compliance Risk: Crypto-assets and blockchain technologies are subject to an evolving regulatory landscape worldwide. Regulations vary widely across jurisdiction and may be subject to significant changes, which would lead to changes with respect to the trading of the Token. Changes in laws or regulations may negatively impact the value, legality, or functionality of the Token. Non-compliance with changing or newly formed regulations can result in investigations, enforcement actions, penalties, fines, sanctions, or the prohibition of trading of Token, impacting the Safe Project's viability and market acceptance. The Foundation, core contributors, or other ecosystem partners could be subject to private litigation. Additionally, any legal uncertainties, potential lawsuits, or adverse legal rulings can pose significant risks to the project. Legal challenges may ultimately affect the legality, usability, or value of the Token. - Reputational Risk: There could be a risk of negative publicity related to the Protocol and its affiliated legal entities, whether due, without limitation to operational failures, security breaches, or association with illicit activities, all of which can damage the Protocol ecosystem reputation and, by extension, the value and usability of the Token. - Operational Risk: Any failure to develop or maintain effective internal control or any difficulties encountered in the implementation of such controls could harm the operations of the Foundation, causing disruptions, financial losses, or reputational damage. - Competition Risk: There are other similar crypto-assets and projects in the space and new competitors may enter the market at any time. The effect of existing, new or additional competition on the Token or its market price cannot be predicted or quantified. Competitors may have significantly greater financial, legal, and technical resources than the Foundation and there is no guarantee that the Safe Project will be able to compete successfully, or at all, with such competitors. - Unanticipated Risks: In addition to the risks outlined in this Section, unforeseen risks may arise. Additionally, new risks could emerge as unexpected variations or combinations of the risks discussed in these Sections I.01 to I.05.
I.3 Other tokens-related risks	textBlock	- Market Risk: Crypto-assets, including the Token, are highly volatile, with prices subject to significant fluctuations in short periods due to market sentiment, regulatory news, technological advancements, and macroeconomic factors, which increases the risk of sudden and substantial losses. Such valuation risk arises as the market value of a crypto-asset may not always reflects its underlying utility or fundamental and is subject to subjective assessment. Token holders are thus exposed to potential losses due to the Token's: Potential fluctuations in value, driven by various factors such as supply and demand dynamics, Token purchasers' and holders' sentiment, and broader market trends, including changes in interest rates, general movements in local and international markets, technological advancements, regulatory changes, and media coverage. Notably, momentum pricing of crypto-assets has previously resulted, and may continue to result, in speculation regarding future appreciation or depreciation in the value of such assets, further contributing to volatility and potentially inflating prices at any given time. Liquidity risk, where a lack of depth in secondary markets - if any - or limited trading volumes can hinder the ability to execute trades at favorable prices, which could lead to significant losses, especially in fast-moving market conditions. As a result, Token holders may experience challenges in managing their holdings, with the value of the asset subject to unpredictable fluctuations and potential depreciation. Solvency and collateral risk, if the Token is used to finance further activities, especially in leveraged positions or as collateral for loans. Significant fluctuations in the value of the Token could adversely affect the solvency of its holder, particularly if the Token is pledged as collateral. A drastic decline may trigger margin calls or automatic liquidations, which could further depress Token's price creating a negative feedback loop. This volatility poses the risk of forced asset sales, potentially resulting in substantial losses for the holder and amplifying downward pressure on the market price of the Token. -Custodial Risk: The method chosen to store the Token, like any crypto-asset, carries inherent risks related to the security and management of the storage solution. The chosen storage method – whether hot or cold wallets, or centralized custody – can significantly impact the safety, liquidity, and accessibility of the Token, with direct consequences for the holder's ability to access, trade, or retain their assets. -Scam Risk. Token holders may be subject to the risk of loss resulting from a scam or fraudulent schemes perpetrated by malicious actors targeting Token holders. These scams include, but are not limited to, phishing or social engineering on social Protocols or by email, fake giveaways, identity theft or impersonation of key contributors to the Safe Project, creation of fake Tokens, offering fake Token airdrops, among others. Token holders, recipients and purchasers should always verify and confirm that they are interfacing with legitimate websites, personnel, and other assets associated with the Safe Project. -Anti-Money Laundering/Counter-Terrorism Financing (AML/CTF) Risk: Crypto-asset wallets holding Token or transactions in Token may be used for money laundering or terrorist financing purposes or attributed to a person or entity known to have committed or is associated with such offenses. Consequently, there is a risk that a public wallet address holding Token could be flagged in relation to AML/CTF efforts. In such cases, receiving Tokens could result in a holder's address being flagged by relevant authorities, Exchanges, or other service providers, which may lead to restrictions on transaction or the freezing of a holder's assets. Token holders may thus face legal or regulatory challenges if their address becomes associated with illicit activities, impacting their ability to freely access, trade, or transfer their tokens. -Taxation Risk: The taxation regime that applies to the trading of Tokens by either individual holders or legal entities will depend on each Token holder's jurisdiction. The Foundation cannot guarantee that the holding of the Token, the receipt of the Token, conversion of fiat currency against the Token, or other conversion of other crypto assets against the Token, will not incur tax consequences. It is the Token holder's sole responsibility to comply with all applicable tax laws, including, but not limited to, the reporting and payment of income tax, wealth tax, capital gains tax, or other similar taxes arising in connection with the appreciation and depreciation of the Token. - Market Abuse Risk: The market for crypto-assets is rapidly evolving, spanning local, national, and international protocols with an expanding range of assets and participants. Any market abuse, along with a potential loss of confidence among holders, could adversely impact the value and stability of the Token. Notably: Significant trading activity may take place on systems and protocols with limited oversight and predictability. Sudden and rapid changes in the supply or demand of a crypto-asset, particularly those with low market capitalization or low unit prices, can result in extreme price volatility. Additionally, the inherent characteristics of crypto-assets and their underlying infrastructure may be exploited by certain market participants to engage in abusive trading practices such as front-running, spoofing, pump-and-dump schemes, and fraud across different protocols, systems, or jurisdictions. - Legal and Regulatory Risk: There is a lack of regulatory harmonization globally, which results in diverging regulatory frameworks. Regulations related to crypto-assets remain in flux globally with possible further regulatory evolution in the future. Divergent and shifting regulation could negatively impact the value, utility and overall viability of the Token. Specifically: While Token is characterized as a token used to access and interact with the Protocol, certain non-EU regulators may nevertheless classify the Token as a security, financial instrument, or payment instrument under their respective legal frameworks. Such classifications could impose specific regulatory constraints, leading to significant changes in how the Token is structured, purchased, or traded. Evolving regulations could substantially increase compliance costs and operational burdens relating to facilitating transactions in the Token. New or restrictive regulations could result in Token losing functionality, depreciating in value, or even becoming illegal or impossible to use, buy or sell in certain jurisdictions. Regulators could take enforcement action against the Foundation, if they determine that the Token constitutes a regulated instrument that has been issued in a non-compliant manner or that the activities of the project, its core contributors or other ecosystem partners violate existing laws. Such actions could expose such parties to legal and financial penalties, including civil and criminal liability. -Unanticipated Risks: In addition to the risks outlined in this Section, unforeseen risks may arise. Additionally, new risks could emerge as unexpected variations or combinations of the risks discussed in these Sections I.01 to I.05
I.4 Project implementation-related risks	textBlock	- Novel Ecosystem Risk: The Safe Protocol and Safe Wallet and its ecosystem are built on emerging and rapidly evolving technologies, which inherently carry significant risks. The underlying software, blockchain infrastructure, smart contracts, and related technologies are still in their early stages of development, meaning there is no guarantee that the process of receiving, using or holding the Token will be uninterrupted or error-free. As with any novel technology stack, there is an inherent risk that the underlying blockchain, smart contracts, novel technical features, or associated components may contain weaknesses, vulnerabilities, or bugs, despite audits being conducted. Such issues could lead to unintended behaviors, security breaches, or critical failures, potentially resulting in the partial or complete loss of the Token or their functionality or the inability to access or use the services of the Safe Protocol and Safe Wallet. Furthermore, unforeseen technical limitations, incompatibilities, or the emergence of superior alternative could further impact the stability, security, and long-term success and viability of the Protocol ecosystem. - Dependency Risk: The Safe Protocol and Safe Wallet rely on third-party technologies, infrastructures, and protocols, which could impact its functionality, security, and long-term sustainability. Any disruptions, vulnerabilities, regulatory scrutiny or changes in the Safe Protocol and Safe Wallet may result in a negative effect on the Token. This reliance on external infrastructure increases systemic risk, as unforeseen issues in third-party infrastructure could cascade into disruptions in the ecosystem. - Decentralized Governance Risk: Participation in the Safe decentralized governance may involve various risks and uncertainties. The Token holders understand and acknowledge that decentralized autonomous organizations ("DAOs") are not recognized as legal entities that shield their members from personal liability in many jurisdictions. In some jurisdictions, DAOs are qualified as general partnerships in which the members can be held liable for expenses and liabilities incurred by the other members in connection with affairs that are conducted on behalf of the partnership. In addition, changes and/or updates to the Safe Project and the Safe Project's key parameters, smart contracts and software code may be subject to the Safe decentralized decision-making process. This may result in adverse changes to the Safe Project. The Foundation cannot predict the proposals and decisions of the Safe's decentralized governance and assumes no responsibility or liability for them. Governance decisions are made collectively by the community of Token holders, who can propose, vote on, and implement changes. This decentralization promotes transparency and inclusivity, it also introduces significant risks. Since the Foundation has no direct authority over governance decisions, it cannot unilaterally intervene or override changes, even if they are detrimental to the ecosystem. The community may reject crucial decisions, potentially leaving fundamental issues pertaining to its scope of power unaddressed. Conversely, Token holders could propose and approve amendments that introduce unforeseen technical, economic, or security risks, negatively impacting the usability, value, or regulatory standing of Tokens. This decentralized decision-making process may lead to fragmentation, conflicts of interest, governance deadlocks, and alike, all of which could undermine the sustainability and security of the Safe Project and/or the ecosystem. - Reliability Risk: There is a risk that that the key features and services of the Safe Protocol and/or Safe Wallet may not always function properly, negatively affecting the community's perception of the Safe Protocol and/or Safe Wallet and its underlying technology and in turn, affecting the value of the Token. The Safe Protocol and/or Safe Wallet have been deployed on an "as is" and "as available" basis without warranties of any kind. The Foundation cannot and do not warrant that the Token, the software code of the Token, or the Safe Protocol and Safe Wallet are reliable current or error-free, free of viruses or other harmful components. - Unanticipated Risks: In addition to the risks outlined in this Section, unforeseen risks may arise. Additionally, new risks could emerge as unexpected variations or combinations of the risks discussed in these Sections I.01 to I.05.
I.5 Technology-related risks	textBlock	The person seeking admission to trading and its affiliate, directors and officers shall not be responsible or liable for any damages, losses, costs, fines, penalties or expenses of whatever nature, whether reasonably foreseeable by them and the Token holder, and which the Token holder, may suffer, sustain, or incur, arising out of or relating to the technical risks outlined below or a combination thereof. General Cybercrime Risk: The Token holder acknowledges that, despite best efforts to enhance security, the technological components supporting the Token - including its blockchain infrastructure, smart contracts, wallets - may be vulnerable to cyberattacks. Malicious actors may exploit software vulnerabilities, attack consensus mechanisms, or compromise private keys to gain unauthorized access to Tokens. Risks include hacking attempts on the Safe Protocol and/or Safe Wallet, smart contract exploits, phishing attacks, malware infections, and other forms of cybercrime that could result in the theft, loss, or unauthorized transfer of Tokens. Since digital assets exist entirely in a technological environment, they are inherently exposed to evolving cyber threats, some of which may be undetectable or irreparable until after significant damage has occurred. - Blockchain-Level Risk: The Token holder understands and accepts that, as with other blockchains, the blockchain used for the issuance of the Token could be susceptible to consensus-related attacks, including but not limited to double-spend attacks, DDoS attacks, majority validation power attacks, censorship attacks, and byzantine behavior in the consensus algorithm, Sybil attacks or be subject to forks. Any successful attack or fork presents a risk to the Token, the expected proper execution and sequencing of Token-transactions and the expected proper execution sequencing of contract computations as well as the token balances in the wallet of the Token holders. - Smart Contract-Level Risk: The issuance and transfers of Tokens rely on smart contracts deployed on a blockchain network, which introduce specific technical and security risks. Smart contracts are self-executing, meaning any vulnerabilities, coding errors, or unforeseen logic flaws in the issuance contract could result in unintended consequences, such as the incorrect distribution of tokens, loss of funds, or permanent locking of tokens. Additionally, smart contracts are exposed to potential exploits, including hacking attempts, reentrancy attacks, and other forms of malicious activity that could compromise the security of the issuance process. Once deployed, the smart contract governing the issuance of Tokens cannot be easily altered or corrected, meaning any discovered vulnerabilities may be difficult or impossible to fix without significant coordination, community approval, or even a network fork. Furthermore, changes to the underlying blockchain protocol - such as updates to consensus mechanisms, transaction processing rules, or gas fee structures - could affect the functionality or cost efficiency of the issuance smart contract. These risks could lead to disruptions in token issuance, security breaches, or a loss of confidence in the ecosystem, potentially impacting the Token's value and usability. - Safe Protocol and Safe Wallet-Level Risk: It cannot be excluded that any technical failure, malfunction, attack, upgrade or vulnerability within the Safe Protocol and/or the Safe Wallet could directly or indirectly impact the value of the Token. The Network could be subject to critical exploits, such as reentrancy attacks, logic errors, or oracle manipulation, which could lead to unintended token transfers, assets being drained from the system, or tokens being irretrievably lost. Fixing such issues may require significant coordination, governance approval, or even disruptive measures such as protocol migrations or forks, none of which are guaranteed to be successful. Because the Token's value is inherently tied to its governance functionality, any security breach, or governance deadlock affecting the Safe Protocol and/or the Safe Wallet or the decentralized governance system could have cascading effects, including depreciation of the Token's value, reduced market confidence, and potential loss of funds for token holders. - Third-Party Risk: Crypto-assets such as the Token often rely on third-party services such as exchanges and wallet providers for trading and storage. These providers can be susceptible to security breaches, operational failures, and regulatory non-compliance, which can lead to the loss or theft of crypto-assets. The Safe Protocol and/or the Safe Wallet encapsulate young technologies, which is why there is no warranty that the process for receiving, using, and holding the Token will be uninterrupted or error-free and that there is an inherent risk that the underlying blockchain, the smart contracts thereon, as well as any related technologies or concepts could contain weaknesses, vulnerabilities or bugs causing, inter alia, the complete loss of Token or its functionalities. - Unanticipated Risks: In addition to the risks outlined in this Section, unforeseen risks may arise. Additionally, new risks could emerge as unexpected variations or combinations of the risks discussed in these Sections I.01 to I.05.
I.6 Mitigation measures	textBlock	While security audits have been conducted (see H.09), potential Token holders understand that the risks outlined in Sections I.01 to I.05 above are inherent to the Safe Project activities and its broader ecosystem, making elimination impossible. To further reduce exposure to these risks, prospective Token holders should adopt appropriate safeguards based on their chosen custody method and remain vigilant by actively monitoring publicly available news and market signals, enabling them to respond swiftly to significant developments which may result in the materialization of specific risks.
Part J - Information on the sustainability indicators in relation to adverse impact on the climate and other environment-related adverse impacts
J.1 Adverse impacts on climate and other environment-related adverse impacts	textBlock	The below is information on the principal adverse impacts on the climate and other environment-related adverse impacts of the consensus mechanism used to validate and finalize transactions in the Tokens and to maintain the integrity of the distributed ledger of transactions. The energy consumption for the validation and finality of transactions and the maintenance of the integrity of the distributed ledger of transactions for the period is estimated on a yearly basis (see S.08).
Mandatory information on principal adverse impacts on the climate and other environment-related adverse impacts of the consensus mechanism
General information about adverse impacts
S.1 Name	text	Safe Ecosystem Foundation
S.2 Relevant legal entity identifier	text	CHE-295.207.842
S.3 Name of the crypto-asset	text	SAFE Token
S.4 Consensus mechanism	text	See H.04.
S.5 Incentive mechanisms and applicable fees	text	See H.05.
S.6 Beginning of period to which disclosed information relates	date	2025-10-29
S.7 End of period to which disclosed information relates	date	2026-10-29
Mandatory key indicator
S.8 Energy consumption	energy (kWh)	Below 500'000 kWh yearly.
Sources and methodologies
S.9 Energy consumption sources and methodologies	textBlock	The estimated energy consumption in J.08 was calculated using the methodology recommended by the Crypto Carbon Ratings Institute in its December 2024 Paper, version 2.0 "Methodologies to calculate sustainability indicators for the EU Markets in Crypto-Assets (MiCA) regulation", to be found at https://carbon-ratings.com/dl/whitepaper-mica-methods-2024.
Supplementary information on principal adverse impacts on climate and other environment-related adverse impacts of consensus mechanism
Supplementary key indicators
S.10 Renewable energy consumption	percent	0%
S.11 Energy intensity	energy (kWh)	0
S.12 Scope 1 DLT GHG emissions - controlled	GHG emissions (tCO2e)	0
S.13 Scope 2 DLT GHG emissions - purchased	GHG emissions (tCO2e)	0
S.14 GHG intensity	GHG emissions (tCO2e)	0
Sources and methodologies
S.15 Key energy sources and methodologies	textBlock	Not applicable
S.16 Key GHG sources and methodologies	textBlock	Not applicable
Optional information on principal adverse impacts on the climate and on other environment-related adverse impacts of the consensus mechanism
Optional indicators
S. 17 Energy mix	percent	0%
S.18 Energy use reduction
Energy use reduction target (absolute value)	energy (kWh)	0
Energy use reduction target (percentage)	percent	0%
S.19 Carbon intensity (kgCO2e/kWh)	decimal	0
S.20 Scope 3 DLT GHG emissions - value chain	GHG emissions (tCO2e)	0
S.21 GHG emissions reduction targets or commitments	textBlock	Not applicable.
S.22 Generation of waste electrical and electronic equipment (WEEE)	mass (tonnes)	0
S.23 Non-recycled WEEE ratio	percent	0%
S.24 Generation of hazardous waste	mass (tonnes)	0
S.25 Generation of waste (all types)	mass (tonnes)	0
S.26 Non-recycled waste ratio (all types)	percent	0%
S.27 Waste intensity (all types)	mass (tonnes)	0
S.28 Waste reduction targets or commitments (all types)	textBlock	Not applicable.
S.29 Impact of use of equipment on natural resources	textBlock	Not applicable.
S.30 Natural resources use reduction targets or commitments	textBlock	Not applicable.
S.31 Water use	volume (m3)	0
S.32 Non recycled water ratio	percent	0%
Sources and methodologies
S.33 Other energy sources and methodologies	textBlock	Not appliable.
S.34 Other GHG sources and methodologies	textBlock	Not appliable.
S.35 Waste sources and methodologies	textBlock	Not applicable.
S.36 Natural resources sources and methodologies	textBlock	Not appliable.