What is Gnosis Safe?

The Gnosis Safe is a multi-signature smart contract wallet that 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.

how does the SAFE airdrop work?

Safe will distribute a number of SAFE to reward past users. 50M SAFE are allocated for past users, which is 5% of the total supply of the token. the tokens will be distribued to users of safes based on activity.

Stablecoin Farmers

Methodology

In this dashboard we are looking to find Safes that have been created and used solely for the purpose of farming SAFE. We are going to define safes that have had over 98% of the value deposited into them withdrawn in the first 60 minutes of use and not used again as “farming safes''. The data for this dashboard comes from the ethereum.core.fact_event_logs and the ethereum.core.ez_token_transfers tables of Flipside’s database.

Sections

1. stablecoin farmers
2. eth farmers

This is a list of 833 safes that were created and had USDC, USDT, or DAI deposited into them. Then 98% or more of the tokens deposited into them withdrew in 60 minutes, and then never were used again. The reason that the Hold percent could be lower than 0% is that the price of the tokens could have increased slightly while in the wallet causing a small difference in price of tokens withdrawn.

here is a link to all of the stable coin farmers

ETH Farmers

This is a list of 427 safes that were created and had ETH deposited into them. Then 98% or more of the tokens deposited into them withdrew in 60 minutes, and then never were used again.

here is a link to all of the ETH farmers \n

Conclusion

In this dashboard 1260 safes were found where a user deposited ETH or stablecoins in the safe and then withdrew 98%+ of the tokens within 60 minutes. The people using gnosis like this were either intentionally farming activity to get more airdrops or decided that they did not want to use Gnosis very quickly after starting using the dapp. In either of the previous cases the creators of these safes should not receive airdrops for this activity pattern in safe use.