The community of Safe, the largest multi-signature wallet provider, is mulling a proposal to establish the first independent revenue stream for the project’s DAO. On Aug. 29, members of the Safe Ecosystem Foundation (SEF), proposed introducing a licensing fee structure for protocols integrating Safe Wallet. The foundation estimated the proposal would generate $2.5 million annually from licensing fees linked to its ‘Native Swaps’ feature. Safe launched Native Swaps in May, allowing Safe Wallet users to exchange assets directly within the wallet via CoW Protocol, a decentralized exchange (DEX). The SEF’s proposal advocates for funneling the transaction fees generated from Native Swaps to SafeDAO’s treasury. Fees would be converted into SAFE tokens and transferred to the project’s treasury reserves. "The intention is to give SafeDAO more agency regarding the use of funds," SEF said. "Our industry... has not yet matured to the point where it generates significant fees. By pledging these fees to SafeDAO, we aim to create community empowerment and a flywheel for the Safe community." Should the proposal receive approval, fee revenue would be diverted to the SafeDAO treasury and become subject to SAFE governance. If the proposal is rejected, the SEF will continue to collect the fees, using them as it sees fit to foster the SAFE ecosystem. Safe accounts currently hold $64 billion worth of assets across 10.5 million wallets, according to Dune Analytics. The project spun out of Gnosis (formerly Gnosis Safe) in July 2022 after raising $100 million at a $1.25 billion valuation. Roughly 5.7 million of 55% of Safe accounts reside on the Optimism network, followed by Polygon with 2.7 million or 26%. Notably, just 270,609 or 2.57% ofaccounts are on Ethereum. Community Feedback The proposal has received support from several community members on Safe’s governance forum. "Safe Swap, especially with its robust technology and shared history with Cow Swap, is a solid first revenue stream,” LuukDAO, a SafeDAO member, wrote. “Community-aligned fees provide a clear pathway for bidirectional value creation between Safe and its ecosystem partners." CorbinPage, another SafeDAO forum goer, said they will “strongly support this proposal” and believe it could “ensure long-term financial stability for SafeDAO." CorbinPage suggested that the DAO could also explore collecting revenue by charging fees for bridging services and selling .safe usernames. However, Engajojo, a community member, suggested that collecting revenue in the form of stablecoins would comprise a more savvy treasury management strategy. "The treasury today holds negligible stables, and, from a treasury management perspective, this is not healthy in the long term,” Engajojo said. “The DAO needs stables to fund externals/service providers.” The price of Safe’s SAFE token last changed hands for $0.80, according to The Defiant’s crypto price feeds. Safe distributed SAFE tokens to 22,000 wallets after splitting from Gnosis in July 2022. In April, the SafeDAO voted to make the SAFE token transferable. However, the token’s price is down from 66% since the tokens became transferable. Read More: Safe and Base Team Up To Promote Ethereum Smart Accounts