Safe token drops 42% after enabling transfers

Safe’s decentralized autonomous organization enabled token transferability on April 23 after achieving several milestones.

After unlocking the transferability of its tokens, the price of Safe token’s plummeted by 42%, going from $3.26 on the day of the unlock to $1.88 on April 30. 

Safe’s token contract was unpaused on April 23, enabling holders to transfer their tokens. These tokens had been locked for two years following the decision of the project’s decentralized autonomous organization (DAO) to implement the lock in 2022.

This follows a vote from SafeDAO over a token transferability proposal that saw 99.1% of participants voting to ratify the proposal.

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