what's Safenet?

Safenet is a decentralized transaction processing network developed by the Safe Ecosystem Foundation, designed to address liquidity fragmentation in DeFi by enabling instant cross-chain transactions with execution guarantees across multiple networks. It operates as a liquidity network that facilitates seamless interoperability, allowing users to execute transactions on any supported chain without traditional bridging delays or risks. By leveraging smart contract infrastructure, Safenet aims to scale the global economy onchain, targeting the movement of trillions in value through efficient, secure, and decentralized processing. Originally focused on unified balances and chain abstraction features, Safenet's codebase has been open-sourced under the GPL license to empower community-driven development, while its parent project Safe continues to prioritize advancements in self-custody security for smart accounts.

Safenet Beta protocol recorded 100,000 transactions in its first two weeks.