Safe, the governance token behind the decentralized finance custodian Safe Protocol, has now become transferable. "The Safe token contract is officially unpaused and SAFE is transferable," the Safe Governance X.com accounted posted on Tuesday.

Since the unlock, the Safe token has decreased by over 19% and was changing hands for $2.8 at 6 a.m. ET. According to Coingecko data, the Safe token's market cap is valued at $1.45 billion — with a fully diluted valuation of over $2.8 billion. The token has a maximum supply of one billion, with a current circulating supply of 427 million. 

Tokens had been locked for almost two years

The DAO’s tokens had been locked for almost two years since their launch via an airdrop in October 2022.

Speaking to The Block, a Safe spokesperson described …