Over $100B is stored in @safe 

This rivals all of DeFi TVL combined

But how does Safe actually keep you safe? 👇

The fastest multisig for onchain teams, powered by @safe
onchainden.com

Safe is a smart account that only executes transactions with enough signatures

To execute a Safe transaction you need to:
- Define the action you'd like to take
- Collect enough signatures from the other signers
- Execute the transaction

Pay gas from your @safe, not your personal wallet

Your days of waiting for gas reimbursement are behind you

Executing the transaction is where the magic happens

Once there are enough signatures, any wallet can call the `execTransaction` function

Typically, this is the last signer who also pays gas. However, modern implementation use gas abstraction so the Safe itself covers gas

Let's dig into what happens in `execTransaction`

There are 3 sets of parameters
- Transaction definition - to, value, data, operation
- Gas parameters - safeTxGas, baseGas, gasPrice, gasToken, refundReceiver
- Signatures to verify the above - signatures

First, the transaction definition and gas parameters are encoded into bytes

This bytes format is what all the individual signers actually signed

It's unique based on:
- the input details of the transaction
- the "nonce"

The nonce is a unique ID for each transaction

Any transaction could be replayed over and over again without it

For example, without a nonce if you paid someone once they could just resubmit the signatures over and over again until your Safe is empty

Next, this bytes data is compared against the signatures produced by the signers

The Safe contract checks that
- Enough signatures have been collected
- Each signature came from a registered signer on the Safe
- Each signature is legitimate and has not been forged

Verifying the signature is a complicated process, with a few different mechanism depending on if a contract or EOA signed the transaction

Once the signatures are verified, the Safe will execute the transaction

This is handled in low-level assembly via `call` or `delegatecall`, depending on the transaction

Want to make the world more informed on how Safe actually works?

Recast this thread to spread the word

Make your Safe 10x faster with Den by clicking the link in our bio

Want to make the world more informed on how Safe actually works?

Recast this thread to spread the word

Make your Safe 10x faster with Den by clicking the link in our bio https://warpcast.com/onchainden/0x80f7f738

Finally, the Safe emits if the transaction succeeded or failed

That's right: even if the internal transaction you specified fails, the multisig transaction itself still continues

You can use tools like Tenderly to understand what went wrong for the future

Executing the transaction is where the magic happens

Once there are enough signatures, any wallet can call the `execTransaction` function

Typically, this is the last signer who also pays gas. However, modern implementation use gas abstraction so the Safe itself covers gas
https://warpcast.com/onchainden/0x61a651b1