The price of SafeDAO's native token SAFE dropped by 42% after the unlocking of the token, going from $3.26 to $1.88 on April 30. The token contract for Safe was paused on April 23 to allow owners to transfer their tokens that had been locked for two years since the decision made by the decentralized autonomous organization in 2022.

Following a vote where 99.1% of SafeDAO participants approved the proposal for token transferability, the DAO decided to delay the release of tokens to ensure a phased decentralization process. They collaborated on a roadmap focusing on governance processes and resource allocation to mature these areas before unlocking the tokens, in line with milestones set by the DAO.

In a statement, a Safe spokesperson shared that unlocking the SAFE token was a step towards enhancing user experience through smart accounts, aiming to make crypto ownership easier and more accessible. Despite the significant increase in user base, the lack of token transferability, and the impact of the crypto winter, the Safe team reported assets worth $100 billion, 7.5 million accounts created, and significant ecosystem growth. However, there was a substantial decrease in the token price following the enablement of token transferability by the DAO.

Currently, Safe token is trading at $1.88 after the drop from $3.26 recorded on April 23. The project aims to create an ownership layer on the internet where users have control over their data, identities, and assets in the Web3 space. They plan to implement native integration for Layer-2s to improve scalability and cross-chain functionality, as well as organize community events for ecosystem development.