Safe Collaborates with Stripe & Gelato to Release ‘Core’ Open-source Software Stack Aimed at Enhancing Decentralized Space
Coinspeaker
Safe Collaborates with Stripe & Gelato to Release ‘Core’ Open-source Software Stack Aimed at Enhancing Decentralized Space
Swiss-based self-custody infrastructure provider Safe partnered with Gelato and Stripe to launch the open-source software stack Core. According to reports, Safe (formerly known as Gnosis Safe) released the new development stack for simplified Smart Contract development on Ethereum.
In a blog post, Safe said:
“We are doubling down and making our stack available to anyone to build the next generation of account abstraction wallets and solutions. With Safe (Core), we are launching an open-source and modular AA stack that brings a flexible developer experience with the same tested core contracts as the underlying infrastructure.”
Safe Core will incorporate partner solutions from online financial services facilitator Stripe Inc and decentralized finance (DeFi) protocol Gelato. The new initiative makes it simpler for developers to create and manage smart contract functionality. Core does this by separating said functionality from the idea of externally owned accounts, including wallets. Furthermore, the partner solutions from Stripe and Gelato add enhancements such as simplified and authenticated transaction fees and payment flow. In addition, both digital payment platforms also allow for fiat on-ramping.
Beyond facilitating the development of Web3 apps with a Web2-like experience, Core also plans to bridge the gap between Web2 and Web3. The stack can support all AA implementations, such as EIP 4337 and chain native account features.
Safe Co-founder Comments on ‘Core’ Initiative with Stripe & Gelato
Weighing in on the Safe (Core) development, the self-custody infrastructure’s co-founder Richard Meissner said:
“With Core, we are putting a modular stack in the hands of developers to grasp this massive opportunity. We have partnered with the best in the business to improve UX capabilities for on-ramping, relaying, and authentication as part of Safe Core kits. We now invite partners and developers to integrate and improve the experience for average users with the known and tested robustness of Safe infrastructure.”
Safe’s team also announced plans to run a month-long hackathon dubbed “March for Account Abstraction.” This initiative seeks to encourage developers to participate and create on Core, with bounties of more than $50,000 offered by several partners. These include Stripe, Coinbase’s BASE, Web3Auth, Gelato, Cowswap, Gnosis Chain, and Superfluid.
The Safe team reckons that developers could create the next generation of Web3 apps with smoother UX and rich security standards.
Safe’s ‘smart’ custody infrastructure currently secures roughly $40 billion in assets across numerous Ethereum-powered apps.
Rebranding
Gnosis Safe rebranded itself as Safe last July amid a token sale-led $100 million funding. At the time, the infrastructure provider planned to use the generated funds to develop an ecosystem of applications and wallets.
The Safe token sale was led by crypto fund 1kx, with participation from more than 63 other investors. Among the investors were ConsenSys, A&T Capital, Polygon, Tiger Global, Blockchain Capital, and individuals like Punk6529.
Gelato
Gelato is a decentralized backend that empowers builders to create automated augmented smart contracts. The smart contracts are gasless, off-chain aware, and facilitate leading Web3 projects across DeFi, NFT, and gaming.