Safe Protocol Surpasses Bundlers with Record-Breaking Revenue

The Safe protocol has surpassed other bundlers in terms of revenue and adoption, with over $600 billion in transaction volume processed in 2025. This represents 43% of its lifetime volume, with annualized revenue reaching $10 million, a significant increase from $2 million at the end of 2024. According to Lukas Schor, co-founder of Safe, this growth is driven by the adoption of smart accounts, with 18.3 million new accounts deployed in 2025.

The majority of activity occurs on Layer 2 networks, where 98% of new deployments happen, with Base being the top retail chain and Gnosis acting as the automation engine for AI agents. Institutional users have also adopted the protocol, with the Ethereum Foundation migrating 160,000 ETH worth $650 million to Safe, and Circle holding $2.5 billion in USDC across Safe accounts.

The Pectra upgrade has further enhanced the protocol's capabilities, introducing EIP-7702, which allows for delegation of execution to a smart contract for a single transaction, reducing gas fees and increasing efficiency. However, this new feature also creates new vulnerabilities, with security researchers finding that 65% to 70% of early delegations linked to phishing or scam activity.