A New Chapter Of SafePal — Introducing SFP

Latests: The status of the SFP Airdrop Campaign Round 1 has been updated. Check the announcement here.

Started as a team of 3 with the goal of building the best and the most user-friendly hardware wallet back in 2018 in the Binance Labs incubator in San Francisco, SafePal has come a long way to become what it is today. Nowadays, SafePal is beloved by nearly 60,000 users across more than 80 countries. We are unable to have achieved all these milestones without the support and contribution from every SafePal user and supporter.

With the mission of becoming the most secure and easy-to-use crypto asset management platform, SafePal aims to enrich users’ experience in crypto management continuously . In 2018, our team have built the most cost-effective and game-changing hardware wallet in the market. This year, to provide a broader and frictionless crypto wallet user experience, we have developed and launched the SafePal Software Wallet. Throughout the journey, SafePal has built strategic partnerships with partners such as Binance, Harmony, Tron, Uniswap, Simplex and BTCDirect to bring more useful features to our users. Today, SafePal users are able to not only secure their crypto assets through SafePal hardware and software wallets, but also buy, swap, trade crypto and access Dapps at their fingertips all through the SafePal App.

SafePal Key Milestones

  • 2018. 09  Enrolled in the Binance Labs incubation program Season 1 as the only hardware wallet project
  • 2019. 01  Launched SafePal hardware wallet beta version
  • 2019. 05  Started service on SafePal S1 Hardware Wallet with 10 different languages
  • 2019. 06  One of the early adopters that integrated Binance DEX
  • 2019. 12  Supported Buy Crypto feature
  • 2019. 04  Reinforced 19 blockchains and 10,000+ tokens
  • 2020. 05  Launched SafePal Software Wallet to offer DeFi to wallet users
  • 2020. 06  Launched SafePal Cross-chain Swap
  • 2020. 08  On-boarded Dapps and implemented Binance spot trading system
  • 2020. 10  Fully supported Binance Smart Chain ecosystem
  • 2020. 11  Embedded ERC721, ERC1155, and BSC NFT standards

To build a broader wallet ecosystem and provide more use cases and a better crypto experience for our users, we are proud to announce that SafePal is ready to move to the next chapter by introducing our native token — SFP Token.

What’s SFP Token?

SFP Token is a utility token that fuels the entire SafePal ecosystem. It is issued by SafePal on the Binance Smart Chain with a fixed supply of 500,000,000.

What’s the value of SFP Token

SFP Token brings user value in the following ways:

Fees & Discounts
Users may use SFP for discounts on the SafePal products and services such as the SafePal Hardware Wallet and SafePal Swap.  

Bonus Program
SafePal users can utilize SFP to claim special coupons and enjoy extra yields on the SafePal Earn programs.

Rewards & Incentives
SFP holders have the privilege to enjoy incentives such as token airdrops from ecological partners, staking rewards, or limited SafePal NFTs.

Community Governance
SFP holders have the ability to create proposals and vote for new features such as adding new blockchains on the SafePal products.  

SFP Token Model

The total supply of SFP is set at 500,000,000, with the allocation shown below:

How can I get SFP Token?

During the take-off stage, a certain percentage of SFP tokens will be airdropped to the community. Till January 31st, 2021, up to 500-1000 SFP tokens will be distributed exclusively to the early supporters who participate in the SafePal product usage and social engagement.

From January 1st to January 3rd, the first round of SFP airdrop is launched. Here are the ways how you can get your SFP tokens in Round 1:

TaskLimited Offering
Download SafePal App, create a wallet and deposit any amount of BTC or ETH25 SFP
Download SafePal App, create wallet and deposit at least 1 BNB25 SFP
Follow SafePal Twitter20 SFP
Join the SafePal community and subscribe SafePal Telegram Channel20 SFP
Buy SafePal S1 Hardware Wallet and pair it with the App300 SFP
Swap $100 and above crypto through SafePal Swap50 SFP
Join the SafePal referral program and invite your friends and families to download SafePal and create a walletAt least 25 SFP for each side
Other cross-airdrop campaign launched with ecological partnersComing soon

Note: Each mobile device or wallet address can only claim once. Detailed tutorials can be found at the end of this article.

To claim the SFP token, firstly make sure you have downloaded the SafePal App from the SafePal download page.

Then head over to the ‘Claim SFP’ Dapps in the App.

In the ‘Claim SFP’ Dapp, you will see different tasks. Now you can start to claim SFP by using SafePal and sharing it with your friends!

How can I see my SFP balance?

You can view your SFP balance directly in the Asset section of the SafePal App. You can see how SFP is claimed and spent in the previous record. Since SFP is not listed in any exchange yet, there is no price tagged on it. The SFP tokens will be reserved and transferred to you when the SFP token is listed on the exchange.

I can’t find the ‘Claim SFP’ Dapp in the SafePal App. Why is that?

Please make sure your SafePal App is upgraded to the latest V2.5.0 to claim SFP.

For the latest SafePal App download, please visit: www.safepal.io/download.

Is the SFP Token transferrable?

The SFP Tokens are not transferrable before any concrete listing plan. At the moment, the only way to get SFP Token is through finishing the tasks in the SafePal App. Once the tokens are claimed, they will be stored and displayed in your SafePal wallet account.

What would be the next phases of SFP and when would they launch?

We are working on a few more phases internally and we will announce new phases of the SFP Token Distribution Program soon for everyone to earn more SFP. Welcome to keep track of these details by following us on Twitter and subscribing to our Telegram channel for the latest updates and announcements about SafePal.

When will SFP be listed on an exchange?

Our team is actively pushing forward the listing process. We are, at the moment, unable to disclose further details on which exchanges and when the listing process will be completed. Please stay tuned and keep track of it through our Twitter and Telegram Channel. Before the listing, we do need YOUR support to grow the SafePal community together. Don’t forget to invite your family and friends to use SafePal and join the token giveaway campaign.

What’s the future of SFP?

As SafePal continues to evolve and develop, more useful features will be added to the SafePal platform to enable users to securely store and conveniently grow their crypto assets. SFP Token, as the core of the SafePal platform, will always be an organic part of the SafePal features. Among all the future roadmap listed below, one important feature to be launched soon in Q1 2021 is SafePal Earn. SafePal Earn is a financial aggregator of DeFi and CeFi for users to earn extra yields by holding crypto assets. Users will be able to choose different wealth management programs with different APYs according to their own risk preferences. When SafePal Earn is launched, SFP holders will enjoy extra yields from their selected programs.

Disclaimer

The Participant understands, accepts, and acknowledges that the crypto-asset market involves risks that should be carefully considered by the Participant prior to taking any decision as to whether or not the Participant should proceed with the airdrop of SFP tokens. It shall be the sole responsibility of the Participant to become informed of any risks that may arise in the crypto-asset market, as well as in the area of blockchain and distributed ledger technology in general.

We’ll update this article regularly with FAQs we receive from the SafePal community. 🙂

Do follow us on Twitter, join the SafePal Telegram group and subscribe to the SafePal Telegram channel for the latest updates & announcements about SafePal.

Veronica

CEO Of SafePal

Useful Tutorials