SafePal Weekly Update (Week 1 March 2021)

Hi everyone,

The past January and February have been an unbelievable journey for SafePal and the community. Since the launch of SFP, SafePal has been growing exponentially. This weekly update is to give a quick review of our track records, share our coming road-map and progress, and answer the most concerned questions from the community.

An Overview Of The Last Two Months

1. SFP Launch & Airdrops

On January 1, 2021, a new milestone of SafePal was launched: the birth of SFP.

SFP is a utility token issued on the Binance Smart Chain that will act as the key element and fuel to the SafePal ecosystem. Its utilities and contract address can be viewed here. The token utilities of SFP are still in the early stage, and the team is actively working to implement SFP as the key element in product usage and community governance.

Throughout January, we have launched two rounds of SFP airdrop to reward all the SafePal users who have been engaged with the product usage. The airdrop was a huge success. More than 39,700 members retweeted the campaign announcement, and more than 250,000 users participated in the airdrop.

2. Binance Launchpad & Listings

On February 1, one month after the SFP was launched, SFP was announced to be the first Binance Launchpad project in 2021. Soon after that, PancakeSwap, MXC, TokoCrypto, Gate.io, and OpenOcean have listed SFP. The all-time-high SFP trading volume has exceeded $1.7 Billion.

To celebrate the SFP listing, we have held a series of AMAs across the Binance community!

3. SafePal S1 Shortage

Due to the active demand for SafePal S1 hardware wallet in the last two months, SafePal S1 has been out of stock for a month. A new batch will arrive this month and another batch will be delivered in mid-April. We hope to deliver the wallets to the users ASAP. Appreciate your patience and understanding throughout the pre-order stage!

4. The Power Of Community

Recently, we have seen massive organic growth across the continents especially in Africa, South & East Asia, and middle-east regions. We’d like to give special thanks to all the volunteers who have been contributing to the community support throughout the peak times:

  • @dacineu
  • @dee_x17
  • @Dodzi1
  • @Emmastone12
  • @hdevsingh
  • @Lathi1830
  • @Lantasao
  • @PapaTrassh
  • @Queenj41
  • @RichardAK
  • @SahialAl
  • @smartzprime
  • @Tamukg
  • @vicchong1983
  • @yespacino

Special Thanks for helping us translate SafePal Docs into Japanese

  • @gox_crypt
  • @Ken_GANJIN
  • Viktor for helping us translate SafePal Docs into Russian

We have also received a lot of feedback from the community. Thanks for your support! We heard all of them!

Recent Updates & Progress

1. SafePal Earn

SafePal Earn is a feature that will be implemented within the SafePal App in the coming weeks. It is an aggregator of DeFi and CeFi that enables users to yield and earn from their crypto assets safely and easily. The SafePal Earn is a revolutionary feature because it provides a secure and simple way for users to engage with the best DeFi and CeFi APY programs on the market, and also embeds SFP as the key utility in the Earn system.

2. Blockchain Integration

As shared in our previous roadmap, blockchain integration has always been an important task for SafePal wallet. The dev team has prioritized Vechain (VET), Cardano (ADA), and Theta (THETA) in the recent timeline. More blockchains such as IOST, Zilliqa, Cosmos are also in our dev pipeline and we hope to gradually integrate them in the next stage.

3. Multi-language Support

Localization will be our Q1 and Q2 focus as we are looking to deliver a more user-friendly interface to users across the globe. There are four parts of the multi-language support:

SectionSupported LanguagesNew Languages To Add
The hardware wallet firmwareEnglish, French, German, Portuguese, Italian, Spanish, Japanese, Korean, Vietnamese, Simplified Chinese, Traditional ChineseRussian, Turkish
The SafePal AppEnglish, French, German, Portuguese, Italian, Spanish, Japanese, Korean, Vietnamese, Simplified Chinese, Traditional Chinese, RussianTurkish
The SafePal HomepageEnglishFrench, German, Portuguese, Italian, Spanish, Japanese, Korean, Vietnamese, Simplified Chinese, Traditional Chinese, Russian
The SafePal Knowledge BaseEnglishFrench, German, Portuguese, Italian, Spanish, Japanese, Korean, Vietnamese, Simplified Chinese, Traditional Chinese, Russian

If you speak the above languages and want to assist in the translation, welcome to send your profile and previous works to [email protected]!

4. SafePal S2

Embedded with the advanced SafePal security technology, SafePal S2 pushes the user experience to a new level. Compared to SafePal S1, SafePal S2 is built with a bigger battery and stronger features. Details will be disclosed soon.

For now, SafePal S2 is under mass production and firmware development. We hope to bring it to the community in early May. Stay tuned!

5. A More Robust Back-end System

The massive incoming traffic to SafePal in the last couple of weeks has brought new challenges to our product stability and customer service . We’d like to sincerely apologize for any stability issues and inconvenience caused. The team is now building a new customer service work flow and a stronger back-end system to support the growing community in the long run. In the meantime, an upgraded Knowledge Base and new product tutorial series will be introduced in the coming weeks. Appreciate your support and understandings.

6. Ecological Partnerships & Marketing Campaigns

Replies To The Most Concerned Questions

1. Why there isn’t any update in the last couple of weeks?

Starting from this week, we will share the weekly update of our latest progress in product development, ecological partnerships and community announcements.

For product development, a good feature or product takes time to develop, test, improve and test again. The team has been pushed to their limits in building a safer product and making it easier to use. This process usually takes longer than anyone expects especially since SafePal is a decentralized crypto asset self custodian solution. We place asset security ahead of all other priorities thus we rigorously test & stress test our product security. Please be patient and bear with us for our future updates.

2. When can I stake SFP?

For now, SFP can be staked through the PancakeSwap Farm. You can stake SFP-BNB LP to earn CAKE. The in-App SFP staking is under development but it will come later after the SafePal Earn is released.

3. The price of SFP is going down, why is that? Will SFP be listed on other exchanges?

Price fluctuation exists in all the secondary markets including stock markets and crypto markets. The price of a token is related to various macro and micro factors such as the market environment, Bitcoin price, and regulation policies. We can’t predict the trend of SFP price or provide any financial advice on crypto investment. Crypto investment is risky. Please be responsible for your investment and do in-depth research on your own portfolios.

As for the SFP listing on other exchanges, for now, we can’t disclose any updates since there are confidential terms involved. Please stay tuned and we will announce them once it’s finalized.

4. Why is my question not replied in the Telegram group?

If you are asking product usage questions, please reach out to [email protected] where provides official product support. The SafePal Telegram groups are for open discussion about SafePal, wallet, crypto storage, and more.

You might also find the answer to your questions from the pinned messages in the group chats, or our Knowledge Base, where most of the FAQs have been answered.

5. I sent an email to the support email but no one answers me.

Many apologies for the delayed reply due to the overwhelming inquiries that we have received recently. We are doing our best to reply to all the emails and also hiring more hands to help in the replies. If you didn’t receive an in-time reply to your support ticket, please try to send it again or send your ticket number to the Telegram group admin. The team will try our best to reply to you as soon as possible.

6. What is the status of my order? Why can’t my package be shipped? Why took so long?

A new batch of SafePal S1 hardware wallets has arrived at our warehouse and is now under packaging process. Customers are gradually receiving shipping notification emails as the packages are being sent. Since the number of new orders is still growing, customers who place the order after February 8th will have to wait for the second batch in mid-April. We will share the latest updates in the coming weekly reports.

Best,

The SafePal Team