SafePal Weekly Update (Week 4, May)

Dear Community,

As we enter the final day of May as well as the last weekly update for May. This month had been filled with many unfortunate incidents especially projects that suffered from flash loan attacks. Security within the crypto industry is now an ever more pressing concern, we at SafePal are more determined than ever to empower crypto users in a decentralized way to protect their crypto assets. Therefore we have had an extremely busy week building our foundation.

1. Production Increase

Last week, we finally received the shipment for all the pre-ordered SafePal S1 Hardware wallets ordered before May 13th, coming soon we will be shipping out these units to our pre-ordered customers. Please kindly await our delivery team in processing all the newly arrived units. This week we had several meetings with our supply chain partners & secured the development for the next batch of SafePal S1 Hardware Wallets. Our customers remain the lifeline of our business & we truly thank you continued support. The manufacturing industry has been hit quite hard by the lack of microchips, through the continued effort of our sourcing team we managed to secure many of the crucial parts needed to continue production. We look forward to delivering the SafePal S1 hardware wallets to ALL our pre-ordered customers in the months ahead.

2. SECURITY, SECURITY, SECURITY

Not only has the number of crypto flash loan attacks increased, but more and more users have also suffered from these attacks which is why we at SafePal before the release of any of our products & services go through rigorous testing. Audits on both hardware wallet, software wallet app & the upcoming features such as EARN are all rigorously tested before release. Protecting our users & their assets remains our MAIN priority. We do not need to be 1st to market however we DO NEED to be one of the safest in the market.

Beware of scams, as many of our users have report Telegram, Twitter & other social channel scams.

The legitimate SafePal channels are:

SafePal admins and moderators will NOT ask for your mnemonic phrase, password or your cryptos. Please do NOT give your mnemonic phrase to anyone. Not your keys, not your coins.

3. Customer Support Changes

As mentioned last week we have been busy overhauling our support system & developing our back-end infrastructure. As the 1st tokenized hardware wallet, we are in an extremely cutting edge space of crypto however this also places us in a position, unlike ANY other crypto project before us. In the crypto industry, many forget about the challenges of a real-world business.

1. We have a physical product to tend to such as the production of a physical asset, logistics management of a REAL world asset, financial payment across 150+ countries, delivery of a REAL world asset, GLOBAL government customs adherence.

2. We have REAL customer inquiries to resolve unlike many other crypto projects which DO NOT ever have to engage with the users of their blockchain.

Therefore it is extremely important for us & our customers that they receive the best that we can offer. Our focus on the SafePal ecosystem will always be on our customers which is why we overhauled our support system for the better. This new change will allow us to position ourselves in a far more advantageous position to assist the millions of users that use & will use SafePal products & services.

As mentioned last week,

For us to provide better and faster customer support to the users, from next Wednesday, the SafePal customer support will be migrated to the www.safepal.io website. The original support@safepal.io mailbox will be disabled. For better and faster SafePal customer support, please submit your request from www.safepal.io.

When you submit a request from the www.safepal.io website, you will be able to easily create a ticket by filling a ticket form. You can submit all the necessary details that can help us to better understand your case through a few clicks. Detailed instructions will be released next week. Stay tuned!

SafePal admins and moderators will NOT ask for your mnemonic phrase, password or your cryptos. Please do NOT give your mnemonic phrase to anyone. Not your keys, not your coins.

4. Binance Flexible Savings

Thank you to the Binance team for the pleasant surprise in adding SafePal’s $SFP token onto the Binance Flexible Savings.


More Details Here.

We will continue to build & innovate within the industry to help more & more users have true ownership of their crypto assets. We thank everyone for being with us on our journey, Crypto is only just getting started.


Wish you enjoy this week’s update. See you next week!

Best,

SafePal Team