SafePal is a comprehensive cryptocurrency wallet established in 2018 with a mission to empower users to have full control over their digital assets.
What are the standout features of the SafePal wallet compared to other cryptocurrency wallets? Explore the tokenomics of the SFP token with AZCoin!
What is Safepal?
Safepal aims to build an ecosystem around its wallet product, enhancing the user experience of storing cryptocurrencies in a hardware wallet.
Safepal is built on four fundamental pillars:
- Safepal Wallet: The project will provide users with a non-custodial wallet solution featuring security, support for a wide range of coins, and user-friendliness.
- Safepal Wealth: This is a robust platform that assists users in managing their cryptocurrency assets. Users can buy, trade, and swap, and utilize various Dapps.
- SFP Token: The SFP token is the core incentive for the development of Safepal’s products and services. It serves as a means for the community to participate in project governance.
- Ecosystem: This includes partners, developers, and a community that collectively contribute to the ecosystem surrounding Safepal.
SafePal is currently catering to over 2 million users from more than 146 countries through its unique line of hardware and software wallets, all connected and managed through an application.
SafePal Highlights
SafePal supports over 20 blockchains, such as Binance Chain and Binance Smart Chain (BSC), as well as over 10,000 tokens, including Non-Fungible Tokens (NFTs). SafePal is also the first hardware wallet to be incubated by Binance Labs.
The following are some of the strengths of SafePal:
- High security: SafePal’s hardware wallets are built with advanced security features including an EAL5+ secure element, air-gapped signing mechanism, self-destruct mechanism, and multi-layer security protection.
- Good user experience: SafePal is 100% mobile-friendly.
- Offer a wide range of digital asset functions: Such as cross-chain swap, Binance Spot Trading DApp, and fiat on-ramp integration.
- Strong community support: SafePal is used globally by users in over 100 countries.
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Safepal Products
SafePal S1 Hardware Wallet
- Incorporates multiple security technologies: EAL5+ chip, TRNG, self-destruct mechanism.
- Manages through Safepal app which is mobile-friendly.
- Supports 20 coins, over 10,000 tokens, and all NFT standards.
- Sells for $39.99.
SafePal Cypher Metallic Seed Board
- Constructed from 304 stainless steel.
- Water, oxidation, and fire resistant.
- Sells for $39.99.
SafePal Leather Cover
- Made from premium leather.
- Shields hardware wallet from impact and water damage.
- Sells for $9.99.
Safepal Software Wallet
- Safepal’s cold wallet management app with three key features: decentralization, security, and ease of use.
Safepal App
- User-friendly cryptocurrency management app that enables trading, swapping, and connecting to Dapps.
- Safepal App offers three main functions:
- Safepal Swap: an automated market-making protocol that allows users to swap coins/tokens across different blockchains.
- Safepal Trade: directly integrates the Binance Trading Platform.
- Safepal Earn: an aggregator of earnings that permits staking cryptocurrency assets for profit.
What is SFP token?
SFP token is a utility token that fuels the Safepal ecosystem.
What can I use SFP for?
Fees & discounts
Users can use SFP to get a discount when purchasing Safepal Wallet products or using Safepal Swap.
Bonus program
Users can use SFP to receive coupons or earn additional rewards from Safepal Earn Programs.
Rewards & Incentives
SFP token holders will be prioritized to receive incentives such as airdrops from ecosystem partners, staking rewards, or limited Safepal NFTs.
Community Governance
SFP token holders have the right to create proposals or vote for new features. A minimum of 500,000 SFP tokens are required to submit a proposal.
Basic Information About SFP
Token Information
- Ticker: SFP
- Contract Address: To be updated
- Decimals: To be updated
- Blockchain: Binance Smart Chain
- Token Standard: BEP-20
- Token Type: Utility Token
- Total Supply: 500,000,000 SFP
- Circulating Supply: To be updated
Token Allocation
- 20% allocated for project operations and business development.
- 20% allocated to the project development team.
- 15% allocated for community and airdrop distribution.
- 15% allocated for product marketing activities.
- 15% sold to strategic investors.
- 10% sold through a public sale.
- 5% allocated for partnerships and ecosystem development activities.
How is the future of the Safepal project?
In the future, Safepal will develop many new features, with the SFP token being the core of the Safepal ecosystem. You can follow the image above to find out which features will be released in the near future.
Safepal Earn is an important feature that will be released in Q1-2021.
SafePal Earn is a DeFi and CeFi yield aggregator that allows users to earn additional income by holding their crypto assets.
Users will be able to choose from different asset management programs with varying APYs.
When SafePal Earn launches, SFP token holders will receive additional income from their chosen programs.
Summary
This article likely gives you some idea of what Safepal’s complete ecosystem will look like once it is fully built. For now, what we need to do is monitor the project’s further development and observe the level of user adoption. This will allow you to make informed investment decisions for yourself.
AZCoin will not be held liable for any investment decisions you make, detail on indemnity page. We wish you success and hope you profit from this promising market.
I am Tony Vu, living in California, USA. I am currently the co-founder of AZCoin company, with many years of experience in the cryptocurrency market, I hope to bring you useful information and knowledge about virtual currency investment.
Email: [email protected]
