What is SafePal?
The SafePal token or SFP is a utility token powering the SafePal ecosystem.
SFP has more than one use case, however, its key feature is exclusive access to discounts within the SafePal ecosystem. In addition to discounts, SFP holders receive unique rewards such as partner airdrops or a boost to staking rewards.
Furthermore, SFP serves as a governance token. This means that SFP holders can vote on proposals regarding the future of the project and even submit their own. A single SFP token equals one vote.
It’s a BEP-20 token deployed on the BNB Smart Chain.
Anyone can acquire SFP via major supported exchanges. You can find our list of recommended exchanges in the section above.
There is a max cap of 500,000,000 SFP tokens which makes the supply deflationary. This could mean that as the SafePal tokens become more scarce, the SFP price will increase.
SFP has been allocated as follows:
- 20% - Foundation Reserve;
- 20% - Core Team;
- 15% - Product and Marketing;
- 15% - Community and Airdrop;
- 10% - Public Sale;
- 9% - Strategic Sale;
- 5% - Ecosystem;
- 4% - Private Sale;
- 2% - Seed Sale.
SFP was launched in early 2021 which is around 3 years after the launch of the SafePal project itself.
As with most cryptocurrencies, the SFP price tends to fluctuate. In order to keep up with these price changes, check out the graph above.
What are the Main Features of SafePal?
SafePal is a cryptocurrency management ecosystem.
One of the primary goals of the project is to ease the way into the world of crypto, and, as a consequence, accelerate the mass adoption of cryptocurrencies. It aims to achieve this goal by providing inexpensive crypto wallets for digital assets.
Its core product is SafePal S1 which was, coincidentally, the first product offered by SafePal. SafePal S1 is a hardware crypto wallet - a type of cold storage for your digital assets. To put it simply, it’s an entirely offline method of storing assets.
SafePal S1 supports more than 45 blockchains, over 15,000 cryptocurrencies, and every single NFT standard out there. It comes with a variety of integrated mechanisms to ensure maximum security such as a self-destructing system and an EAL 5+ chip. It’s a sleek-looking device that will fit right into your pocket.
Users can purchase accessories unique to this wallet such as a leather cover or Cypher - a metallic seed board that’s both waterproof and fire resistant.
Both software and hardware wallets are linked with the SafePal App - a cryptocurrency management system. It comes with SafePal GiftBox - an educational system that rewards users for learning.
SafePal also offers a software wallet in the form of a web extension called the SafePal Extension Wallet. It’s available on Google Chrome, Firefox, and Microsoft Edge.
Another important feature of the SafePal ecosystem includes SafePal WHO (Wallet Holder Offering) - an airdrop mechanism that allows SFP holders to access airdrops from ecological partners of SafePal.
As discussed in the What is SafePal section, the native token, SFP, is deployed on the BNB Smart Chain which has also invested in the SafePal project. Interestingly, SafePal S1 was the first hardware wallet that was backed by Binance.
Who Developed SafePal?
The SafePal crypto project was launched in early 2018. It’s a blockchain company headquartered in Singapore. The founding team behind SafePal consists of professionals with years of experience in the crypto industry. While its main office is based in Singapore, SafePal has employees working from all over the world.
SafePal has signed partnership agreements with major players in the crypto space such as PancakeSwap, ApolloX, Uniswap, Compound, and Avalanche, among many others.
If you're interested in buying this token, make sure to monitor the SafePal price before making any purchase decisions. The graph provided above will let you have a better look at the SFP price trends which, in turn, will help you stay informed.