SafePal

• SafePal (SFP) is a utility token on the Binance Smart Chain.

• SFP holders receive incentives such as token airdrops, staking rewards, and limited SafePal NFTs.

• Users can exchange gas fee tokens using the ‘Gas Station’ DApp within the SafePal wallet.

• Total supply: 500,000,000 SFP tokens.

• Tokenomics remains unchanged, with BEP-20 tokens being burned 1-1 for ERC-20 tokens being migrated.

As of today 27 July 2024, the price of SafePal is ₹72.79 INR, with a 24-hour trading volume of 3842263.99 USD. The market capitalization for SafePal is 362714639.66USD. The circulating supply is 462500000 SafePal, with the total supply also being 500000000 SafePal.

• Backed by Binance: SafePal is the first hardware wallet investment of Binance Labs.

• Comprehensive Crypto Management: Offers hardware wallets, software wallets, and browser extensions.

• Supports Multiple Languages and Blockchains: SafePal supports 15 languages and 54 blockchains.

• Cross-Chain Swaps and Spot Trading: Users can trade directly within the SafePal app.

• User-Friendly Interface: The SafePal wallet features a clear and intuitive interface.

• Affordable Hardware Wallet: The SafePal S1 wallet is considered one of the market's most affordable crypto hardware wallets.

• Security Features: SafePal wallets incorporate secure element chips and use a hierarchical deterministic (HD) wallet structure to enhance security.

• Mobile App Integration: The SafePal mobile app integrates with the hardware wallet, allowing for convenient digital asset management.

• Security Concerns: Some users have raised concerns about the security of the SafePal hardware wallet.

• Limited Integration: The SafePal S1 hardware wallet only integrates with the SafePal software wallet, which may limit its functionality compared to other wallets.

• Complexity for Beginners: Transferring cryptocurrencies can be complex for some users, making it less beginner-friendly.

• Battery Lifespan: The hardware wallet's battery has a limited lifespan, which could be a drawback for long-term use

• SFP could be beneficial due to its utility within the SafePal ecosystem, including rewards for staking, voting for treasury fund usage, and adding new features to the platform.

• SafePal is Binance's first hardware wallet investment and offers secure crypto management solutions.

• The unique selling proposition of SFP is its integration within the SafePal ecosystem, providing users with incentives and privileges such as token airdrops, higher APY, and the ability to participate in decision-making processes.

• SFP is solving the problem of user engagement and incentivization within the SafePal ecosystem. It rewards and incentivizes users, encouraging active participation and investment in the platform.

• SafePal was founded in 2018 by Veronica Wong, a tech industry veteran, and two co-founders who shared her vision of creating secure, user-friendly crypto management solutions.

• Before starting SafePal, Veronica Wong worked for the Chinese computing giant Tencent.

• Initial Exchange Offering (IEO): SafePal held its IEO from February 2, 2021, to February 8, 2021, with a token sale price of $0.100. The IEO raised $5 million.

• Seed Round: The seed funding round raised $164,600 with a token price of $0.0165.

• Private Rounds: There were two private funding rounds. The first private round raised $500,000 at a token price of $0.0111, and the second private round raised $1.6 million at a token price of $0.08.

• Like any other cryptocurrency, investing in SFP carries risks such as market volatility, regulatory changes, and potential security vulnerabilities.

Whitepaper Insights

The SafePal whitepaper outlines the mission, vision, and technical details of the SafePal platform and the SFP token. SafePal is a comprehensive crypto wallet platform that provides unique and diversified asset management solutions for investors.

The platform aims to empower investors towards financial opportunity and freedom in the decentralized world. The SFP token is a crucial part of this ecosystem, providing various benefits and incentives to its holders. These include staking rewards, access to airdrops, special coupons and privileges, and unlocking exclusive SafePal product features. The whitepaper also emphasizes that the technical details and parameters may be frequently updated and changed, and the SafePal team has no obligation to keep holders of SFP informed of these changes.