Users will be able to stake the decentralized utility token to enjoy exclusive privileges.
August. 21st, 2024 — SafePal, a non-custodial crypto wallet suite with over 15 million users, today announced the launch of SFPlus, a new staking Dapp and hub that will allow users to stake the decentralized utility token ($SFP) to earn a score and enjoy exclusive privileges within the SafePal ecosystem.
“Despite uncertain market conditions, building timeless and practical utility across our wallet solutions and offerings have always been our core focus over the past 6 years,” said Veronica Wong, CEO and co-founder of SafePal, “Tokens are a unique channel to bind the community and builders closer than traditional Web2 product-consumer relationships, and we are excited to take the next step in bringing genuine SFP holders and the SafePal ecosystem closer together.”
With the latest SafePal mobile wallet App V4.7.7 update — users can conveniently access SFPlus to conveniently stake $SFP, view all existing utilities, and enjoy a share of airdrop reward pools with project partners among other exclusive benefits.
Staking in SFPlus will not have a lockup period and users can stake or un-stake desired amounts of $SFP at any time, but users who remain staked will earn a time-based loyalty score bonus and automatically participate in subsequent reward pools.
To commemorate the launch of the SFPlus staking hub — the first airdrop reward pool has also been launched with Binance Labs backed Web3 Gaming project Cellula, as part of deeper partnership efforts following the successful Wallet Holder Offering held earlier in June this year.
“While there is still a lot of attention on new tokens, issues remain with tokenomics and realistic valuations for many projects launched this year,” Veronica also said, “The launch of SFPlus is not just designed to strengthen utility and highlight the maturity of $SFP as the first IEO project on Binance launchpad in 2018, but to also provide a means for Web3 users to interact with new promising projects in a safer, reliable and less risky manner.”
Aside from enjoying a share of token reward pools, staking SFP to accumulate a score will also grant real-world benefits to participants — such as the ability to upgrade account tiers for the SafePal CeDeFi banking gateway launched earlier in March this year, which grants users access to compliant, crypto-friendly banking and payments via Visa, PayPal, Apple and Google Pay among other established platforms.
The wallet suite also partnered with TON (The Open Network) earlier this month to launch a campaign focused on Soul-Bound tokens (SBTs), as part of further efforts to build long term utility and onboard users from the TON and Telegram ecosystem across SafePal’s hardware, mobile and browser extension wallet solutions.
About SafePal
Founded in 2018, SafePal is a comprehensive crypto wallet suite backed by industry leaders such as Animoca Brands, Binance and Superscrypt. SafePal empowers users to own their crypto adventure by accessing opportunities securely in the decentralized world via its hardware wallet, mobile app, and browser extension wallet solutions.
The SafePal platform serves over 15 million users globally across 200+ regions and countries, supporting 15 languages, 100+ blockchains with their tokens and NFTs. It also encompasses crypto asset management solutions like cross-chain swapping, trading and yielding tools, and even a CeDeFi banking gateway and Visa card for users.
SFP is a decentralized BEP-20 and ERC-20 utility token serving as the growth engine of the SafePal ecosystem, and can be used to purchase SafePal products at a discount, converted seamlessly to gas across chains in the app, in addition to rewarding token holders and education programs.
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