SafePal Wallet and the launch of SafePal Token (SFP)
SafePal is a crypto wallet that provides secure crypto management across 20 blockchains, including Binance Chain and Binance Smart Chain, with over 10,000 available tokens and even NFT assets. The project was founded in 2018 and currently providing both hardware wallets and software wallets, all paired and managed through the SafePal App.
SafePal is the first hardware wallet portfolio of Binance Labs. It has advanced security features including EAL5+ secure element, air-gapped signing mechanism, self-destroy mechanism, and multiple layers of security. The cross-chain swap, Binance Spot Trading DApp, fiat on-ramp integration are few of the tools integrated to prodvide the best wallet for buying, swapping and trading crypto assets.
The SafePal Token (SFP) came as a method to boost the number of users, reward the existing ones, and amplify the SafePal importance in the crypto ecosystem. As a way to promote it and share it, SafePal had two rounds of airdrops. The first round was supposed to last all January but the success was not anticipated, and all SFP allocated were claimed in less than a day! It took 8 hours for all the tokens to be claimed!
I was able to to claim 165 SafePal Tokens by linking and sharing the airdrop on social media, transferring Binance Coin (BNB) and Ethereum (ETH) and referring two friends. I sent some Bitcoin (BTC) as well but due to gas fees and a overcrowded network, it arrived after the allocated tokens were claimed.
The second round of SFP airdrop was announced on the 12th of January, and new tasks were added every day, and a shares reward system was added. SFP tokens could be claimed for trading and holding Binance Coin (BNB), CAKE, Trust Wallet Token, ONE, AAVE, Venus (XVS), AVA, 1INCH, Injective Protocol ARPA, DigiByte, Bella (BEL), Bitcoin, Ethereum and Litecoin. I added more Safe Pal Tokens (SFP) in my stash, and on listing day I was distributed 233.135 tokens.
Binance added SafePal on the Launchpad, and the Binance Coin (BNB) average balance was calculated. Users committed BNB and received a share of the 50,000,000 offered tokens. The hard cap was 200,000 SFP tokens per user at a sale price of 1 SFP per 0.001449 BNB.
During the Subscription Period my average BNB holding was 50.58 and this was the amount I could commit. I was far from the hard cap and I was hoping to get a nice amount of Safe Pal Tokens (SFP).
A total of 11,262,241 BNB were committed by 47286 participants and my share was 4.69 SFP. I was expecting more than that but at least I've got them for free, as it looks like no BNB was deducted.
Upon listing the price went to $1 and continued to rise. With the 233.13 airdropped tokens and the 4.69 from Binance Launchpad, my total holding is 237.825 Safe Pal Tokens (SFP). If you know me... you know I will HODL.
The Safe Pall wallet and the Safe Pal Token (SFP) are under-rated and compared to other Wallets/Platforms native tokens, I can see lot of space for growth. I will not use Binance Coin (BNB) as an example, because this is huge, but I will point at CEL. The Celsius Network native token is $6 now, and still shows signs of growth. Not moving back to SafePal, which has many advantages compared to Celsius, think about where this token will stop!
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