SafePal, a non-custodial crypto wallet suite, has recently launched SFPlus, a new staking dapp and hub that allows users to stake the native SFP token to earn score privileges within the SafePal ecosystem. Users can access the dapp with the latest SafePal mobile wallet App V4.7.7 update, enabling them to stake the token, view utilities, and participate in airdrop reward pools with project partners. Staking in SFPlus does not have a lockup period, allowing users to stake or un-stake any amount of SFP at any time. Staked users will earn a time-based loyalty score bonus and automatically participate in subsequent reward pools.
Staking the SFP token in SFPlus not only provides users with a share of reward pools but also grants them real-world benefits, such as the ability to upgrade account tiers for the SafePal CeDeFi banking gateway. This gateway allows users access to crypto-friendly and compliant banking and payments through major platforms like Visa, PayPal, Apple, and Google Pay. SafePal has also partnered with The Open Network (TON) to launch a campaign focused on Soul-Bound tokens (SBTs) as part of efforts to build long-term utility and onboard users from the TON and Telegram ecosystem.
SFP is a decentralized BEP-20 and ERC-20 utility token that serves as the growth engine for the SafePal ecosystem. Users can utilize it to purchase SafePal products at a discount, convert it to gas across chains in the app, and for other purposes. At the time of writing, SFP is trading at $0.7367, down 1.1% in the day, 6.5% in a week, and 11.5% in a month. However, the token has appreciated over 51% in the past year, with an all-time high of $4.19 in February 2021. It is currently down 82% from its all-time high but up 173% from its all-time low recorded in June 2022.
To celebrate the launch of SFPlus, SafePal has introduced the first airdrop reward pool in partnership with Binance Labs-backed Web3 gaming project Cellula. This launch follows the Wallet Holder Offering held in June and aims to strengthen utility and highlight the maturity of SFP as the first IEO project on Binance Launchpad in 2018. SafePal’s CEO and co-founder, Veronica Wong, emphasized that tokens are a unique channel to bind the community and builders closer together, offering a means for Web3 users to interact with new promising projects in a safer and less risky manner.
Established in 2018 and backed by Animoca Brands, Binance, and Superscrypt, SafePal offers a suite of hardware wallets, mobile apps, and browser extension wallet solutions. The platform boasts over 15 million users across 200 regions and countries, supporting 15 languages and more than 100 blockchains with their tokens and NFTs. The launch of SFPlus and the partnership initiatives with projects like Cellula demonstrate SafePal’s commitment to enhancing utility, offering real-world benefits to token holders, and providing a secure platform for Web3 users to engage with new projects in a reliable manner.
