SafePal
Crypto Overview
Overview
SafePal (SFP) is the native token of the SafePal ecosystem, which includes hardware wallets, software wallets, and a crypto management platform. The token was launched in 2021 and serves as a utility and governance token within the SafePal ecosystem.
Purpose and Utility
The primary purpose of SFP is to provide utility within the SafePal ecosystem. Token holders can participate in governance decisions, receive discounts on SafePal hardware products, and access premium features. The token is also used for staking rewards and ecosystem development.
Business Model and Operations
SafePal operates primarily as a hardware and software wallet provider, offering secure storage solutions for cryptocurrencies. The business model is based on legitimate product sales and services, with the SFP token integrated into the ecosystem's functionality.
Real-World Adoption
SafePal has demonstrated significant real-world adoption with over 7 million users globally. The platform supports over 15 blockchains and 40,000 tokens. Their hardware wallets have seen consistent sales, and their mobile wallet maintains active usage.
Development Activity
The project maintains active development, with regular updates to both hardware and software products. The team consistently releases new features and security improvements, demonstrating ongoing commitment to the platform's development.
Token Distribution
The token distribution includes allocations for ecosystem development, team members, and public sale participants. While specific vesting schedules are in place, the distribution appears reasonably balanced and designed for long-term ecosystem sustainability.
Crypto Impact
To assign a comfort level investing in SafePal from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to SafePal.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.