SafePal
Crypto Overview
Project Overview
SafePal is a cryptocurrency wallet ecosystem that includes hardware wallets, software wallets, and its native SFP token. Created in 2018 and backed by Binance Labs, SafePal aims to provide secure crypto asset management solutions.
Intended Utility
The SFP token serves multiple purposes within the SafePal ecosystem: governance rights for token holders, discounts on SafePal hardware products, and access to premium features. Token holders can participate in platform decisions and receive benefits within the SafePal ecosystem.
Actual Utility Assessment
The token demonstrates genuine utility through active governance participation and real usage for hardware wallet discounts. On-chain data shows consistent transaction volume related to actual ecosystem utility rather than pure speculation. The project maintains regular development updates and feature implementations.
Token Distribution Analysis
Initial token distribution allocated 20% to team and advisors with a 2-year vesting period, 15% for ecosystem development, 5% for marketing, and 60% for public sale and community rewards. The vesting schedule appears reasonable and designed to prevent sudden dumps.
Development vs Marketing
SafePal demonstrates a balanced approach between development and marketing. The team regularly releases updates to both hardware and software products, showing commitment to product development rather than pure token promotion.
Revenue Model
The primary revenue streams come from hardware wallet sales and premium feature subscriptions, which are halal business activities. The project does not involve interest-bearing mechanisms or prohibited activities.
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.