Founded in 2018, SafePal is a cryptocurrency wallet that aims to provide a secure and user-friendly crypto management platform for the masses. Being the first hardware wallet portfolio of Binance, SafePal now serves more than three million users worldwide. SafePal provides hardware and software wallet product lines, all paired and managed through the SafePal App, where users can easily store, manage, swap, trade and grow their crypto wealth. SafePal not only supports 15 languages, 23 blockchains, 10,000+ tokens, and NFT standards but is also integrated with Binance DEX, Binance Spot Trading and all DApps on the Ethererum, BSC, Tron and Polygon networks.
SafePal Earn is a revolutionary DeFi feature that fully utilizes the entirety of the SafePal ecosystem by allowing holders of cryptocurrency assets to earn and generate greater yield than ever before in the most secure manner. With the current global crypto market cap at over $2.5 trillion as of October 16, 2021, and the DeFi market reportedly at over $80 billion, demand for a secure, convenient and simple feature that allows crypto holders to stake their existing crypto assets to capture greater yield opportunities from across different chains is on the rise. By using the SafePal Wallet App, cryptocurrency holders can enter the SafePal Earn feature to swap cryptocurrencies from one network to another and stake them through a simple user interface rather than navigate uncharted waters with limited knowledge. Ultimately, the SafePal Earn feature aims to simplify and secure the onboarding of users into the world of DeFi through staking stable coins or crypto to earn a greater yield.
Convenience & Simplicity
Powered by the SafePal ecosystem, the SafePal Earn feature allows users to access a variety of DeFi pools and begin their DeFi journey in the most simplistic of ways. Single- and multi-access pools, including stable coin pools, are all available within the SafePal Earn feature. If users lack the necessary cryptocurrency assets needed to create the LP (Liquidity Provider) tokens, they can simply swap and construct the necessary LP (Liquidity Provider) tokens directly within the Earn feature using the SafePal Wallet App without having to explore the uncharted waters of DeFi protocols and dex-aggregators to track down the necessary crypto assets. Rather, they can use the feeless SafePal native swap service to obtain the necessary LP (Liquidity Provider) tokens to begin their DeFi yielding experience in the most secure and convenient way possible. The SafePal Earn feature is simple and convenient not only for crypto beginners but for veteran DeFi yield farmers as well.
Maximize DeFi Earning
Experienced DeFi farmers are keen to track all their investment pools through simple yet secure one-stop interfaces. Another heavily sought-after feature for DeFi farmers is the ability to cross-chain swap crypto assets, such as stable coins, from one chain to another and take advantage of newly-created liquidity pools and maximize their farming yield. Thus, the convenience of such a solution offered within the SafePal Earn feature will help to facilitate and increase the adoption of DeFi in the years to come. Additional areas of appreciation would be the auto-compounding mechanism designed into our smart contracts to allow DeFi farmers to incur no fees aside from the initial deposit when compounding their assets over a long period of time as SafePal Earn will automatically compound user assets free of charge.
The security of cryptocurrency assets is an integral part of our development process to not only comply with regulations but also to assess the potential risks in the emerging sectors of the blockchain industry. Since the inception of the DeFi industry, it has been plagued with bad actors, poorly audited smart contracts and large-scale hacks. Therefore, we at SafePal focus heavily on ensuring crypto asset security by creating a safe place to yield and earn with your cryptocurrency assets.
The SafePal Earn feature has been tested rigorously and its smart contracts fully audited by Certik. By creating a native integration of the SafePal Earn feature, users will continue to gain access to DeFi through the integrated process of SafePal Earn inside the SafePal Wallet App even in the event of a forced closure of the SafePal DApp store.
Future cross-chain capability
As the DeFi markets continue to grow into a trillion-dollar industry, the rise of new opportunities in new blockchains will provide a greater yield for the SafePal community. We aim to fully capture this and provide access to brand-new yielding opportunities for our community by integrating secure pools into the SafePal Earn feature. Future-proofing technology in a hyper-fast environment, such as the blockchain industry, will provide our community with access to the latest and most innovative opportunities in the world of DeFi.