Dear SafePal Community:
As a blockchain agnostic non-custodial wallet suite, cross-chain interoperability and accessibility has always been part of SafePal’s core values.
Being a decentralized BEP-20 utility token; SFP has been serving as the growth engine of the SafePal ecosystem — offering various benefits such as (but not limited to) the purchase of SafePal products at a discount, seamless conversion to gas across chains in the SafePal app, in addition to rewarding token holders and education programs.
With all these factors in mind; the SafePal team has made the important decision to migrate part of the supply of SFP tokens from BEP-20 to ERC-20.
With the Ethereum ecosystem being the largest by TVL(Total value locked) and one of the most established blockchains till date — The move comes strategically to provide greater accessibility and liquidity to the SFP token and its utilities, mutually benefiting both SFP token holders and SafePal.
The supply and tokenomics of SFP remains unchanged, with the amount and supply of BEP-20 tokens being burnt 1-1 for the amount of ERC-20 tokens being minted. A total of 200M $SFP tokens has been migrated from BEP-20 to ERC-20, and the transaction records are updated here for transparency:
Burn Transaction ID for BEP-20 tokens:
SFP Token Contract Address on ERC-20:
The $SFP whitepaper has been updated accordingly here to highlight that the token is now available on BEP-20 and ERC-20 so that token holders and members of the SafePal community are aware of the improvements — for further enquiries, please open a ticket to our team here.
SafePal is a comprehensive crypto wallet suite providing hardware wallet, mobile app, and browser extension wallet solutions. As a non-custodial wallet suite, SafePal aims to allow users to own their crypto adventure, by empowering them to access opportunities securely in the decentralized world.
The SafePal platform serves more than 10 million users across the globe and supports 15 languages, 100+ blockchains with their tokens and NFTs. It also encompasses crypto asset management solutions like cross-chain swapping, trading and yielding tools for users.
SFP is a decentralized BEP-20 and ERC-20 utility token and the growth engine of the SafePal ecosystem, and can be used to purchase SafePal products at a discount, converted seamlessly to gas across chains in the app, in addition to rewarding token holders and education programs.
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