Nervos Foundation Grant for SafePal

We are delighted to receive a grant from the Nervos foundation. The Nervos ‘Common Knowledge Base’ (CKB) is a permissionless, layer 1, open-source, proof-of-work blockchain protocol focused on creating the foundations for an interoperable universal public network. 

It allows any crypto asset to be kept in a secure, immutable, and permissionless environment with the added benefit of smart contracts and layer 2 scaling. Nervos is developing this robust network through three key components: PW Core which enables developers to build applications on all chains; Godwoken– an Ethereum-compatible layer that allows developers to port a smart contract from Ethereum to Nervos; and Force Bridge, a trustless bridge that enables cross-chain transactions between Nervos and a spectrum of blockchains. 

SafePal is a cryptocurrency wallet founded in 2018 that aims to provide a secure and user-friendly crypto management platform for the masses. Being the first hardware wallet portfolio of Binance, SafePal is now serving more than 4 million users across the globe. SafePal provides hardware wallet 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 has not only supported 15 languages, 30 blockchains, 10,000+ tokens, and NFTs, but also integrated with BinanceTrading DApp, and all DApps on Ethereum, BSC, Tron, Solana networks, and more.

With the arrival of SafePal version 3.0.0 support for Nervos has been added to the SafePal wallet ecosystem. SafePal community can now store their $CKB assets both on layer 1 and layer 2 directly within the SafePal wallet. Continued support for Nervos network through the previous WHO campaign with Yokaiswap and Giftbox events will further both parties’ support. In light of recent commitment and support for Nervos, the Nervos foundation has provided the SafePal team with a grant.

This marks only the beginning as SafePal has already provided some of the following:

  • sUDT integration. SafePal has integrated Nervos and Godwoken networks, as well as dApps and NFTs, deployed on Godwoken, so that tokens and applications can move freely and be used across both ecosystems, respectively. 
  • Godwoken bridge: SafePal has integrated the bridge between Nervos and Godwoken, enabling frictionless migration of assets between the two networks. 
  • Fiat gateway. SafePal is supporting a fiat/$CKB gateway via Simplex, an EU-licensed financial institution that processes crypto-to-credit card payments, which will help streamline transactions.
  • SafePal Swap. SafePal supports $CKB Swap. (More on SafePal Support.) 
  • DApp promotion. SafePal and Nervos will work together to support and promote Nervos dApps so that they attract as many users as possible.
  • Liquidity mining. SafePal will support liquidity mining of Nervos DeFi projects to support the ecosystem’s Total Value Locked (TVL). 

SafePal and YokaiSwap

As part of its integration with our ecosystem, SafePal helped support the recent launch of YokaiSwap. In November, the wallet chose the DEX as its first-ever layer 2 partner for Wallet Holder Offering (WHO), an innovative airdrop mechanism designed to reward SafePal software and hardware wallet users by providing access to the airdrop tokens from SafePal ecological partners in a secure, decentralized, and user-friendly way. Despite a bearish market, the event was a success, as tens of thousands of users participated and received $YOK, the platform token of YokaiSwap. 

SafePal’s support helped make YokaiSwap IDO and mainnet launch a huge success. Here are some of the highlights: 

  • $6.28+ million in $CKB was moved onto layer 2 (Godwoken) and held for 4 days inside the SafePal Wallet.
  • Over $62,858,000+ USDT were committed during the IDO.
  • The $YOK token price increased by 30x for three days after the IDO.

Looking forward to providing more exciting updates and Nervos collaborations in the future.

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