SafePal Receives Terra Network Grant

It’s with extreme delight announcing to the community that SafePal has received a grant from Terra foundation related to the recent integration of Terra ecosystem assets and DApps.

What is Terra?
Terra is an application-specific blockchain built on the Cosmos SDK and Tendermint consensus. The Terra protocol deploys a suite of algorithmic, fiat-pegged stablecoins underpinning a thriving DeFi ecosystem like Anchor Protocol. LUNA, the native staking and governance asset of Terra, absorbs the short-term volatility of Terra’s stablecoins, with Terra’s stablecoin (e.g., UST) demand a function of demand for Terra’s DeFi ecosystem — accruing value to LUNA via seigniorage.

“Programmable Money For The Internet
Spend, Save, and Stake Like Never Before
Terra is a public blockchain protocol deploying a suite of algorithmic decentralized stablecoins which underpin a thriving ecosystem that brings DeFi to the masses.”
Yash Terra Ecosystem Dev Associate

To learn more about Terra, please visit here.

What is SafePal?
SafePal is dedicated to providing a secure and user-friendly crypto management platform for the masses to secure and grow their crypto assets safely and conveniently. It is the first hardware wallet invested and backed by Binance. SafePal is now serving more than 4,000,000+ users from more than 196 countries through its unique hardware wallet and software wallet product lines, all paired and managed through the SafePal App, where users can easily secure, manage, swap, trade, and grow their crypto wealth without compromising asset security.

As of SafePal wallet version 3.1.0, we have added support for Terra Network assets and DApps. In light of recent commitment towards the Terra Ecosystem, the Terra Foundation has provided the SafePal team with a grant to further the collaboration. SafePal will continue to develop and build deeper synergy within the Terra Network, offering support for the protocol assets, DApps, and providing strategic features such as Wallet Holder Offering, Earn, and Giftbox to support projects within the Terra ecosystem.

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

  • UST & LUNA integration. SafePal has integrated Terra-based assets as well as dApps and in the future NFTs.  
  • Fiat gateway. SafePal is working towards assisting the Terra network with fiat gateway providers such as Simplex, and BTC Direct.
  • SafePal Swap. SafePal supports $LUNA and $UST via the SafePal Swap allowing users to seamlessly swap crypto assets onto the Terra network. (More on SafePal Support.) 
  • DApp promotion. SafePal and Terra will work together to support and promote Terra project dApps so that they attract as many users as possible.
  • Liquidity mining. SafePal will explore the possibility of supporting liquidity mining of Terra DeFi projects via SafePal Earn. 

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

“Seeing the tremendous demand from our community for Terra integration, our development team had been working diligently on providing access for Terra-related assets & DApps. We are extremely excited to continue developing and providing support for the Terra Ecosystem.” Veronica CEO of SafePal

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