SafePal’s 5th Anniversary & CEO’s Letter

Dear SafePal community,

2022 has been a challenging year for the entire industry, with black swan events and bad actors damaging the general faith. Despite this, it has been encouraging to see Web3 builders continue to persevere and develop meaningful projects and utilities. The end of 2022 also marks a special moment for SafePal as we officially turn five this month.

The team at SafePal are humbled and thankful to all users, communities, and partners who have supported us since day one. We are excited to be celebrating our 5th year anniversary, and remain committed to serving our supporters and stakeholders in all aspects.

Recap of SafePal’s 5-year journey

Looking back, it still seems like yesterday when SafePal was started and secured strategic investment and backing from Binance in 2018.

After a period of extensive product development, testing and research, we went on to launch the S1 hardware wallet in 2019 — which has become our flagship and signature product over the years. We’ve continued to optimize user experience and cross-chain support for the hardware wallet users ever since.

In 2020 our mobile wallet was launched,  and more services such as cross-chain swapping and trading features were introduced to add value and reduce friction for users. We continue to remain on top of integrations, and prioritize user experience with support for 55 different blockchain networks.

To strengthen our community and bring further utility to our supporters, the $SFP token was launched in 2021 — This paved the way for meaningful ecological partnerships to reward and educate our community, serving as an avenue for launching successful WHO and Giftbox campaigns with established partners in the space from DeFi, NFT and other verticals. Our team continues to drive further utility for $SFP holders by allowing the tokens to be used for the purchase of SafePal products at a discount, converted seamlessly to gas across chains, in addition to rewards for yield and education programs.

In 2022, the SafePal extension wallet was launched, marking the transformation into a fully comprehensive crypto wallet suite and Web3 gateway. We also hit another important milestone, reaching a total of 7.5M users, and continue to explore ways to grow our and serve our user base better.

To build a safe and smooth wallet solution for the masses, in the past year alone we have:

  • Blacklisted and taken down over 1500 malicious DApps
  • Reported countless fake social media accounts, scam and phishing websites and links
  • Released over 30 version updates and integrated more than 100 brand-new features
  • Supported 19 new blockchains, notably TON, Flare Networks, and Aptos
  • Released over 70 written and video tutorials and guides 

We also rebranded last year, to better showcase and align our company image, values and principles — which is to ultimately empower users to own their crypto adventure and seek unlimited financial freedom and opportunities. To commemorate this special moment, we’d like to present the brand-new company video showcasing our mission, and vision of the limitless future empowered by SafePal.

Looking towards the future: Plans for 2023

The general economic outlook may still be recovering, but advancements in MPC technology and account abstraction continue to remove roadblocks for the development of better self custodial wallets, which are an essential gateway for adoption. We are also seeing new wallets popping up regularly with different value propositions, with some focusing on NFTs, or DeFi portfolio tracking as an example. 

Users may enter the Web3 space through different funnels such as speculative trading, NFTs, Social-Fi and gaming — making the building of a wallet that balances smooth and secure experiences for all these different scenarios a challenge. 

In the long term, transparency and security remain the most important factors for Web3 companies due to the malpractice of centralized entities, coupled with the scams and exploits that continue to plague the space.

In light of all these key trends and factors, SafePal will focus on the following aspects in 2023:

1.Building a safer wallet experience for the masses by

  • Continuing to report scams, phishing websites, and fraudulent social media accounts
  • Continuing to block malicious 3rd party DApps
  • Continuing to provide education for user security
  • Offering more secure and intuitive wallet options, even for more mainstream users
  • Continuing to facilitate and work towards the open-sourcing of our wallet solutions

2. Aggregating more asset management services to strengthen the value proposition of wallets as the ultimate Web3 aggregator and gateway by: 

  • Supporting more blockchains
  • Supporting more swap/trade/earn/fiat funnels
  • Adding deeper support for NFT UX scenarios

3. Reshaping and evolving the wallet experience to lower the barriers for onboarding users by:

  • Supporting more local languages not just in the products but also in the website, help center, and all user interfaces
  • Supporting more blockchains and Integrating new solutions, to facilitate easier private key custody and social recovery

Celebrating SafePal’s 5th year anniversary

On behalf of the entire SafePal team, I’d like to express our sincerest gratitude and appreciation to everyone who has supported SafePal through this exciting and meaningful journey. Safety will always remain our top priority.

Thank you for using our products, and providing genuine feedback to help us improve. Every positive comment on social media and our community channels is priceless, and motivates us to develop quality products and serve our users better. The patience and understanding shown as we refine our product functionality, compatibility, and user experience is also invaluable to us.

We’d also like to give special thanks to our partners, who have helped us to bring the best products and services to the SafePal community, and played a vital part in the success of the SafePal brand. We look forward to building even deeper and more meaningful partnerships in 2023 to make Web3 and crypto more safe and frictionless for users.

Thank you for reading this letter, and we look forward with great excitement to celebrating our anniversary with a line-up of contests, campaigns and sessions with our partners that will be soon unveiled and announced.

CEO and Co-Founder, SafePal
Veronica Wong

Recent Posts