Update 2022/12/03

The result of the campaign has been announced in this blog post and qualified participants will receive the SFP rewards soon.

Update 2022/11/30:

The campaign ended at 00:00AM UTC on November 30. The results of the sharing will be calculated and announced on December 3. The $SFP reward distribution will be completed by December 6.

The recent FTX crisis has taught the crypto industry a hard lesson on why decentralization and transparency matter. While the crypto communities are experiencing this dark moment and witnessing the industrial setback together, we at SafePal, as a continuous builder, want to bring light and confidence back in.

As a crypto wallet brand started in 2018, SafePal has been dedicated to building a secure and accessible web3 entrance to empower crypto investors toward financial opportunity and freedom in the decentralized world. Today, more than 7 million users across the continents are using SafePal wallet to secure, manage and grow their funds. In this darkest moment of the industry, we feel obliged to introduce an opportunity to allow new crypto users to enter the world of decentralization and get a taste of what ‘Own Your Money’ truly feels like.

Introducing SFP Airdrop, an activity where new crypto users get to experience the complete walk-through of securing and managing crypto assets in a decentralized manner, including but not limited to setting up a decentralized wallet, initiating the first on-chain transfer, and completing the first DEX order. If you are brave enough to take the first step in, SFP token rewards will be awarded to the bravest members!

For all the old SafePal users, we also welcome you to join together and spread the voice of decentralization. Because in this way, you are proving to all your friends how correct you are in using a decentralized product like SafePal. Crypto needs education, and it’s time that we do it together.

Ok, I’m ready. Where shall I start?

The activity will last for 2 weeks from now on until November 30, when all SafePal NEW users can join the SafePal App and complete different tasks, as specified below. The more tasks you complete, the more shares of the rewards you will get from the reward pool. There are 1,000,000 $SFP in the reward pool.

Among all the tasks, there is one mandatory task that all users need to complete and hold till the end of the campaign: the ‘Store & Hold’ task. All SafePal New users need to store and hold at least $100 worth of stablecoins in their wallet until the campaign ends, or else the whole qualification for the campaign will be void. Please make sure you read the instructions carefully before you start.

Here are the detailed steps:

Step 1 Prepare your SafePal wallet

To participate in the activity, you must have the latest SafePal wallet. Download the SafePal App from here, and create a wallet in the App first. Here are some useful tutorials for the wallet setup process:

Step 2 Start your journey of decentralization by doing different tasks

Once you set up the wallet, go to the DAppstore, and open the ‘SFP Airdrop’ DApp. If you can’t find it, you can type ‘SFP Airdrop’ in the search bar.

There will be different tasks listed in the ‘SFP Airdrop’ DApp. Among all of them, the ‘Store & Hold’ task is a mandatory task that all users need to complete and hold till the end of the campaign. Please read the instructions carefully before you start.

Here is a complete list of the different tasks. Detailed instructions and tutorials can be found within the ‘SFP Airdrop’ task pages.

Please note that they are for NEW users only. If you are an old SafePal user, feel free to scroll down to Step 3 and join our referral program to spread your voice about the decentralized wallets!

Task	Details	Reward
Store & Hold (Mandatory）	Store and hold at least $100 worth of the USDC, USDT, or BUSD on Ethereum (ERC20) or BNB Chain (BEP20) in the wallet throughout the campaign 1) The $100 value can be a combined value. You can store different amounts of the above stablecoins so long as their combined value is at least $100 2) Only USDC, USDT, and BUSD from the Ethereum or BNB Chain are eligible for this task 3) The funds need to be held in the wallet until the campaign ends. If this task fails, you will lose the qualification for ALL the tasks of this airdrop campaign. To store and hold, you can choose to: A. Create a new wallet and transfer the funds into it, or B. Import a wallet that has the required funds in the balance already A tutorial on how to complete this task can be found here.	2 shares
Connect with Extension Wallet (Optional)	Connect the app wallet with the SafePal Browser Extension and complete a blockchain transaction in the browser extension A tutorial on how to complete this task can be found here.	2 shares
Make a Swap Order (Optional)	Complete a Swap order worth at least $100. The swap pair should be different cryptocurrencies A tutorial on how to complete this task can be found here.	3 shares
Trade & Exchange (Optional)	Connect a Binance account with the Binance Mini-program within the SafePal wallet and complete a Spot or Futures trade order of any amount and any cryptocurrency A tutorial on how to complete this task can be found here.	5 shares
Participate in DeFi (Optional)	Trade any amount of cryptocurrency in ApolloX, a decentralized futures exchange supported in the SafePal DAppstore. Note: By doing futures trading, you may suffer trading losses due to market volatility. Please make sure you are aware of the risks before doing this task. If you have never tried futures trading before, we don’t recommend you do this task. A tutorial on how to complete this task can be found here.	2 shares
Buy Crypto (Optional)	Buy at least $200 worth of cryptocurrency in the ‘Buy Crypto’ DApp within the SafePal Dappstore. There are multiple providers available. You can choose whichever you prefer. A tutorial on how to complete this task can be found here.	3 shares
Get Hardware Wallet (Optional)	Purchase at least one S1 Hardware Wallet from the www.safepal.com website and enter your Order ID on the task page to validate your entry. Note: Hardware wallet orders completed for this task cannot be canceled. Please estimate before you continue. A tutorial on how to complete this task can be found here.	5 shares

Step 3 Join the referral program, introduce SafePal to your friends and share rewards together

The referral program is optional and available for both new and old SafePal users. By joining the referral program and sharing your referral code or poster with your friends, you get additional shares of the reward pool.

Each valid referral represents an extra 0.5 share of the reward pool. A valid referral means that your new friend needs to complete at least the ‘Store & Hold’ task as described above. The more tasks your new friend completes, the more extra shares you will be credited as a referrer.

If you are an old SafePal user qualified with the following conditions, you are considered a Premium User and will enjoy DOUBLE rewards (1 share) for each valid referral:

You are a SafePal S1 hardware wallet user
You completed at least one Swap, spot trading, or futures trading order between 00:00 UTC on May 1, and 00:00 UTC on November 16, 2022.
You hold 1000 $SFP token (or above) in the wallet by the snapshot time of 00:00 UTC on November 16, 2022

You may find the referral program and detailed instructions in the ‘SFP Airdrop’ DApp. The referral reward you get depends on:

how many referrals you made. Make sure your friend enters your unique referral code to validate your credit, and
how many tasks your new friend completed. Each task they complete will credit you with another 0.5 shares or 1 share (if you are a Premium User) of the reward pool.

What is the timeline of the activity?

Right now: The activity has been started.
00:00 UTC on November 30, 2022: The campaign will end.
December 3, 2022: The calculation of shares will be announced in SafePal Blog and updated in your ‘SFP Airdrop’ DApp
December 6, 2022: The $SFP rewards will be distributed to your BEP20 $SFP address

What does this ‘Share’ mean? How do I know how many $SFP tokens I get?

As there is no participant limit for the activity, it is hard to predict how many participants will join, and thus impossible for us to divide the 1,000,000 SFP reward pool by an uncertain number.

Furthermore, as there are multiple tasks available with different difficulty levels, each task shall represent different rewards to reflect the efforts each user takes.

Considering this, we introduced the concept of ‘Share’, to represent the credit for each tasks. At the end of the campaign, the rewards will be calculated following the steps:

We sum up the total shares that all participants complete together
The 1,000,000 $SFP reward pool will be devided by the number of shares we got from step 1, and thus we know how many $SFP token each share equals to
Since each participant completes different shares, by multiplying the numbers of share and the $SFP token each share represents, we have the final number of how many $SFP should each user receive independently

Eventually, the fomula looks like this:

Each Participant’s SFP Reward = [ 1,000,000 $SFP Tokens/ Number of total shares completed ] * Number of shares completed by each participant

FAQ

1. I am using a SafePal wallet already. Can I join the activity?

The tasks listed above are for new users only, while the referral program is available for all users. Welcome to spared the voice of decentralization and win your reward shares as the SafePal promoter!

2. I see a problem here. How can I report?

For any questions or problems regarding this activity, please go to the SafePal Discord community and report in the #SFP-Airdrop channel.

If you never used Discord before, here is a complete guide on how to navigate the SafePal Discord server and channels.

3. My friend downloaded a SafePal wallet already. Why aren’t we credited with the reward share?

A valid referral means that your new friend needs to complete at least the ‘Store & Hold’ task as described above. The more tasks your new friend completes, the more extra shares you will be credited as a referrer.

4. For the ‘Connect & Transfer’ task, if I send the crypto to my own address, does it count as a valid transfer?

Yes, it counts.

5. For the ‘Store & Hold’ task, if I accidentally transfer some stablecoins out of the wallet, but then I immediately send it back, will I still qualify for the task?

If the system detects that the total value of the required stablecoins is below $100, the ‘Store & Hold’ task will fail, together with other optional tasks as well. If you manage to transfer the funds back to the wallet and increase the required balance above $100 within 24 hours, you can still get a second chance to verify the ‘Store & Hold’ task and continue other options tasks. In such a case, the shares that you have already earned will be credited back to your account again. But if you fail the ‘Store & Hold’ task for the second time, the qualifications for all the tasks will be void.

6. Can I use the same $100 worth of crypto to complete the ‘Store & Hold’ and the ‘Make a Swap’ tasks at the same time?

No. The $100 worth of stablecoins for the ‘Store & Hold’ task have to be kept in the wallet without being spent. If you wish to participate in the ‘Make a Swap’ task as well, you will need to use a separate fund to complete the swap order.

Reminder

Activity Rules

SafePal reserves the right to disqualify participants that are deemed to be spammers or illegally bulk registered accounts, as well as activities that display attributes of self-dealing or market manipulation.

SafePal reserves the right to cancel or amend any activity or activity rules at our sole discretion.

Risk Warning

Cryptocurrency investment is subject to high market risk. Please invest cautiously. SafePal will not be responsible for your investment losses. SafePal will not be liable whatsoever for any direct or consequential loss arising from the participation of its activities. SafePal will make the best efforts to select high-quality partners for WHO, but will not be responsible for your investment losses. Thanks for your support!

SafePal reserves the right to disqualify all suspected participants that are botting, front running, or exploiting the Wallet Holder Offering (WHO) mechanism without appeal. Investors also should be mindful that what has been described above surrounding Wallet Holder Offering (WHO) does not represent financial advice.

Not Investment Advice

This activity does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the article’s content as such. SafePal does not recommend that any cryptocurrency should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.

Non Endorsement

The appearance of a third party on SafePal and its activities does not constitute an endorsement, guarantee, warranty, or recommendation by SafePal. Do conduct your own due diligence before deciding to invest in any third-party projects or use any third-party services.