Dear SafePal community,
SafePal is excited to announce the launch of a Giftbox campaign with onchain UX ecosystem WalletConnect, from Feb 13th – 20th 9 AM UTC, 2025 with a 45,000 $WCT reward pool.
The WalletConnect Token ($WCT) is an important utility token of the WalletConnect Network, launched by the WalletConnect Foundation. $WCT plays a key role within the WalletConnect Network, helping to fuel UX innovation across web3 and enable a more usable onchain landscape.
Powering the onchain UX ecosystem, $WCT will have four key functions focused on providing both individuals and organizations with the ability to better shape the user experience standards of the future digital landscape we are collectively building, and ensure that the evolution of onchain experiences is driven by real user needs. Holders have a stake in the future of onchain UX and to participate in community-driven innovation.
The four key functions of the token are:
- Fees: $WCT holders may propose, discuss, and decide upon the introduction of fees through governance mechanisms as a long-term economic model of the network. These would be used, for example, by projects to pay for network services like relay usage.
- Rewards: Tokens are distributed by the Network as incentives to keep the Network secure and efficient.
- Staking: Users can stake tokens to receive rewards and take part in governance.
- Governance: $WCT holders can vote on proposals and changes, giving the community control over the network’s development through decentralized governance.
For more details about WalletConnect Network and the $WCT token, please view here.
To get started, download the latest version of the SafePal App here and visit the Questhub section to participate and learn more.
Giftbox Tasks and Rewards:
The first 5,000 eligible participants will receive rewards, with each participant getting an equal share of the 45,000 $WCT reward pool, amounting to 9 $WCT per person.
FAQs
1.How can I stake $WCT?
To stake $WCT, you need to visit your WalletConnect Profile and navigate to the staking section.
The staking process involves two transactions:
- First, you’ll need to approve the staking contract to use the $WCT tokens you want to stake.
- Then, you can create your staking position by selecting:
- The amount of $WCT to stake
- The lock duration
Each step will require a separate transaction signature. Once both transactions are confirmed, you will receive your staking position and begin earning rewards based on your stakeweight.
Warning: Once you stake your $WCT tokens, they will be locked for the duration you selected. You will only be able to unstake your tokens after the lock period has ended.
Learn more here.
2.How can I trade $WCT?
At launch, the WCT token will be non-transferable for all holders. This means that token holders will not be able to transfer their tokens to other wallets or addresses. However, this restriction does not affect then-enabled utilities of the WCT token such as governance participation and staking capabilities, allowing all users, regardless of their allocation conditions, to participate in governance and staking activities. For detailed information about the WalletConnect token, please refer to here.
3.How to meet the whitelist requirements?
Users must meet either one of the following conditions to qualify:
a) Have a wallet that is paired with a SafePal S1, S1 Pro or X1 Hardware Wallet.
b) Wallet address stores at least 10 SFP (BEP20) before Feb 12, 2025, 00:00 UTC.
c) Have at least 10 SFP(BEP20) staked in SafePal Earn or SFPlus before Feb 12, 2025, 00:00 UTC.
d) If you do not meet the conditions above, you can use SafePal Swap to swap into 10 SFP(BEP20)/ 10 USDC/10 USDT. Learn how to use SafePal Swap here.
4.How can I ask for assistance?
For any questions or problems regarding this activity, please go to the SafePal Discord community and raise your enquiries in the #WHO-AND-EVENTS channel here.
Full Disclaimer
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 exploitation or market manipulation.
SafePal reserves the right to cancel or amend any activity or activity rules at our sole discretion.
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.
Cryptocurrency investment is subject to high market risks. Please invest cautiously. SafePal will not be responsible for any investment losses. SafePal will not be liable whatsoever for any direct or consequential loss arising from the participation of its activities.
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.
About WalletConnect:
The WalletConnect Network, powered by the WalletConnect Token (WCT), is the onchain UX ecosystem.
From its beginnings in 2018, the WalletConnect Network has been the backbone of a growing onchain UX ecosystem, enabling millions of users to connect with thousands of apps and explore a digital world designed for ownership.
Since its inception, the WalletConnect Network has facilitated over 220 million connections, and 35 million users worldwide have trusted WalletConnect to power their Web3 experience.
As the Network, market, and technology evolve, the WalletConnect Foundation envisions a robust suite of new functionalities and applications to be built on the WalletConnect Network. Advancements in areas such as identity, payments, onchain service charges, permissions and security are all innovations that participants of the WalletConnect Network are uniquely positioned to build and scale, all serving the mission to improve UX.
As the network continues along its ambitious path, those who value interoperability, connectivity, standardization, and consensus, and truly believe in a thriving digital future fueled by onchain innovation designed to truly make an impact are welcome to join and participate in building the onchain UX ecosystem.
About SafePal:
Founded in 2018, SafePal is a next generation non-custodial crypto wallet suite backed by Animoca Brands, Binance and Superscrypt. The suite empowers access to decentralized and centralized finance on 100+ blockchains across its hardware, software, and browser extension wallet solutions.
Encompassing a diverse mix of crypto asset management solutions like cross-chain swapping, trading and yielding tools, centralized exchange (CEX) mini programs, a banking gateway and Mastercard for users — SafePal serves over 20 million users globally across 200+ regions and countries in 16 languages.
SFP is a decentralized BEP-20 and ERC-20 token fuelling the SafePal ecosystem with various utilities such as discounts on SafePal products, staking boost and airdrop rewards, seamless conversion to gas tokens, and more.
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