Dear SafePal Community,
It is with great excitement that we announce the return of the highly anticipated Wallet Holder Offering (WHO) in partnership with SoSoValue, an all-in-one crypto analytics tool. The WHO will start from Dec 24th, 2024 12PM UTC on a first-come, first-served basis until all rewards are fully claimed, and provide exclusive rewards in SoSoValue Index ($SSI) tokens — which will introduce a new asset class for Web3 and crypto users.
What are SoSoValue Index($SSI) tokens:
The SoSoValue Index (SSI) is an innovative spot crypto index protocol built on a purely on-chain architecture and supported by trusted third-party custody partners. SSI provides a secure, transparent, and low-cost passive crypto investment solution, eliminating the complexities of DeFi landscape and individual token selection.
Launched in December 2024, four index tokens are available: MAG7.ssi, MEME.ssi, DEFI.ssi, and USSI (hedged). Each index token represents a carefully curated basket of spot crypto assets, constructed using transparent rules and rigorous methodology to track major crypto sectors. The four types of $SSI tokens are available for trading on Uniswap on the Base blockchain and also through SafePal Swap within a week.
What is SoSoValue
Headquartered in Singapore, SoSoValue is an all-in-one crypto analytics tool dedicated to transforming crypto research & investment with AI-driven CeDeFi innovation.
Backed by $4.1M in seed funding led by Sequoia China, our platform empowers investors with Wall-Street equivalent insights for all, offering real-time market data (Feat. ETF Dashboard, Sectors Movers), AI news aggregator, and a thriving investors community.
The platform attracted 3.1M+ organic users globally, led by the US, Japan, Singapore and Hong Kong, establishing leading mindshare in major financial markets. By the end of 2024 they will roll out a groundbreaking decentralized asset protocol allowing streamlined access to wealth management.
Before you start
Before you join the campaign, ensure you have:
- downloaded and set up the latest version of the SafePal App
- a total asset value above 10 USDT in your SafePal wallet before the campaign starts. Accounts created after the campaign begins are not eligible.
To access the campaign, go to the Explore tab in the SafePal wallet, and click the ‘WHO-SSI’ DApp in the featured column. You can also access the campaign from the DAppstore banner or in the QuestHub section.
What are the Rewards
A total reward pool of $100,000 USD worth of $SSI tokens has been exclusively allocated for this WHO SSI campaign.
For this WHO-SSI campaign, participants will qualify for 5 different reward tiers based on their asset values in their respective SafePal wallet addresses and completing the tasks detailed below.
Note: There are no fixed participating slots for this campaign as it will end once all the rewards are claimed on a first-come first serve basis.
How to Get Your SSI Rewards
The First Task: To Learn about SSI
As one of the objectives of the WHO campaigns is to introduce participants to new Web3 projects and assets, the first task will be to enable participants to learn about Sosovalue, the partner for this campaign and its innovative Index Tokens ($SSI) through a quiz.
Participants will need to answer 5 multiple choice questions correctly to successfully complete the first task and learn essential information about SoSoValue and $SSI.
The Second Task: Verify your Asset Holdings in the SafePal Wallet
The core of the WHO-SSI campaign is about the value of assets you are holding in the SafePal wallet. Therefore, the second task, which is also the core task, is to verify the value of assets in your SafePal wallet account.
The asset value is based on the total value of selected assets held in the respective wallet address, which has already been calculated by averaging 3 separate snapshots taken on 20th, 21st and 22nd December 2024 at 12AM UTC.
The calculated asset values are in a 1-1 ratio to determine if the designated wallet address is in the Silver, Gold, Platinum, Elite, or Black Tier.
Note: For the full list of assets eligible for the calculation, participants can refer to the guide here.
The Third Optional Task: SFP Holder Exclusive – Multiply your Asset Value by 10 through SFP Staking
This is an optional task exclusive for SFP stakers. The combined value of $SFP staked through designated channels will be multiplied by 10, providing a significant boost for participants and allowing them to qualify for higher reward tiers. The eligible channels for staking SFP for this campaign include:
- The total value of $SFP staked in SFPlus before the campaign (the average of 3 separate snapshots taken on 20th, 21st and 22nd December 2024 at 12AM UTC).
- The total value of $SFP staked in the SafePal Banking gateway before the campaign (the average of 3 separate snapshots taken on 20th, 21st and 22nd December 2024 at 12AM UTC).
- The total value of $SFP staked in the WHO-SSI tab with a 14 day lock period when the campaign starts
Participants will be able to stake additional SFP when the WHO-SSI event goes live as many times as they want before clicking on the “Claim” button, but these stakes will require a lock period of 14 days. You can check the amplifier result shown in the “My current asset value” section after staking.
The price of each SFP token is calculated based on the average price of the 3 snapshots taken on 20, 21st and 22nd December 2024 at 12AM UTC, which is $0.687. After the 10X multiplier, each staked SFP token will therefore be valued at US$6.87. For example, staking 1,000 $SFP will add $6,870 to your asset value when qualifying for reward tiers for the WHO SSI campaign.
Note: For the 10x multiplier for staking $SFP with the 14-day lock period (after the campaign starts) to take effect, the total staked SFP (combining 14-day fixed-term stakes from Task 3 and the current quantity of staked SFP in SFPlus and the banking gateway) will be compared with your pre-campaign snapshot. Only the amount exceeding the pre-campaign snapshot will be added to the snapshot balance and combined for the 10x asset value multiplier. Basically, no double-dipping will be allowed for unstaking and re-staking SFP that is already staked and snashot before the event.
A guide on how to stake $SFP for the WHO-SSI event can be found here.
Rewards Calculation & Distribution
After participants have completed the required tasks, they will be able to claim the $SSI rewards by selecting the Claim tab as shown below. Participants will then be able to see what reward tier and $SSI allocation they will be getting, and the rewards will be sent to their wallet address on the Base chain in around 30 minutes after confirming the claim.
IMPORTANT: The ‘Claim’ button will determine the final confirmation of your reward tiers. After selecting the claim button, participants will not be able to stake more $SFP to boost their asset value and qualify for higher reward tiers.
FAQ
1. What is SafePal WHO? Why should I participate?
SafePal WHO is short for SafePal Wallet Holder Offerings, a pre-TGE project airdrop program and mechanism in the SafePal App to reward all SafePal users and community supporters.
It is designed to reward SafePal users by providing exclusive access to the airdrop tokens from SafePal ecological partners in a secure, decentralized and user-friendly way. Through the WHO program, users can engage with the latest Web3 technology and products, and gain early access to potential token airdrops, while WHO partners can connect with the large and active SafePal community.
2. Do I need to complete all tasks to be eligible for rewards?
Users will need to complete the 1st and 2nd task to be eligible to claim the rewards.
However, completing staking SFP in the 3rd task will give participants a significant boost and enable them to qualify for higher asset tiers and more WHO rewards.
3. Is the $SFP in my wallet balance eligible for the 10x Multiplier?
No, only the $SFP staked in SFPlus and SafePal banking gateway or under the 3rd task in the SoSoValue WHO event tab is eligible for the 10x Bonus amplifier calculation.
4. If I transfer assets before the event starts, can I still earn staking rewards?
Assets transferred after the snapshot will not count towards the current asset points for the event. However, if you swap the transferred assets into $SFP and stake them in the event, you will still be eligible for rewards.
5. What happens if my asset balance changes during the snapshot period?
A snapshot is taken daily before the event starts, and the average of your assets at the snapshot times will be calculated.
6. Are there any restrictions for staking $SFP in the event?
To stake in the event, you must have a wallet balance of other assets with a combined value greater than 10 USDT. New accounts registered after the event starts will not be eligible.
7. After the event starts, if I unstake $SFP from SFPlus or the banking gateway and stake it again, will I earn additional rewards?
No, the $SFP staked in SFPlus and the banking gateway is already recorded during the 3 snapshots before the campaign starts. Unstaking and staking $SFP again in SFPlus or the banking gateway will not generate additional rewards.
8. How can I boost to a higher tier?
After the campaign starts, you can ONLY stake additional $SFP tokens in Task 3 “Check your $SFP Amplifier” with a 14-day lock period to receive a 10x boost.
To qualify for the SFP amplifier in Task 3, your total staked SFP (combining 14-day fixed-term stakes from Task 3 and the current quantity of staked SFP in SFPlus and the banking gateway) will be compared with your pre-campaign snapshot.
Only the amount exceeding the pre-campaign snapshot will be added to the snapshot balance and combined for the 10x asset value multiplier. (Basically, no double-dipping will be allowed for unstaking SFP that is already staked before the event and staking it again.)
Visit the WHO-SSI page to review requirements and stake your $SFP tokens. For detailed instructions, refer to the guide here.
9. 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-SSI channel on discord here and Telegram here.
Disclaimer
Activity Rules
SafePal and Cellula reserved all interpretation rights for this event. 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 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 Visa card for users — SafePal serves over 18 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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