SafePal
About SafePal
The price of SafePal (SFP) is $0.75833058 today, as of Sep 08 06:06 a.m., with a 24-hour trading volume of $5.44M. Over the last 24 hours, the price has decreased by -0.53%. SafePal currently has a circulating supply of 487.50M and a market cap of $369.69M.
SFP is the native token of SafePal, a Binance-backed mobile and hardware crypto wallet company founded in 2018. SFP is issued on the Binance (BNB) Smart Chain as a BEP-20 token, and serves as SafePal’s governance token.
SafePal launched SFP on Feb. 8, 2021. The token started trading at $1.34 and hit its all-time high of $4.149 a day later. After a short dip to $1.46 at the end of the month, SFP rose to $3.60 in March. It has not hit such highs since then. By June of that year, it had sunk to 68 cents and, aside from a brief stop at $2.25 in October, continued to fall throughout the year and into 2022. By June 2022, SFP had fallen to 38 cents.
SafePal has a total supply of 500 million SFP. Of this, 20% was reserved for the SafePal Foundation, the non-profit that governs the network. The founding team kept 20% and reserved another 15% to build and market the company’s product. A further 10% was sold in a public sale and 15% in private funding rounds. The team reserved 15% for airdrops and community projects and allocated 5% to grow SafePal’s ecosystem.
Each quarter, SafePal uses some of its profits to buy SFP tokens from the open market and gives them to the community treasury.
SFP holders will decide how to allocate funds donated to the community treasury. Only those that hold more than 500,000 SFP tokens are eligible to submit a proposal.
SFP token holders can create proposals and vote for the Treasury fund usage and new features such as adding new blockchains on SafePal products.