SafePal
SFP
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
SafePal (SFP) displays strong, ongoing product development and integration cadence, supported by a large user base and incubation backing from Binance Labs. The project maintains an active release cycle across hardware wallet firmware, app updates, and multi-chain integrations. However, its overall profile is tempered by several operational and structural weaknesses: only approximately 25% of the 500,000,000 maximum supply is currently in circulation with limited public vesting transparency, governance remains centralized, and trading volume is relatively modest within a competitive wallet landscape. From a security standpoint, while no smart contract exploits, protocol-level hacks, or direct fund thefts have occurred, SafePal has experienced third-party vulnerability disclosures (Kraken Security Labs in 2021) and an order-plugin data breach affecting approximately 39,798 customers in August 2026 (which compromised customer order info without exposing private keys or funds). The absence of formal, recognized third-party smart contract audits also weighs on security assurance. No qualifying red-flag events requiring a score cap were established.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About SafePal (SFP)
SafePal (SFP) is the native utility token of the SafePal cryptocurrency wallet platform, which provides non-custodial hardware wallets, a mobile application, and a decentralized finance hub. Incubated by Binance Labs and launched through the Binance Launchpad, SafePal operates primarily across the Ethereum (ERC-20) and BNB Chain (BEP-20) networks. The platform supports multi-chain asset management and hardware-level security integrations across multiple blockchain networks.
The SFP token has a fixed maximum supply of 500,000,000 tokens. Within the platform, the token functions as a utility asset used for discounts on hardware products and accessories, payment of ecosystem fees, staking incentives, and boosted yields within integrated DeFi services. SFP holders can also participate in feature-voting mechanisms regarding ecosystem updates, though governance remains centralized without an on-chain decentralized autonomous organization (DAO).
SafePal carries operational and security risks documented in its operational history. In February 2021, Kraken Security Labs published a security disclosure regarding vulnerabilities in the SafePal S1 hardware wallet, prompting a public response and remediation from the team. In August 2026, SafePal disclosed a data breach caused by an authorization flaw in an order-tracking plugin, which exposed order information for 39,798 customers who placed orders between March 2025 and April 2026; no private keys, seed phrases, or user funds were compromised. Additional structural concerns include the absence of recognized third-party smart contract audit scores, limited public transparency regarding token vesting schedules, and a low circulating supply ratio of approximately 25%.