SafePal (SFP) Community Call: Security Updates, New Features, and Partnership Expansion

SafePal (SFP) conducted a community call on April 28 to address pressing security issues, introduce new product features, and discuss plans for broadening partnerships. Key insights were provided by SafePal CEO Veronica, along with contributions from Viction and Monad Foundation representatives.

Heightened Security Threats Alert Users

The session commenced with SafePal issuing an urgent caution about the rising security threats within the blockchain ecosystem. Veronica noted, “Hackers are increasingly using sophisticated methods to target software supply chains rather than the blockchain itself.” There is a worrying trend of compromised Bitcoin library and wallet software deployment channels.

SafePal recommended stringent security measures such as employing hardware wallets, segregating devices for various functions, conducting frequent security checks, and managing DApp approvals cautiously. Veronica added, “The trend toward AI-driven coding has heightened the risk of open-source contamination, necessitating thorough scrutiny of external code by developers.”

Enhanced Security with EAL 6+ Chipset

An update on hardware wallet security was also announced, with SafePal upgrading from the EAL 5+ to the state-of-the-art EAL 6+ security standard. While the EAL 5+ inherently offered robust protection, transitioning to EAL 6+ underscores SafePal’s dedication to delivering superior asset security. The new wallet models already feature these advanced chipsets.

“Our security measures now exceed those of banking credit cards,” Veronica remarked. “We are unwavering in our commitment to protecting users' digital assets with high-caliber security.”

Introduction of SafePal MiniApp and Expanded Banking Gateway

SafePal introduced the “SafePal Mini,” a new Telegram MiniApp that allows users to manage their wallet functionalities directly within Telegram. This MiniApp supports the purchase of cryptocurrencies via an expanded banking gateway, compatible with multiple fiat currencies including USD, EUR, CHF, and CNY.

The wallet's swap function has also been upgraded, enabling users to input a contract address for specific tokens, thus simplifying asset trading.

Partnerships with Viction and Monad

The community call saw participation from key ecosystem partners, Viction and Monad. Viction, known for its zero gas blockchain technology, is pushing advancements in NFTs, gaming, and digital solutions.

Nina, Viction’s Ecosystem Lead, commented, “Partnering with SafePal will greatly improve access to the Viction ecosystem, fostering ownership-focused experiences for builders and users alike.”

Monad, a groundbreaking Layer-1 blockchain compatible with EVM, aims to achieve high transaction throughput, targeting the ambitious feat of processing one billion gas per second. Edwin, Monad’s APAC Ecosystem Lead, mentioned, “Monad’s testnet is available via SafePal, and we’re planning a mainnet launch by year-end, accompanied by infrastructural and project developments.”

Future Prospects

Veronica emphasized SafePal’s development approach, saying, “We design every product with a user-centric mindset, ensuring open-source transparency and rigorous security audits. This year, we are advancing an integrated wallet strategy across hardware, software, and social platforms.”

SafePal will also engage with its global user base at Token 2049, an industry event set for September in Singapore, highlighting the company’s ongoing commitment to innovation and user engagement.