Summary
Safepal announces the launch of SFPlus, a new staking initiative by SafePal that allows SFP token holders to earn $CELL rewards. Participants can stake their SFP tokens for a share of a 200,000 $CELL reward pool, with rewards based on staking amount and duration. The program represents a partnership between SafePal and Cellula, a gamified virtual mining platform. While the initiative promises benefits for loyal participants, the intricate reward calculation and focus on staking could raise questions about fairness and accessibility for smaller investors.
Celebrating SFPlus: $CELL Rewards Exclusive for SFP Holders
Dear SafePal community,
To commemorate and celebrate the launch of SFPlus, SFP token holders will be able to stake SFP for a share of rewards from the first reward pool of 200,000 $CELL.
$CELL tokens are the core asset of the Cellula programmable incentive layer, and this initiative also represents a closer partnership as a follow up to the first Wallet Holder Offering event launched with the on-chaiin game this year.
Participants will be able to look forward to more reward pools with future partnerships and collaborations. To get started with SFPlus, simply download the SafePal App here and select the banner or SFPlus icon in the wallet section, followed by the $CELL reward pool tab as shown below. Note that the SFPlus icon will only be visible if you have updated to SafePal App 4.7.7.
Users can also learn about the other utilities of SFP below the $CELL Reward Pool tab. The $CELL reward pool for SFPlus will run from 21sto 28th August 9AM UTC, and participants will earn a score based on the amount of SFP and the length of time staked.
Important: The score for participants will continue to accrue as long as the SFP remains staked in SFPlus, meaning that loyal participants will be able to increase their score over time and automatically participate in any subsequent reward pools that are launched in SFPlus,
Interested participants can refer to the blog post here under the ‘What’s included in SFPlus section” to learn how the score will be calculated (subsequent reward pools will follow a similar structure):
Users who stake SFP will then be able to earn a share of airdrop rewards from the pool, which will be calculated on an hourly basis in proportion to the individual scores of respective wallets/participants over the total score.
The allocation will be displayed in the reward dashboard and updated in real time:
Hourly Reward Pool = Total Reward Pool ÷ Total Event Hours = 200,000 $CELL ÷ 7 days = 200,000 $CELL ÷ 168 hours ≈ 1,190.48 $CELL
Percentage share of hourly reward pool = Individual User score ÷Total Score for all participants for that hour
$CELL allocation earned for that hour = Percentage share (for respective participant) x Total hourly reward pool
For example, if the person staking SFP has a score of 5000 and the total score of all participants for that hour is 50000, the particular person will earn the following allocation for that hour:
5000 ÷ 50000 x 1,190.48 $CELL = 119.048 $CELL
After completion of the event, participants can see how to claim their rewards in the respective event tab, or access past events via the “Rewards History” tab.
About SafePal
Founded in 2018, SafePal is a comprehensive crypto wallet suite backed by industry leaders such as Animoca Brands, Binance and Superscrypt. SafePal empowers users to own their crypto adventure by accessing opportunities securely in the decentralized world via its hardware wallet, mobile app, and browser extension wallet solutions.
The SafePal platform serves over 13 million users globally across 200+ regions and countries, supporting 15 languages, 100+ blockchains with their tokens and NFTs. It also encompasses crypto asset management solutions like cross-chain swapping, trading and yielding tools, and even a CeDeFi banking gateway and Visa card for users.SFP is a decentralized BEP-20 and ERC-20 utility token serving as the growth engine of the SafePal ecosystem, and can be used to purchase SafePal products at a discount, converted seamlessly to gas across chains in the app, in addition to rewarding token holders and education programs.
Stay informed about SafePal here
About Cellula
Cellula is a programmable incentive layer that utilizes a virtual Proof-of-Work (vPOW) mechanism to achieve fair asset distribution and liquidity guidance through innovative gamified issuance methods. At its core, vPOW combines principles from Conway’s Game of Life, the Variable Rate GDAs Algorithm, and Game Theory, creating a more dynamic and programmable incentive system.
Cellula encompasses gamified virtual bitcoin mining. Users can create “BitLife,” a unique digital life, from “BitCell” digital cells. Each combination is one-of-a-kind and evolves on-chain, offering unlimited possibilities for the digital life ecosystem.
Cellula launched its mainnet on April 15th, and over 217K users have participated and 1.5M BitLifes have been minted.
Link: The post “Celebrating SFPlus: $CELL Rewards Exclusive for SFP Holders” first appeared on SafePal.
