Key takeaways:
- Safle’s crypto wallet sports an easy-to-use UX and is powered by a web 3.0 infrastructure that allows decentralized application developers to effortlessly onboard users onto their dApps
- Users retain full custody of their crypto assets stored in the SafleID at all times, with an ability to manage their private keys with minimum effort
- The ecosystem’s SAFLE token initial DEX offering (IDO) will take place on December 16 on Polkastarter
Safle, a blockchain infrastructure provider aiming to provide market-leading interoperability solutions for digital identity, has announced it raised $4 million in the recently concluded private funding round.
Safle’s multi-chain non-custodial crypto wallet SafletID is a next-gen gateway to the decentralized ecosystem
Safle is building a non-custodial blockchain wallet that is designed to allow users to store their digital assets with ease and retain complete control over crypto assets at all times, thanks to the innovative on-chain identity method.
Safle will provide decentralized finance (DeFi) users, developers, and enterprises with an opportunity to seamlessly access their crypto assets, including NFTs and a variety of DeFi assets, from a number of different blockchain platforms. Cryptocurrency veterans and newcomers alike will undoubtedly appreciate the streamlined user interface and easy-to-use private key management features of Safle’s decentralized wallet solution.
Dunstan Teo, president and co-founder of Sanctum Ventures, talks about the reasons for investing in Safle:
“NFTs and GameFi are currently the two hottest things in blockchain. We are vested and actively adding projects that facilitate innovation, sustainability, and simplified access to the ecosystem. Safle’s vision and tech. solutions can prove to be game-changing in this segment. We are excited to be part of Safle’s journey.”
The importance of having full custody over digital assets is one of the hallmarks of crypto and one of the critical components that sets blockchain-powered finance apart from traditional financial solutions. In order to achieve the ambitious vision of creating an industry-leading wallet solution and a self-sovereign identity protocol, Safle has turned to prominent investors in the crypto sector to seek financial aid.
MapleBlock, GSR, Sanctum, and Ghaf Capital Partners, and a long list of individual investors participated in the Safle private funding round, which netted $4 million for the development of infrastructure services required to run Safle’s decentralized suite of products.
Vijay Garg, a partner and founder of Mapleblock, talks about the Safle team’s achievements and their long-term vision:
“The Safle team has a strong focus on improving the DeFi user experience through their wallet. Their UI/UX felt much superior to many of the existing solutions in the space. We also strongly believe in their vision to create an on-chain identity that spans across multiple chains while retaining full custody of their assets at all times.”
In order to provide maximum accessibility, Safle is developing an all-encompassing suite of decentralized products and services that allows users to interact with different blockchain ecosystems via a web application, mobile app, and internet browser extension.
Safle ecosystem is powered by native SAFLE token, IDO slated for December 16 on Polkastarter
The soon-to-be-launched project’s native SAFLE token will deliver community governance capabilities to the Safle ecosystem and allow SAFLE token holders to participate in the decision-making process that will shape the decentralized ecosystem going forward.
In addition to community governance features, SAFLE tokens will have their value pegged to the SafleID use cases. To achieve an even distribution of developers and regular retail users, the company has built a decentralized autonomous organization, dubbed SafleDAO, which is maintained by SAFLE tokenomics.
The highly anticipated initial DEX offering (IDO) for the SAFLE token will take place on December 16 on Polkastarter. To learn more about the upcoming IDO, click here.
