SNEAK PEEK
- SafePal adds support for TON to allow users to store and transfer $TON in its hardware & software wallets.
- SafePal is creating an open-source code as a part of The Open Network Foundation grant program.
- SafePal S1 and TON will integrate by the end of this year.
SafePal, the wallet developer, has added support for The Open Network. Initially, the latter was designed by the team at Telegram; however, it is now a completely independent and open-source community project.
Owing to the integration, users can store and send $TON in the hardware and software wallets of SafePal. Also, they can interact with TON decentralized applications.
In the coming time, SafePal will incorporate support for $TON inside the extension wallet. The collaboration between SafePal and The Open Network will provide a TON grant to assist in the development of open-source.
By working together, both parties will lead to the development of an open, interoperable, safe, and transparent network, to strengthen the upcoming level of blockchain adoption.
Head of Incubation at the TON Foundation, Justin Hyun, shared his excitement about partnering with SafePal to be the initial hardware solution on The Open Network.
He said:
We are excited about the prospects of SafePal and their journey to open-source, as this builds greater trust and resilience for the safekeeping of assets.
Coincidentally, the integration has happened at a time when interest in The Open Network is growing progressively. During the past two weeks, $TON is up 50%. Moreover, STON.fi has become the first DEX of the network and is being pursued by Defi Llama.
It is now possible to send as well as exchange tokens smoothly over peer-to-peer among users on Telegram, thanks to the @wallet service. Telegram has also released a tokenized username auction that’s dependent on the TON blockchain.
SafePal hardware wallets’ sales have taken off even since the FTX has crashed, which has pushed owners of crypto to self-custody their assets. During the last 14 days, SFP, SafePal’s native token, has jumped in terms of value.
It is possible to interlink all three types of wallets, which enables users to discover Web3 in whatever way they want.
The team at SafePal is developing an open-source program that will open the SafePal browser extension, mobile application, and communication protocol to third-party developers on the hardware wallet.
