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Blockchain infrastructure provider and multi-chain identity wallet Site he’s feeling very confident today after a $ 4 million private funding round that involved a host of illustrious names in the crypto space.
The round was led by MapleBlock, GSR, Sanctuary and Ghaf Capital Partners. Other participants included Lithuanian politician, professional poker player, basketball coach and entrepreneur Tony G, Frontier Wallet founder and CEO Ravindra Kumar, Purefi co-founder and BPO Sasha Antropov, Jun Capital partner Alex Man, the Innov8 founder Ritesh Malik and MahaDAO founder Steven Enamakel. , to name a few.
Investors such as Sanctum Ventures, AU21 Capital, Momentum6, NFT Tech, New Tribe Capital also backed Safle’s latest round.
Safle’s long list of backers was attracted by the obvious potential of its unique non-custodial wallet and its sovereign identity protocol which is designed to solve two of the main problems plaguing the cryptocurrency ecosystem. Those with multiple crypto assets are constrained by the lack of chain-independent wallets that interoperate with different blockchains, meaning they are forced to juggle multiple digital wallets to store assets on different chains. The other problem is that many of those wallets are custodial, where a third party controls the private keys.
Safle intends to solve these problems by combining its non-custodial multichain wallet with a sovereign identity protocol and developer-friendly blockchain infrastructure. Having a multi-chain wallet solves the interoperability problem, while the SafleID protocol ensures that users have full control over the assets stored in that wallet under a single username that serves as their blockchain identity.
Safle’s ultimate goal is to reduce friction for both crypto users and developers who want to build decentralized apps that work well with their wallet. Your plan requires a smartphone app where users can access their wallet and SafleID, plus a web app and browser extension with similar capabilities. Through those applications, users will be able to interact with the cryptocurrency ecosystem much more easily than is currently possible.
Safle’s ecosystem is governed by its native $ SAFLE token. Owners will be able to vote on proposed changes to Safle features and functionality. Application developers SafleID and DeFi will also use the $ SAFLE token.
MapleBlock partner Vijay Garg said he believes ease of use is key to adoption and that Safle’s user interface was superior to existing crypto wallets. “We also strongly believe in his vision to create an on-chain identity that spans multiple chains while retaining full custody of his assets at all times,” he said of his decision to back Safle.
With its war chest filled to the brim, Safle’s next step will be to launch its native $ SAFLE token via a DEX Initial Offer at Polkastarter at the end of this month.