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By Ian Allison, AI Boost|Edited by Sheldon Reback
Jul 14, 2025, 9:00 a.m.
- SafePal and 1inch partnered on a wallet giveaway campaign targeting DeFi-native users
- 300 co-branded hardware wallets to be awarded to active participants on SafePal’s swap aggregator
- Initiative arrives as decentralized exchanges capture 30% of global crypto spot trading volume
Crypto wallet provider SafePal and decentralized exchange (DEX) aggregator 1inch announced a free hardware wallet giveaway to reward active decentralized finance (DeFi) users while sidestepping the common pitfalls of token airdrops.
The program will distribute 300 limited-edition, co-branded hardware wallets to participants who use 1inch within SafePal’s mobile wallet swap aggregator, the companies said Monday. Unlike conventional airdrops — often gamed by automated bots and opportunistic users — this campaign intends to target committed, self-custody-focused participants.
STORY CONTINUES BELOW
“Token airdrops tend to inflate metrics without long-term engagement,” said SafePal CEO Veronica Wong. “Walletdrops like this favor DeFi-native users and reinforce security best practices.”
The move comes as decentralized exchanges gain ground, accounting for a record 30% of global crypto spot trading volume in June, according to The Block. That market share signals growing user interest in permissionless, peer-to-peer trading options over centralized exchanges.
SafePal said it is continuing to expand its product line, having recently upgraded the hardware wallets’ security chips and adding new blockchain integrations. It also introduced SafePal Mini, a Telegram-based wallet, and revamped its yield aggregator with staking support for networks like Solana.
For 1inch, which connects to both decentralized and centralized liquidity sources across over 200 blockchains, the partnership doubles as a push to reaffirm the importance of self-custody in an industry still reeling from past centralized exchange failures.
“As DeFi scales, reinforcing user-owned asset management is critical,” said 1inch co-founder Sergej Kunz.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
Ian Allison is a senior reporter at CoinDesk, focused on institutional and enterprise adoption of cryptocurrency and blockchain technology. Prior to that, he covered fintech for the International Business Times in London and Newsweek online. He won the State Street Data and Innovation journalist of the year award in 2017, and was runner up the following year. He also earned CoinDesk an honourable mention in the 2020 SABEW Best in Business awards. His November 2022 FTX scoop, which brought down the exchange and its boss Sam Bankman-Fried, won a Polk award, Loeb award and New York Press Club award. Ian graduated from the University of Edinburgh. He holds ETH.
“AI Boost” indicates a generative text tool, typically an AI chatbot, contributed to the article. In each and every case, the article was edited, fact-checked and published by a human. Read more about CoinDesk’s AI Policy.
