Dear SafePal Community,
It is with great excitement that we announce the native integration of leading decentralized lending network Morpho and the launch of a giftbox and limited Walletdrop campaign from 8th Jan -7th Feb 2026, 9 AM UTC.
With the integration, users will be able to deposit stablecoins on Morpho Vaults on Ethereum (USDT and USDC), Base and Arbitrum (USDC) networks seamlessly within the SafePal Earn yield aggregator within SafePal App.
The campaign will provide exclusive benefits for SafePal users in the form of 500 limited edition SafePal x Morpho Co-branded X1 hardware wallets and $5000 additional rewards in $MORPHO. The exclusive collection of 500 hardware wallets are based on the SafePal X1, the latest open source bluetooth model worth $69.99 USD. Unique perks (i.e. Boosted APY) are also being planned for these limited edition hardware wallets.
Additionally, every 200 retweets of the X/Twitter campaign post will unlock $50 in MORPHO for 5 winners ($10 each) and 2 winners for a limited edition hardware wallet, which will be announced on the official english Twitter/X and chinese Twitter/X channel.
More about Morpho:
Morpho is the universal lending network with $10B+ in deposits. Morpho helps facilitate noncustodial lending for Safepal users.
Users can deposit to earn yield in real time with borrowing demand backed by the world's biggest DeFi Mullet integrations such as Coinbase crypto-backed loans. Funds are held in vaults curated by the most battle-tested asset curators in DeFi, and can be withdrawn at any time.
More about $MORPHO:
$MORPHO is the governance token of the Morpho protocol. All Morpho contributors and users have an aligned interest around the token. Click here to learn more.
To get started, download the latest version of the SafePal App here and visit the Questhub section to participate and learn more.
Giftbox Tasks and Rewards:
Reward Pool 1: 450 Morpho x SafePal Limited Edition X1 Hardware Wallets
Eligibility and distribution are according to the following breakdown:
Note:
1 Snapshots are taken at any time during each lucky draw period.
2 Winners will be announced on each draw day at 10 AM UTC on both the SafePal Official Twitter and the Questhub Redeem Center.
3 Non-winners are automatically rolled over to the next draw.
Reward Pool 2 (for top 50 stakers): $5000 MORPHO reward pool and 50 SafePal Limited Edition X1 Hardware Wallets
Note:
1 Eligible users within the TOP 50 net deposit amounts will be guaranteed one Morpho x SafePal Limited Edition X1 Hardware Wallet.
2 Each address can claim only one wallet. If a wallet address has already been awarded in a previous “Lucky Staker” round and redeemed a hardware wallet, the reward will roll over to the next qualified user (across both the 'Lucky Staker' and 'Top Staker' pools).
3 Users with a net deposit ≥ 1000 USDC/USDT are eligible for the $MORPHO token distribution.
Reward Distribution
A weekly draw will be held according to the schedule shown in the Lucky Staker pool section.
The 'Top Staker' wallet winners will be announced on February 9, 2026. Walletdrop winners will receive an in-app push notification.
$MORPHO will be distributed to the wallet address used to participate in the campaign within 5 business days after the campaign ends. Winners can also check the results in the Redeem Center of Questhub using the same wallet address that was used to participate in this campaign.
FAQs
Q1: How to Participate?
Update SafePal app to version V4.10.6 → Go to the 'Earn' feature → Deposit into the Morpho vault via "Stake" section.
Important: Only staking via SafePal 'Earn' Morpho Vaults counts as valid participation. Accessing Morpho directly via the DApp browser in the SafePal app will NOT qualify.
Q2: How is "Net Deposit" calculated
Net Deposit = Total Deposit During the Campaign - Total Withdrawals During the Campaign (Snapshots are taken at random times each week.) Please check the P&L calculations by clicking Details in My Holdings for both USDC and USDT deposits with Morpho vaults to ensure accuracy.
Example:
You deposit 1,000 USDC (ERC20) and 200 USDT (ERC20) and withdraw 300 USDC (ERC20) during the event.
-Your Net Deposit in the final snapshot is: 1,000 + 200 - 300 = 800 USDC + 100 USDT
-Qualifies for Lucky Staker (≥100U). Does not qualify for Top Staker (<1,000USDC/USDT)
-If you do not withdraw during the "Lucky Staker" draw period and maintain a Net Deposit above 100 USDC/USDT, you are eligible for the draw.
Q3: How long do I need to deposit? Is there a lock-up period?
Morpho itself allows deposits and withdrawals at any time. However, to qualify for rewards, your Net Deposit must meet the required threshold until the campaign ends.
Tip: To avoid issues caused by network delays or snapshot timing, please do not make any withdrawals within the final 24 hours of the campaign.
Q4: If I deposit 5,000 USDC/USDT and rank 60th, what can I win?
-You are guaranteed a proportional share of the $5,000 MORPHO prize pool.
-You’re also eligible for the weekly Lucky Staker draws (as long as your Net Deposit ≥ 100U at each snapshot).
Q5: How is the $5,000 MORPHO distributed?
All eligible addresses with a Net Deposit ≥ 1,000 USDC/USDT will share the $5,000 MORPHO pro rata based on their share of the total Net Deposit.
Example: If your Net Deposit accounts for 2% of the total Net Deposit from all qualified participants, you’ll receive 2% of the $5,000 $MORPHO reward.
Q6: What if there is a tie for #50 place on the 'Top Staker'?
If multiple users have the same Net Deposit amount, priority goes to the user who reached the amount first.
Q7: How do I claim my limited edition X1 hardware wallet?
Winners will receive an in-app push notification → Tap the notification and go to the 'Claim Page' → Connect the wallet you used to participate → Click 'Claim Now' to next step → Submit Shipping Info and pay shipping fees.
Once the shipping payment is completed, you will receive a confirmation email.
Q8: Which regions can the wallets be shipped to?
This campaign is only eligible for the countries/regions listed here. Users with shipping addresses not included in the shipping list will not be eligible to receive the reward. Any customs tax will also be borne by the user.
Q9: Why do I see a 'Claimable Reward' on my deposit?
The "Claimable Reward" you see is the standard Morpho protocol boosted APY, distributed by the Morpho platform itself. These rewards are separate from the 'Top Staker' pool and are not part of the campaign distribution. You can claim the reward here at any time you want.
Q10: How long will it take to receive the hardware wallet after claiming it?
The reward will be shipped within 2-3 weeks after successful redemption.
Q11: What perks come with the limited edition wallet?
The limited edition hardware wallet is based on the SafePal X1, which is the latest open source bluetooth model worth $69.99 USD. Learn more about the SafePal X1 here.
Holders of the Morpho x SafePal Limited Edition X1 Hardware Wallet may receive exclusive perks in future campaigns, such as boosted APY for depositing. Stay tuned for more updates!
Q12: How can I ask for assistance?
For any questions or problems regarding this activity, please go to the SafePal Discord community and raise your enquiries in the #WHO-AND-EVENTS channel here.
Full Disclaimer:
Activity Rules
SafePal and Morpho reserve the right to disqualify participants that are deemed to be spammers or illegally bulk-registered accounts, as well as activities that display attributes of exploitation or market manipulation.
SafePal reserves the right to cancel or amend any activity or activity rules at our sole discretion.
Not Investment Advice
This activity does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the article’s content as such. SafePal does not recommend that any cryptocurrency should be bought, sold, or held by you.
Cryptocurrency investment is subject to high market risks. Please invest cautiously. SafePal will not be responsible for any investment losses. SafePal will not be liable whatsoever for any direct or consequential loss arising from the participation of its activities.
Do conduct your own due diligence and consult your financial advisor before making any investment decisions.
Non-Endorsement
The appearance of a third party on SafePal and its activities does not constitute an endorsement, guarantee, warranty, or recommendation by SafePal.
Do conduct your own due diligence before deciding to invest in any third-party projects or use any third-party services.
About SafePal:
Founded in 2018, SafePal is a next generation non-custodial crypto wallet suite backed by Animoca Brands, Binance and Superscrypt. The suite empowers access to decentralized and centralized finance on 200+ blockchains across its hardware, software, and browser extension wallet solutions.
Encompassing a diverse mix of crypto asset management solutions like cross-chain swapping, trading and yielding tools, centralized exchange (CEX) mini programs, a banking gateway and Mastercard for users — SafePal serves over 25 million users globally across 200+ regions and countries in 16 languages.
SFP is a decentralized BEP-20 and ERC-20 token fuelling the SafePal ecosystem with various utilities such as discounts on SafePal products, staking boost and airdrop rewards, seamless conversion to gas tokens, and more.
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