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.
“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.