Leading DeFi protocol Scallop on the Sui public chain airdropped today, and participating users can convert the previously minted “Pearls” into the platform token $SCA at 7 pm tonight. $SCA has been listed on multiple exchanges such as Bybit, KuCoin, and MEXC, and reached a peak of $1.7 before the deadline.
(Token Economic Model)
Listed on Bybit, KuCoin, MEXC, and other exchanges
Scallop: The number one lending protocol in the Sui ecosystem TVL
Following the airdrops of Saga and Wormhole yesterday, Scallop, the number one DeFi protocol in terms of TVL on the public chain Sui, also conducted an airdrop today, sparking lively discussions and expectations within the community once again.
(Airdrop Activity Page)
It is shown that users who have interacted with the protocol before mid-February can mint “Pearls”. These can be used to exchange for the Scallop platform token $SCA at 7 pm Taiwan time today.
(Official Explanation)
The total supply of $SCA is 250 million, and the airdrop accounts for 7.5% (18.75 million) of the total supply, which is allocated as follows:
Liquidity mining (45%) – distributed through various liquidity incentive programs.
Scallop core contributors (15%) – owned by the founding team contributors.
Development and operations (4%) – allocated for development and operational purposes.
Advisors (1.5%) – distributed to key project advisors.
Strategic investors and partners (15%) – reserved for private fundraising and strategic partnership relationships.
Liquidity (5%)
Treasury (7%)
It is worth mentioning that the project team and investors implemented a 0% token release during the TGE (token generation event) and set a minimum lock-up period of 6 to 12 months, demonstrating a long-term commitment to Scallop’s value.
($SCA Token Distribution)
At the same time, $SCA has been listed on multiple exchanges, including Bybit, KuCoin, MEXC, Gate.io, BingX, and LBank.
According to market data from Bybit, $SCA reached a peak of $1.7163 and was oscillating around $0.99 before the deadline.
Scallop is the number one lending protocol in the Sui ecosystem TVL, with a current TVL of $117 million. It is also the first DeFi project funded by the Sui Foundation. By emphasizing institutional-grade quality, enhanced composability, and strong security, Scallop is dedicated to building a dynamic lending market, providing high-interest loans, low-cost borrowing, AMM and digital asset self-management tools, as well as offering a professional trader SDK.
In addition to receiving clear support from the Sui Foundation, Scallop recently completed a $3 million financing round led by CMS, 6th Man Ventures, KuCoin Labs, Blockchain Founders Fund, Cypher Capital, and the risk investment department of United Overseas Bank.
(Investor Lineup)
Furthermore, the project has attracted support from a series of well-known angel investors.
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