Scallop price

SCA

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Scallop, with its ticker SCA, is a leading decentralized finance (DeFi) protocol that integrates traditional financial services with cryptocurrency functionalities on the Sui Network. Built using the Move programming language, Scallop offers a secure, scalable, and user-centric platform for lending, borrowing, and trading digital assets. Supported by a seasoned team in DeFi, cybersecurity, and fintech, Scallop is backed by investors like CMS Holdings, 6th Man Ventures, KuCoin Labs, and UOB Venture Management. As the first DeFi protocol to receive a grant from the Sui Foundation, Scallop is a cornerstone of the Sui ecosystem.

Core Technology

• Sui Network: A high-performance Layer 1 blockchain launched in May 2023, Sui supports up to ~297,000 transactions per second (TPS) through its object-centric data model and delegated proof-of-stake (DPoS) consensus. Its horizontal scaling and parallel transaction processing ensure low latency, instant finality, and minimal fees, making it ideal for DeFi applications like Scallop.
• Move Programming Language: Specifically designed for Sui, Move enhances security by enabling verifiable smart contracts with fewer vulnerabilities compared to languages like Solidity. Its resource-oriented design prevents common exploits, such as reentrancy attacks, ensuring Scallop’s robustness against threats.

Key Features

Scallop integrates traditional banking with DeFi, offering:

• High-interest lending and low-fee borrowing through a dynamic money market.
• Automated Market Making (AMM) for liquidity and efficient trading.
• Digital asset self-administration tools for portfolio management.
• A Software Development Kit (SDK) for professional traders to implement advanced strategies.

Security and Compliance

Scallop prioritizes institutional-grade security with:

• Multi-signature wallets and hardware security modules (HSMs) to protect user assets.
• Regular security audits to address vulnerabilities.
• Compliance with global regulatory standards, ensuring legal operation and user trust.

SCA Token

You can lend $SCA on the Scallop platform and use it as collateral to borrow other assets. Additionally, you can lock your $SCA to receive veSCA, which enables participation in Scallop’s loyalty program, referral program, and other exclusive benefits (follow Scallop’s Twitter and official announcements for updates). Currently, the primary function of veSCA is to boost your borrowing rewards.

• SCA Documentation: https://docs.scallop.io/token/scallop-token
• veSCA Documentation: https://docs.scallop.io/token/vesca

Innovative Edge

Scallop’s enhanced composability enables seamless integration with other Sui-based DeFi protocols, fostering a robust ecosystem. Its focus on user empowerment, security, and scalability positions Scallop as a pioneer in peer-to-peer money markets, redefining how traditional and digital finance converge.

Scallop (SCA) is a decentralized finance (DeFi) protocol on the Sui Network, designed to bridge traditional finance and cryptocurrency through a secure, scalable, and user-centric platform. Its real-world applications empower users to manage digital assets efficiently while fostering financial inclusion and interoperability. Below are its key applications:

• Lending and Borrowing: Users can lend assets like SUI, USDC, and USDT to earn dynamic interest rates (adjusted based on market conditions). Borrowers can use assets as collateral for loans, with features like zero-fee flash loans and up to five sub-accounts for managing multiple positions, catering to both retail and institutional users.
• sCoins (Scallop Market Coins): Depositing assets into Scallop’s lending pools yields sCoins (e.g., sSUI, sUSDC), which represent deposits and accrue interest over time. These tokenized debts enable users to claim assets or engage in derivative financial products, enhancing DeFi composability.
• Scallop Swap and Bridge: Scallop provides a user interface for asset swapping and cross-chain bridging, improving interoperability. Partnerships with platforms like Aftermath Finance support multi-swap capabilities.
• Automated Market Making (AMM): Scallop’s AMM ensures liquidity for trading, offering low slippage and efficient price discovery for traders and liquidity providers.
• Digital Asset Management: Self-administration tools allow users to manage portfolios, with collateral pools and risk management parameters to optimize returns and mitigate volatility.
• Developer Tools: Scallop offers a Software Development Kit (SDK) and Sui Programmable Transaction Block (PTB) tools, enabling developers and traders to create custom strategies, such as arbitrage trading and zero-interest loans, without extensive coding.
• Institutional-Grade DeFi: With a focus on security and regulatory compliance, Scallop integrates with traditional financial systems, providing a trusted platform for institutional and retail users. Its open-source framework supports other Sui projects (e.g., Kai Finance, SuiPearl).

As of March 29, 2025, Scallop’s total value locked (TVL) reached $130.27 million, with $187 million in deposits and collateral and over $15 billion in lending/borrowing volume, reflecting strong adoption. Backed by investors like CMS Holdings, 6th Man Ventures, KuCoin Labs, and UOB Venture Management, and as the first DeFi protocol to receive a Sui Foundation grant, Scallop drives innovation in the Sui ecosystem.

Real-World Collaborations

Scallop has engaged in several real-world collaborations recently, leveraging its DeFi infrastructure to create tangible impacts. The following collaborations were identified from

@scallop_io’s X posts and other sources:

• RNS Palau ID Partnership (May 2025): Scallop partnered with RNS.global, the world’s first sovereign-backed blockchain-native digital identity platform, to offer Scallop users access to Palau’s Digital Residency Program. This allows SCA holders to obtain a legally recognized on-chain identity, with benefits like extended stays in Palau (up to 180 days). Notable figures like Vitalik Buterin and Tim Draper also hold Palau IDs, highlighting the program’s prestige. This collaboration bridges DeFi with real-world identity solutions, enhancing user trust and global accessibility.
• GiveRep Loyalty Campaign (May 2025): Scallop collaborated with GiveRep, a platform for community-driven loyalty programs, to launch a campaign where users can earn SCA rewards by creating X content about Scallop. This initiative promotes real-world engagement by incentivizing community participation and increasing Scallop’s visibility.
• Sui Basecamp Exhibition Merchandise (May 2025): Scallop participated in Sui Basecamp 2025 in Dubai (May 1-2), distributing branded merchandise to engage the Sui community. This real-world event strengthened community interaction and showcased Scallop’s products, reinforcing its position in the Sui ecosystem.

These collaborations demonstrate Scallop’s commitment to integrating DeFi with real-world applications, from digital identity solutions to community engagement and industry networking.

Scallop, symbolized by SCA, is a pioneering decentralized finance (DeFi) protocol in the Sui ecosystem, recognized for its institutional-grade quality, enhanced composability, and robust security. As the first DeFi protocol to receive an official grant from the Sui Foundation, Scallop has achieved numerous milestones that solidify its position as a leader in peer-to-peer money markets. Below are the key events:

• Sui Foundation Grant : Scallop became the first DeFi protocol to receive an official grant from the Sui Foundation, highlighting its innovative approach and commitment to advancing DeFi on Sui. This grant fueled its early development and ecosystem integration.
• $3 Million Funding Round (March 2024): Scallop raised $3 million in a strategic financing round led by CMS Holdings and 6th Man Ventures, with participation from KuCoin Labs, Blockchain Founders Fund, and others, enhancing its development and market presence.

• Token Generation Event (TGE, March 2024): The SCA token launched with a total supply of 250 million tokens, allocating 45% to liquidity mining, 15% to contributors, and 7.5% to community/marketing efforts, establishing a strong tokenomics foundation.

• Binance-Related Activities :

• Binance Alpha Listing (May 13, 2025): Scallop’s SCA token was listed on Binance Alpha, marking it as the first Sui ecosystem project to achieve this milestone. This listing signifies market recognition of Scallop’s fundamental strength and growth potential, with 40 million SCA tokens locked and nine loyalty programs executed.

• Binance Wallet Integration : Scallop integrated with Binance Wallet, enabling users to interact with Scallop’s lending and borrowing features directly through Binance’s Web3 wallet, enhancing accessibility and user experience. A promotional campaign rewarded participants, with some receiving 36.34 SCA as a minimum reward.

• TVL and Revenue Milestones (2025): Scallop’s total value locked (TVL) reached $130.27 million (34% weekly increase), peaking at $156 million. It recorded $79,920 in 24-hour revenue, ranking second among DeFi lending protocols. Scallop celebrated surpassing $5 million in cumulative revenue with a loyalty program, distributing $200,000 worth of sSCA to veSCA holders and $250,000 worth of sSCA to loyal supporters.
• Partnerships and Integrations (2024–2025): Scallop partnered with Aftermath Finance, Haedal Protocol, FlowX Finance, Typus Finance, KriyaDEX, Binance Wallet, and Sui Name Service (SuiNS), distributing 25,000 SCA to 3-digit SuiNS domain holders. It also listed the Walrus token, expanding its ecosystem.
• Real-World Community Events :
• Sui Basecamp 2025 (May 1–2, 2025): Scallop participated in Sui Basecamp in Dubai, distributing branded merchandise to engage the Sui community, enhancing visibility and community interaction.
• Loyalty and Incentive Programs (2024–2025):
• Scallop celebrated surpassing $5 million in total revenue with a loyalty program, distributing $200,000 worth of sSCA tokens to veSCA holders and $250,000 worth of sSCA tokens to loyal supporters. The rewards were allocated based on veSCA holdings, with daily snapshots taken to determine eligibility.
• The GiveRep Loyalty Campaign (May 2025) rewarded users with SCA for creating X content about Scallop, driving real-world community engagement.
• Weekly incentive programs refreshed rewards, adding assets like sHAEDAL and offering up to 75,000 sSUI, 343,000 sSCA, and 100,000 sHAEDAL, with veSCA boosting rewards up to 4x.
• Exchange Listings (2024–2025): Scallop’s SCA token was listed on exchanges like Coinstore, CoinW, BTSE, Gate.io, LBank, and HTX, with the SCA/USDT pair on Gate.io achieving $964,056.89 in 24-hour trading volume, enhancing liquidity and accessibility.

Scallop’s security is reinforced by audits from OtterSec, MoveBit, and Cetus, alongside a bug bounty program, ensuring platform reliability. Its open-source framework, community-driven initiatives, and strategic partnerships, including with Binance, have solidified its role as a cornerstone of the Sui ecosystem, driving DeFi innovation and user adoption.