Scallop price

SCA

#924

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’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.

Scallop (SCA) stands out as a decentralized neobank cryptocurrency, revolutionizing the financial landscape by enabling peer-to-peer lending and borrowing on the Sui blockchain. Developed by Scallop Labs, a team with expertise in DeFi, cybersecurity, and fintech, Scallop is supported by notable investors like CMS Holdings and 6th Man Ventures. This project is not just another DeFi protocol; it is the first to receive an official grant from the Sui Foundation, highlighting its institutional-grade quality and robust security.

The platform offers a dynamic money market that integrates high-interest lending and low-fee borrowing, making it an attractive option for both individual and institutional users. Enhanced composability ensures that users can seamlessly interact with various DeFi applications, while the Automated Market Maker (AMM) functionality adds another layer of liquidity and trading efficiency.

Scallop also provides a digital asset self-administration tool, allowing users to manage their assets securely and efficiently. For professional traders, Scallop offers a Software Development Kit (SDK), enabling the creation of customized trading strategies and tools. This comprehensive approach positions Scallop as a versatile and innovative player in the DeFi space, catering to a wide range of financial needs and preferences.

Scallop, with its ticker SCA, stands out in the blockchain landscape by integrating traditional banking services with the dynamic world of cryptocurrency. At its core, Scallop operates on the Sui Network, leveraging the Move programming language. This combination ensures a robust and secure foundation, supported by a team of experienced developers and backed by investors like CMS Holdings and 6th Man Ventures.

The Sui Network, a high-performance blockchain, is designed to handle a large number of transactions efficiently. It achieves this through a unique consensus mechanism that enhances scalability and reduces latency. The Move programming language, developed specifically for the Sui Network, adds an extra layer of security by enabling developers to write more secure and verifiable smart contracts. This is crucial in preventing attacks from bad actors, as Move's design minimizes common vulnerabilities found in other smart contract languages.

In addition to its technical foundation, Scallop combines traditional banking features with cryptocurrency services. This hybrid approach allows users to access high-interest lending, low-fee borrowing, and automated market making (AMM) on a single platform. The platform also offers digital asset self-administration tools, providing users with greater control over their assets. For professional traders, Scallop provides a software development kit (SDK) to facilitate advanced trading strategies.

Security and compliance are paramount in Scallop's design. The platform employs institutional-grade security measures to protect user assets and data. This includes multi-signature wallets, hardware security modules (HSMs), and regular security audits. Compliance with regulatory standards ensures that Scallop operates within legal frameworks, providing users with peace of mind.

Scallop's ERC-20 utility token, SCLP, plays a vital role in the ecosystem. It is used for transaction fees, staking, and governance, allowing token holders to participate in decision-making processes. This decentralized governance model ensures that the community has a say in the platform's development and future direction.

The pioneering nature of Scallop is further highlighted by its status as the first DeFi protocol to receive an official grant from the Sui Foundation. This recognition underscores the platform's commitment to innovation and excellence in the decentralized finance (DeFi) space. By emphasizing enhanced composability, Scallop enables seamless integration with other DeFi protocols, fostering a more interconnected and efficient ecosystem.

Scallop's focus on creating a dynamic money market within the Sui ecosystem is evident in its offerings. Users can lend and borrow digital assets with competitive interest rates, facilitated by the platform's advanced algorithms. The automated market making (AMM) feature ensures liquidity and efficient trading, while the digital asset self-administration tools provide users with the flexibility to manage their portfolios effectively.

The platform's commitment to security extends to its infrastructure, which is designed to withstand various types of cyber threats. Regular security audits and updates ensure that the system remains resilient against potential vulnerabilities. The use of multi-signature wallets and hardware security modules (HSMs) adds an extra layer of protection, safeguarding user assets from unauthorized access.

Scallop's integration of traditional banking services with cryptocurrency features is a testament to its innovative approach. By bridging the gap between these two worlds, Scallop offers users a comprehensive financial solution that caters to both their traditional and digital asset needs. This holistic approach is further enhanced by the platform's focus on security, compliance, and user empowerment.

The Sui Network's high-performance capabilities, combined with the security features of the Move programming language, provide a solid foundation for Scallop's operations. This ensures that the platform can handle a large volume of transactions efficiently, while minimizing the risk of attacks from bad actors. The institutional-grade security measures and compliance with regulatory standards further enhance the platform's reliability and trustworthiness.

Scallop's ERC-20 utility token, SCLP, is integral to the platform's ecosystem. It facilitates transactions, staking, and governance, allowing users to actively participate in the platform's development. The decentralized governance model ensures that the community has a voice in decision-making processes, fostering a sense of ownership and collaboration.

By offering a unified platform that combines high-interest lending, low-fee borrowing, automated market making (AMM), and digital asset self-administration tools, Scallop provides users with a comprehensive financial solution. The platform's focus on security, compliance, and user empowerment sets it apart in the DeFi space, making it a pioneering force in the next generation of peer-to-peer money markets.

Scallop (SCA) is a cryptocurrency with a range of real-world applications, particularly in the decentralized financial (DeFi) sector. It is designed to facilitate lending and borrowing of various cryptocurrencies, providing users with the ability to earn interest on their digital assets. This makes it a valuable tool for those looking to maximize the utility of their cryptocurrency holdings.

One of the key components of Scallop is sCoin, which represents supplies and accrues interest over time. This feature is integral to Scallop's role in the DeFi ecosystem, allowing users to engage in financial activities that were traditionally reserved for centralized institutions. By leveraging blockchain technology, Scallop ensures that these transactions are secure and transparent.

Scallop also serves as the native token on the Scallop Chain, where it is used for transaction fees, management fees, and accessing various rewards. Users can benefit from discounts on the Scallop App, making it a cost-effective option for managing digital assets. The integration with traditional banks further enhances its utility, bridging the gap between conventional finance and the burgeoning world of cryptocurrencies.

The platform is backed by notable investors such as CMS Holdings and 6th Man Ventures, which underscores its credibility and potential for growth. Scallop's team comprises experts in DeFi, cybersecurity, and fintech, ensuring that the platform is built with robust security measures and comprehensive support.

Additionally, Scallop is the first DeFi protocol to receive an official grant from the Sui Foundation, highlighting its pioneering role in the Sui ecosystem. This grant supports the development of a dynamic money market that offers high-interest lending, low-fee borrowing, and automated market making (AMM). The platform also provides a digital asset self-administration tool and an SDK for professional traders, making it a versatile solution for a wide range of users.

By focusing on institutional-grade quality and enhanced composability, Scallop aims to create a secure and efficient financial ecosystem. This makes it a compelling option for anyone looking to participate in the DeFi space, whether they are seasoned traders or newcomers to the world of cryptocurrencies.

Scallop, symbolized by SCA, stands as a pioneering force in the Sui ecosystem, marking its presence with several significant milestones. As the first DeFi protocol to receive an official grant from the Sui Foundation, Scallop has demonstrated its commitment to institutional-grade quality, enhanced composability, and robust security.

One of the notable achievements for Scallop was receiving DeFi project award grants from the Sui Foundation. This recognition underscores the protocol's innovative approach and potential within the decentralized finance landscape. The grant facilitated further development and expansion of Scallop's offerings, reinforcing its position in the market.

Scallop's participation in various Hackathon and Capture The Flag (CTF) challenges has also been a key highlight. Ranking high in these competitive events showcased the protocol's technical prowess and the team's ability to solve complex problems, contributing to the overall credibility and reliability of the platform.

Another significant event was Scallop being featured in the Sui Wallet by Mysten Labs. This inclusion not only increased visibility but also integrated Scallop's functionalities within a broader ecosystem, making it more accessible to users and enhancing its utility.

In addition to these milestones, Scallop has been actively engaging with the community through various events. Upcoming events include an AMA (Ask Me Anything) session, a DEX Wave event, and a Mega Space event focused on Sui DeFi. These events are designed to foster community interaction, provide insights into Scallop's development, and discuss future plans.

Scallop's dedication to building a dynamic money market is evident in its offerings, which include high-interest lending, low-fee borrowing, Automated Market Maker (AMM) functionalities, and digital asset self-administration tools. The platform also offers an SDK for professional traders, emphasizing its commitment to catering to a diverse range of users.

The introduction of Scallop Lend, a feature that allows users to lend their digital assets and earn interest, marked another pivotal moment. This feature not only provided users with an additional revenue stream but also enhanced the overall utility of the platform.

Bug bounty programs have been an integral part of Scallop's strategy to ensure security and reliability. By inviting external developers to identify and report vulnerabilities, Scallop has maintained a high standard of security, which is crucial for gaining user trust and ensuring the platform's long-term success.

Scallop's journey is marked by a series of strategic moves and community-focused initiatives that have solidified its position in the DeFi space. The protocol's continuous efforts to innovate and engage with its community highlight its commitment to building a robust and user-centric platform.