This is a general announcement and marketing communication. Products and services referred to here may not be available in your region.
Binance Wallet is excited to launch a campaign with Scallop, where eligible users can earn multiple rewards:
Exclusive Rewards: $250,000 USDC in boosted APR rewards on Scallop USDC Pool;
Exclusive Rewards: $50,000 $SCA Rewards.
Promotion Period: 2025-03-26 00:00:00 to 2025-04-24 23:59:59 (UTC)
Promotion A: Supply USDC to equally share $50,000 in $SCA rewards with Scallop!
During the promotion period, eligible users who supply at least 25 USDC to Simple Yield Scallop Pool can equally share a $50,000 in $SCA rewards.
Promotion B: Supply USDC on Simple Yield Scallop Pool and Share $250,000 USDC rewards for 30 days!
During the promotion period, all users who supply at least 25 USDC in Simple Yield Scallop USDC pool* via Binance Wallet can share a total prize pool of $250,000 in USDC. The daily prize pool values $8,333.3.
*Once successfully supplied, you'll receive sUSDC on the Sui Chain in your wallet.1 USDC is approximately equal to 0.97 sUSDC.
Notes:
APR is calculated based on the TVL and updated hourly. Historical APR doesn't refer to future returns and is for reference only.
Individual daily rewards are calculated based on the proportion of their assets relative to the total amount in the Binance wallet.
Maximum duration of supply for Promotion B is 30 days.
For example, if a user supplies 1,000 USDC, and the daily TVL growth in the promoted pool on Binance Wallet is 10,000 USDC, the daily prize pool is $8,333.3, the user’s estimated daily reward will be: 1,000 USDC ÷ 10,000 USDC x $8,333.3 = $833.3 USDC
How to Participate:
Update your Binance App to the latest version;
Login with Binance Wallet - [Earn] - [Simple Yield] - [Protocol] - [Scallop] - [USDC] ;
Supply a minimum of 25 USDC on Simple Yield Scallop USDC Pool.
* Learn How to Supply USDC on Scallop via Binance Wallet.
Notes:
Only users who complete the requirements above are eligible to receive rewards.
Only users who participate with backed-up Binance MPC Wallet will be eligible for rewards.
Only supplied USDC in the Binance Wallet - [Earn] - [Simple Yield] - [Protocol] - [USDC] - [Scallop] during the campaign period will be considered in the reward calculations.
Users who qualify for Promotion B will also be eligible for Promotion A automatically.
Users are able to redeem their USDC on Scallop's dApp. Please follow Scallop’s official Discord for more information.
Binance will use real-time SCA/USD exchange rate for Promotion A reward distribution. All rewards will be distributed on the Sui chain within 4 weeks after the activity ends. You can view your reward history in the Binance Wallet by navigating to Discover > Airdrop Zone > Rewards > Details.
Total USDC supplying amount during the promotion period = Total supplied amount of USDC - Total redeem amount of USDC - Total withdrawal amount of USDC from Binance Wallet.
Rewards will not be distributed to users who delete or deactivate their Binance Wallets.
The total prize pool for this activity is inclusive of gas fee that may incur during the distribution of rewards.
The relevant terms and conditions apply. Please ensure you have reviewed and understood the terms and conditions.
What is Scallop?
Scallop is a peer-to-peer Money Market for the Sui Ecosystem, and is the first DeFi protocol to receive an official grant from Sui Foundation. Scallop emphasises on providing institutional-grade quality, enhanced composability, transparency, and robust security. Scallop currently offers features including Lending/Borrowing, Lending Derivatives, Sui PTB Building Tools, Flash Loans, UI for Swaps and Bridges, and many more.
Terms & Conditions:
These terms and conditions (“Activity Terms”) govern your participation in this Scallop activity (“Activity”). By participating in this Activity, users agree to these Activity Terms, and the following additional terms: (a) Binance Terms and Conditions for Prize Promotions; (b) Binance Terms of Use; and (c) Binance Privacy Policy; all of which are incorporated by reference into these terms and conditions.
In the case of any inconsistency or conflict between these Activity Terms, and any other incorporated terms, Binance reserves the right in its sole power and discretion to determine the correct interpretation of any potentially inconsistent or conflicting terms.
Only users from qualified regions who click the [Join Now] button on this page, complete KYC and hold an active Binance Wallet shall be eligible for any rewards.
Rewards will not be distributed to users who delete or deactivate their Binance Wallets.
Binance reserves the right to disqualify a user’s reward eligibility if the account is involved in any dishonest behavior (e.g., wash trading, illegally bulk account registrations, self dealing, or market manipulation).
Binance reserves the right at any time in its sole and absolute discretion to determine and/or amend or vary these Activity Terms without prior notice, including but not limited to canceling, extending, terminating or suspending this Activity, its eligibility terms and criteria, the selection and number of winners, and the timing of any act to be done, and all users shall be bound by these amendments.
Binance shall not be liable for any losses or damages users may incur as a result of their participation in the event and/or use of the services.
There may be discrepancies in the translated version of this original article in English. Please reference this original English version for the latest or most accurate information where any discrepancies may arise.
Binance reserves the right in its sole discretion to amend or cancel this announcement at any time and for any reasons without prior notice.
Disclaimer
Binance Wallet is an optional product. It is your responsibility to determine if this product is suitable for you. Binance is not responsible for your access or use of third-party applications (including functionality embedded within the Binance Wallet) and shall have no liability whatsoever in connection with your use of such third-party applications, including, without limitation, any transactions you dispute. Please carefully review the Binance Wallet Terms of Use and always do your own research.
USDC is an e-money token issued by Circle Internet Financial Europe SAS (https://www.circle.com/). USDC’s whitepaper is available here. You may contact Circle using the following contact information: +33(1)59000130 and [email protected].
Holders of USDC have a legal claim against Circle SAS as the EU issuer of USDC. These holders are entitled to request redemption of their USDC from Circle SAS. Such redemption will be made at any time and at par value.
