The age of exploration in the Sui ecosystem has come, and after Scallop took the lead, Binance Alpha launched 4 projects at once. My private chat with Hedda @Rav_Hedda accurately hit all the tokens; I even thought our chat records were being monitored by Binance's listing team. I secretly tell everyone that another token that hasn't launched is $SEND, which will eventually go live, and projects that have already launched Alpha will definitely have the opportunity to go live on the spot market.
Scallop @Scallop_io has always been a team I really like, and I was lucky to have a pleasant exchange at Suibasecamp with their team, meeting their young and handsome CMO @0x_ZHUANG. My connection with Scallop started as one of the first users, having 8 accounts that received their airdrop, and I have also made money through investing in $SCA.
With the launch on Binance Alpha, I feel it's necessary to formally introduce this to everyone.
➤ The brilliance of Scallop
- Official recognition: The first DeFi protocol to receive official funding from the Sui Foundation
- Financial scale: $190M TVL historical peak (Scallop has also been a leader in the Sui ecosystem for some time)
- Profitability: Total revenue exceeds 5.15 million USD (the project's cash flow is strong; when Walrus launched, its daily revenue in the lending sector was second only to AAVE)
- Top institutional support: Backed by CMS Holdings, 6th Man Ventures, DWF Labs, Mysten Labs, Sui Foundation, Kucoin Ventures, UOB Management Ventures
➤ Why choose Scallop?
Scallop has chosen a different route from other lending platforms; the interface and interaction are very comfortable, with a special focus on rewarding the community and providing high interest rates to loyal users, constituting a very important part of their economic model and serving as their moat.
- Generous revenue sharing: Provides revenue sharing through loyalty programs, rewarding $SCA stakers (typically worth around 100,000 to 200,000 USD).
- Ongoing community incentives: Completed 9 loyalty programs (worth 1 million USD in $SCA rewards to the community)
- Highly attractive yields: Offers the highest yields for lending and even higher yields for borrowing
- One-stop DeFi experience: Lending-centered model, yet almost has all the necessary functionalities (lending, borrowing, swapping, cross-chain), all of which can be done in Scallop
- Strong community confidence: 40.35 million locked for 3.77 years (38.52% of circulating supply is locked). The community's strong confidence is also due to the yield boosts from lending and airdrops, which provide tangible returns.
➤ What is the economic model of SCA?
Scallop's token $SCA has a cleverly designed economic model, with staking to obtain veSCA unlocking various benefits.
- Enhanced lending rewards: veSCA users can enjoy higher lending yield boosts.
- Enhanced referral rewards: Referring new users to join Scallop can earn more generous rewards.
- Exclusive loyalty program (airdrop): Stakers are eligible to participate in the platform's exclusive loyalty program and receive additional airdrop rewards.
Yield boosts, referral rewards, and airdrops are all practically calculable. Previously, USDC could have its veSCA yield boost raised up to 4 times, significantly increasing returns. This means the more you participate, the more you earn, encouraging long-term involvement.
Summary:
With the continuous prosperity of the Sui ecosystem, Scallop, as a star DeFi protocol within the Sui ecosystem, has official recognition, financial strength, excellent profitability, and endorsements from top institutions, showcasing tremendous development potential. More importantly, Scallop always prioritizes community interests, successfully building strong user loyalty and community consensus through innovative loyalty programs and high yield returns, sharing the platform's growth dividends.
