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Scallop
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Overview

Description

Scallop is the pioneering Next Generation peer-to-peer Money Market for the Sui ecosystem and is also the first DeFi protocol to receive an official grant from the Sui Foundation. By emphasizing institutional-grade quality, enhanced composability, and robust security, they're dedicated to building a dynamic money market that offers high-interest lending, low-fee borrowing, AMM, and digital asset self-administration tool on a unified platform and offering an SDK for professional traders. Scallop is airdropping SCA tokens to various early users. Lenders and borrowers, Zealy participants, Sui Scalloper roles on Discord and active members of the community (Twitter, Discord and Telegram) are eligible for the airdrop. Users who are eligible have received points in the form of Pearls, which can now be converted to SCA tokens.

Step by Step Guide

  1. Visit the Scallop website
  2. Connect your Sui wallet.
  3. You will need some SUI and/or other tokens. You can get them on Binance.
  4. Now go to lending and supply tokens
  5. Also, try borrowing some tokens by providing collateral.
  6. Apart from the mentioned APY, participants will also earn SUI tokens from the Scallop Incentive
  7. They’ve confirmed the launch of the SCA token and have confirmed to airdrop to early lend & borrow
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