What is SUI

1. Project Introduction
Scallop (SCA) is a decentralized money market based on the Sui blockchain, dedicated to providing a Defi experience of institutional-grade quality, enhanced composability, and robust security. As the first DeFi project to receive an official grant from Sui, Scallop allows users to engage in financial activities such as high-interest lending and low-fee borrowing. The platform's smart contracts have been audited by well-known firms such as OtterSec and MoveBit to ensure users can operate in a secure and transparent environment, thus reinforcing its credibility and stability within the blockchain community.
Summary: Scallop has drawn the attention of the Sui ecosystem with its high-yield peer-to-peer lending services and strong security, becoming the first DeFi protocol to receive funding from the Sui Foundation. Therefore, it is worth noting.
2. Team & Investment Info
Scallop is led by founder and CEO Kris (Shyh-Shiuan Lay), who has over six years of experience in web application security, development, and cryptocurrency. Kris began Ethereum mining in 2017, completed the EC-Council's Certified Ethical Hacker program in 2021, and founded Scallop the same year. Project advisor Mr. Block is a KOL and angel investor from Taiwan and specializes in blockchain and cryptocurrency education, community building, tokenomics design, and project consulting.
Funding: On March 3, 2024, Scallop announced the completion of a $3 million strategic funding round primarily led by THE CMS and 6MV with investments from well-known institutions such as KuCoin Labs, 7UpDAO, and Side Door Ventures. In addition, Scallop received one of the first DeFi grants from the Sui Foundation and has won awards in several hackathons and CTF competitions.
3. Social Media URLs
X: https://x.com/Scallop_io
Telegram: https://t.me/scallop_io
Discord: https://discord.com/invite/F7umecFArJ
Medium: https://medium.com/scallopio
4. Token Info
Token Symbol: SCA
Total Supply: 250,000,000
Token Type: SUI
Issuance/Burn Mechanism: Fixed supply
Contract Address: 0x7016aae72cfc67f2fadf55769c0a7dd54291a583b63051a5ed71081cce836ac6::sca::SCA
Token Distribution:
Liquidity Mining: 45%
Core Contributors (Founding Team Contributors): 15%
Development & Operation: 4%
Advisor: 1.5%
Strategic Investors & Partners:15%
Ecosystem/Community/Marketing/Airdrop: 7.5%
Liquidity: 5%
Treasury: 7%
5. Related Links
Official Website: https://scallop.io/
LinkedIn: https://www.linkedin.com/company/scallopio/
Other Info: https://docs.scallop.io/

Note: The project introduction comes from the materials published or provided by the official project team, which is for reference only and does not constitute investment advice. HTX does not take responsibility for any resulting direct or indirect losses.