Scallop Price
(SCA)
USD($)
Scallop (SCA) Live Price Chart
Overview
About
Analysis
FAQ
Scallop Live Price Data
The live price of Scallop is $0.2845, with a total trading volume of $ 21,330 in the last 24 hours. The price of Scallop changed by -4.1% in the past day, and its USD value has decreased by -28.77% over the last week. With a circulating supply of 72,050,272 SCA, the market cap of Scallop is currently 20.44M USD, marking a --% increase today. Scallop currently ranks #-- in market cap.
How do you feel about Scallop today?
Note: This data is for reference only.
Scallop(SCA) Profile
Rank--
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Website
Documentation
Explorer
Contract
- Sui Network 0x7016aa...ac6
Audited By
- --
Code & Community
Investors
- --
$0.2776
$0.3410
- ATH
- $1.49
- Price Change (1h)
- +0.56%
- Price Change (24h)
- -4.10%
- Price Change (7d)
- -28.77%
- Market Cap
- $20.44M
- 24h Volume
- $21,330
- Circulating Supply
- 72,050,272
- Max Supply
- 250,000,000
About SCA
How can I buy Scallop (SCA)?
Buying SCA on KuCoin is fast and simple. Create an account, verify your identity, deposit funds, and start your trading. It's that simple! See How to Buy Scallop (SCA) for more information. What Is Scallop (SCA) Crypto?
Scallop (SCA) is a digital asset within the Sui ecosystem, serving as a next-generation peer-to-peer money market. It's a DeFi protocol that has garnered attention for its innovative approach, including securing an official grant from the Sui Foundation. Scallop aims to transform the financial landscape by offering high-interest lending, low-fee borrowing, Automated Market Making (AMM), and digital asset self-administration tools integrated into one platform. It also provides an SDK to cater to the needs of professional traders, ensuring ease of access and convenience across its services.
The Scallop Token (SCA) is the native token of this ecosystem, designed primarily for interoperability within the Scallop platform. It operates on the Sui chain, with a total (maximum) supply of 250,000,000 SCA tokens. The allocation of these tokens is meticulously planned, with 45% dedicated to liquidity mining, 15% to Scallop project contributors, and smaller percentages distributed among development and operations, strategic partners/investors, advisors, and other essential ecosystem components. The release schedule of these tokens is designed to support the long-term liquidity and growth of the Scallop ecosystem, with various lock-up periods and emission rates specified for different stakeholder groups.
Moreover, Scallop has made significant strides within the Sui ecosystem, a blockchain known for its high scalability and low transaction fees, which is ideal for DeFi applications. Scallop was among the first DeFi projects to receive an official grant from the Sui Foundation. It offers a lending protocol that has rapidly grown in popularity thanks to its institutional-grade features and user-friendly interfaces catering to lenders and borrowers. The platform's total value locked (TVL) and lending and borrowing volumes have shown impressive growth, underscoring its rising prominence in the DeFi landscape.
How Does Scallop Protocol Work?
Scallop (SCA) functions as a dynamic and innovative DeFi protocol within the Sui ecosystem. It distinguishes itself through a comprehensive suite of services aimed at transforming the DeFi landscape. Here’s an overview of how Scallop operates based on the information found:
1. Peer-to-Peer Money Market: Scallop is designed as a next-generation peer-to-peer money market on the Sui blockchain, emphasizing institutional-grade quality, enhanced composability, and robust security. This setup enables users to engage in high-interest lending and low-fee borrowing activities directly with one another without intermediaries, enhancing the efficiency and accessibility of financial services.
2. AMM and Asset Management: The protocol incorporates AMM tools and asset management functionalities, allowing for seamless trading and financial management within its ecosystem. This is particularly beneficial for professional traders and users looking for efficient ways to manage their digital assets.
3. Software Development Kit (SDK): Scallop provides an SDK tailored for professional traders, enabling them to implement complex trades, including zero-interest loans, with ease. This feature is powered by the programmable transaction capabilities of the Sui Blockchain, facilitating a wide range of financial operations with minimal coding effort.
4. Innovative Financial Instruments: The protocol introduces several financial innovations, such as mixed asset pools, isolated pools, and the ability to take out flash loans. These tools provide users with flexibility in asset management and short-term financing options, catering to various financial needs and strategies.
5. Security and Trust: Prioritizing security, Scallop adheres to best practices to mitigate risks of malicious behavior. It employs a trustless system to prevent undue influence or control by any single entity. Regular security audits and a bug bounty program are part of its commitment to maintaining a secure platform for its users.
6. Role in the Sui Ecosystem: As a recipient of an official grant from the Sui Foundation, Scallop plays a crucial role in enriching the Sui ecosystem. It aims to support the network's growth by providing comprehensive DeFi services, thereby contributing to the overall development and adoption of the Sui blockchain.
When Was Scallop (SCA) Coin Launched?
Scallop (SCA) on the Sui network has marked its presence as a pioneering and leading DeFi protocol with commendable achievements and rapid growth since its inception. Here's a summary of Scallop's history, background, and key milestones:
1. Foundational Achievements: Scallop was the first DeFi project to receive an official grant from the Sui Foundation in November 2022, highlighting its innovative approach and potential within the Sui ecosystem.
2. Hackathon Successes: Demonstrating its technical prowess and innovative solutions, Scallop secured first-place wins in notable competitions:
> Sui Builder House Seoul Hackathon in June 2023, focusing on Scallop Tools.
> Move Hackathon by WebX Circle track in July 2023, showcasing its commitment to leveraging the Move language for DeFi solutions.
3. Additional Recognitions: In addition to its first-place finishes, Scallop also achieved third place for Best Overall in the Sui x KuCoin Labs Summer Hackathon and the Sui x jump_ Builder House Ho Chi Minh City CTF challenge in 2023, along with fifth-place finishes in other competitive events.
4. Funding and Investment Rounds: Scallop Protocol has successfully raised a total of $3M through various investment rounds, including a strategic investment round in Q1 2024 co-led by CMS Holdings and 6th Man Ventures. This round saw participation from a broad range of investors, underlining the broad support and confidence in Scallop's vision and roadmap.
5. Mainnet Launch and Growth: Launching its mainnet on Sui in July 2023, Scallop quickly became popular for its user-friendly interface, innovative functionalities, and high level of security. It achieved a remarkable all-time-high TVL (Total Value Locked) of $156M and became the top DeFi protocol on the Sui Network in terms of lending and borrowing volume.
6. Feature Development and Partnerships: With the new funding, Scallop aims to scale its operations and introduce new features to enhance user experiences. Among its developments are a Flash Loan SDK and Scallop Swap powered by Aftermath Finance. Scallop has also established partnerships with several projects within the Sui ecosystem, further integrating its services and expanding its user base.
7. SCA Token Launch: Scallop Protocol launched its native governance token, SCA, in Q1 2024. This launch represents a significant milestone in Scallop's development trajectory.
How to Use SCA Token
The Scallop (SCA) token is the Scallop Protocol's main governance and utility token. It serves as a medium of exchange within the Scallop ecosystem, incentivizing participation and contribution. Holders can stake SCA to receive veSCA, impacting governance and earning potential.
Trade Scallop token against other cryptos on the KuCoin Spot Market to profit from changing market conditions and volatility. Buy or sell $SCA or hold the token long-term if you believe in the future potential of the Scallop protocol. Ensure that you undertake new trades in the crypto market only after doing your own research (DYOR).
Scallop (SCA) Price Movements ($)
| Period | Change | Change (%) |
|---|---|---|
| Today | $-0.0106 | -3.59% |
| 7 Days | $-0.1135 | -28.54% |
| 30 Days | $-0.1774 | -38.44% |
| 3 Months | $-0.0993 | -25.89% |
24H Investment Barometer
24H
- Strong Buy
- The Investment Barometer represents the current sentiment of the majority of KuCoin users. It is based on multiple indicators, and can be used as an aspect to take into consideration when planning investments.
Strong SellSellNeutralBuyStrong Buy
Scallop Conversion Rate
FAQ
How much is 1 Scallop (SCA) worth?
KuCoin provides real-time USD price updates for Scallop (SCA). Scallop price is affected by supply and demand, as well as market sentiment. Use the KuCoin Calculator to obtain real-time SCA to USD exchange rates. Is Scallop (SCA) a Good Investment?
Investing in Scallop (SCA) offers potential benefits, such as exposure to a platform integrating DeFi and traditional banking, potentially leading to a broader adoption and increased demand for SCA tokens. Scallop's partnerships and product launches may enhance its ecosystem's growth, increasing token utility and value.
Participation in a project focusing on innovation and financial inclusion also offers investors a chance to contribute to the evolution of fintech and blockchain technology. However, like any investment, conducting thorough research and considering the risks involved is essential.
What Is Scallop Crypto Price Prediction?
Investing in Scallop (SCA) on the Sui blockchain presents several advantages due to its innovative DeFi protocol features. Thanks to Sui's infrastructure, these advantages include participation in a decentralized finance ecosystem with high scalability and low transaction fees.
Scallop's focus on institutional-grade security, enhanced composability, and a wide range of financial services such as lending, borrowing, and AMM could offer investors access to diversified DeFi strategies and potential yields. Additionally, governance rights through veSCA staking may empower investors with decision-making influence over the protocol's future developments.
How to Earn on Scallop Protocol
Here are two ways to potentially earn on Scallop (SCA):
1. Staking $SCA: Scallop offers a staking program where you can lock up your SCA tokens for a certain period to earn rewards. The longer you lock your tokens, the greater your rewards will be. There's a minimum staking period of 2 days and a maximum of 4 years.
2. Lending and Borrowing: Scallop functions as a peer-to-peer money market. You can lend out your crypto holdings to earn interest or borrow crypto if needed. While you can earn interest on lending, you must know the potential risks of lending cryptocurrencies, such as borrower default.
How to Participate in Scallop Airdrop
The Scallop (SCA) airdrop event is designed to reward the Scallop community and is divided into two phases:
1. Phase 1 targets early supporters with activities prior to the announcement, offering rewards based on past engagement.
2. Phase 2 focuses on continued participation, targeting borrowers and lenders on the Scallop platform from mainnet launch until Phase 2 starts and continuing thereafter.
The process includes accumulating points through these activities, which can then be converted into Mystery Pearls on the Scallop Airdrop page. These pearls determine the amount of $SCA tokens you'll receive.
Additionally, holding a specific amount of coins or engaging more actively as lenders and borrowers could qualify users for points, emphasizing financial interactions within the project. To claim $SCA tokens, you must have a SUI wallet and have engaged in any phase of the campaign.
What is the all-time high price of Scallop (SCA)?
The all-time high price of Scallop (SCA) is $1.4800. The current price of SCA is down 80.89% from its all-time high.
What is the all-time low price of Scallop (SCA)?
The all-time low price of Scallop (SCA) is $0.1526. The current price of SCA is up 86.45% from its all-time low.
How much Scallop (SCA) is there in circulation?
As of 12 22, 2024, there is currently 72,050,272 SCA in circulation. SCA has a maximum supply of 250,000,000.
What is the market cap of Scallop (SCA)?
The current market cap of SCA is $20.44M. It is calculated by multiplying the current supply of SCA by its real-time market price of $20.44M.
How do I store Scallop (SCA)?
You can securely store your Scallop in the custodial wallet on the KuCoin exchange without having to worry about managing your private keys. Other ways to store your SCA include using a self-custody wallet (on a web browser, mobile device, or desktop/laptop computer), a hardware wallet, a third-party crypto custody service, or a paper wallet.
How do I convert Arbitrum (ARB) to cash?
You can instantly exchange your Arbitrum (ARB) for cash using KuCoin's Fast Trade feature. This feature enables you to convert ARB to your local fiat currency in just a few clicks. However, make sure to complete Identity Verification first to enjoy all the features you may need.