Scallop (SCA)

Scallop (SCA) is a next-generation money market that sets new standards in the cryptocurrency industry. It is built on institutional-grade quality, offering seamless composability and robust security. With its industry-leading model, Scallop provides an optimized approach based on Compound V3 and Solend V2. The platform implements a trilinear interest rate model, collateral/borrow weights, protected collateral vaults, delayed model changes, and soft liquidation. It also offers comprehensive support, including Scallop Tools, UI tools for building programmable transaction blocks, a Typescript SDK for interacting with Scallop, and a Sui Kit for seamless integration using Typescript SDK.

Security is a cornerstone of Scallop’s operations, and the platform ensures users’ peace of mind by prioritizing cybersecurity. The team behind Scallop boasts a background in cybersecurity and CTF challenges, making them well-equipped to safeguard user assets. They leverage Move Language and have established partnerships with security firms such as Zellic, Ottersec, and MoveBit. Scallop adopts a multi-oracle strategy to enhance security and mitigate risks.

Scallop’s lending and borrowing protocol on Sui Network has gained significant recognition and investment support. It has raised $3 million from renowned investors such as CMS Holdings, 6th Man Ventures, Kucoin Labs, and UOB Venture. In addition to OKX DeFi, prominent cryptocurrency exchanges like Bybit, KuCoin, Gate.io, and more have partnered with Scallop. The trust placed in Scallop is a testament to its commitment to security and the team’s dedication to delivering robust and secure products.