What is SCA

Introduction to SCA

Scallop (SCA) is an innovative blockchain token within the Sui ecosystem, marking the beginning of the next generation peer-to-peer money market in Sui. As the first DeFi protocol to receive official funding from the Sui Foundation, Scallop is more than a financial tool; it showcases its unique ecological value and strategic position through close integration with the platform and community.

Scallop promotes diverse financial activities based on the token, including derivative trades like futures contracts, while supporting spot trading on the MEXC exchange with extremely low trading fees. Additionally, Scallop is committed to the growth of the community and developers, enhancing user engagement and network activity through ecosystem funding programs and providing real-time token data and trading tools.

With its advanced financial tools and strategies, such as lending, lending derivatives, Sui PTB building tools, flash loans, and SDKs and UIs for trading and bridging operations, Scallop establishes new industry standards. These tools not only offer seamless composability, transparency, and robust security but also ensure its leading position and wide application potential in the fintech field.

What are the specific issuance and distribution mechanisms of the Scallop (SCA) token?

Token Name: Scallop Token

Ticker: SCA

Chain: Sui

Contract Address: 0x7016aae72cfc67f2fadf55769c0a7dd54291a583b63051a5ed71081cce836ac6::sca::SCA

Total Supply (Max): 250,000,000

 

The distribution mechanism of the SCA token covers multiple areas, ensuring broad participation and sustained development of the protocol. Liquidity mining, the highest proportion, accounts for 45%, distributed through various liquidity incentivization schemes to encourage users to provide liquidity to the network.

Project contributors hold 15% of the tokens, which belong to founding team members. Development and operations are allocated 4%, supporting daily technical development and operational activities. Additionally, strategic partners and investors reserve 15% for private funding and establishing strategic partnerships.

To support the growth of the ecosystem, community, and marketing, 7.5% is allocated to these areas. Liquidity reserves account for 5%, specifically for enhancing market liquidity. Finally, 7% is reserved for the treasury, fully unlocked at the token generation event to provide long-term liquidity.

Regarding token release, liquidity mining tokens are released monthly, with each release being 1.5% less than the previous month. Project contributors’ tokens are locked for one year, followed by a linear unlock over three years. Advisors’ tokens also have a one-year lock period, followed by a three-year linear unlock. Development and operations funds are linearly unlocked over five years, and ecosystem/community/marketing funds over five years as well.

SCA tokens are multifunctional, not only used for governance voting but also providing practical benefits, such as discounts on borrowing interest fees. The Scallop protocol also employs a trilinear interest rate model, optimizing market stability and responsiveness to market conditions. This comprehensive economic design ensures that Scallop (SCA) tokens hold a central position and wide application within the Sui ecosystem.

Official Links of SCA

Website: https://scallop.io/

Twitter: https://twitter.com/Scallop_io

Discord: https://discord.com/invite/F7umecFArJ

Telegram: https://t.me/scallop_io

Analysis of Cryptocurrency Derivatives Trading Supported by Scallop (SCA)

Scallop (SCA) offers a variety of cryptocurrency derivative trading options on its trading platform to accommodate the needs of different investors and market changes. Spot trading is a basic function of the Scallop Exchange, allowing users to buy and sell cryptocurrencies directly for instant asset exchange.

Beyond spot trading, Scallop also offers futures trading services, a financial tool based on predictions about the future prices of cryptocurrencies. Through futures contracts, users can lock in future purchase or sale prices, thus mitigating the uncertainty caused by price volatility.

Scallop's perpetual contracts are a special type of derivative that, unlike traditional futures, do not have an expiration date, providing greater flexibility and a continuous market pricing mechanism. These contracts are suitable for investors who wish to maintain positions long-term but also require vigilance to manage potential high risks.

Before participating in these derivative transactions, users must register and complete necessary identity verification on Scallop Exchange. Trading futures and perpetual contracts typically involves the use of leverage, which means investors can amplify their trading volume but also increase their risk. Therefore, familiarity with various risk management strategies and tools, such as stop-loss and take-profit orders, is essential for successful trading.

Unique Advantages of Scallop (SCA) in the Sui Ecosystem

Scallop (SCA) offers several distinctive features within the Sui ecosystem that set it apart from other cryptocurrencies. First, Scallop contracts support up to 200 times leverage, allowing investors to control large-scale trades with small amounts of capital, significantly increasing profit potential under controlled risk.

Additionally, Scallop introduces comprehensive spread trading contracts, giving traders more strategic choices and operational flexibility. Investors can execute more refined trading strategies based on market changes and personal preferences, optimizing their investment portfolios.

Another major advantage of Scallop is its deep integration with the Sui ecosystem. More than just a trading platform, Scallop is closely integrated with other financial services and features of Sui, such as swaps, lending, and derivatives, providing users with a one-stop financial service solution.

In terms of technical support, Scallop offers various tools and SDKs, such as a UI tool for building Sui programmable transaction blocks and a TypeScript SDK for interacting with Sui. These tools support developers and users in effectively utilizing the Scallop platform and Sui ecosystem.

In terms of security, Scallop is operated by a professional team with a background in cybersecurity and CTF challenges, built using the Move language, and partners with multiple security allies such as Zellic, Ottersec, and MoveBit to ensure the solidity and reliability of its protocols. Through these security measures, Scallop ensures the safety of users' funds and enhances trust in the platform.

These unique technical features and deep ecosystem integration give Scallop significant competitive advantages in the cryptocurrency market, especially in offering high leverage and highly customized financial products.

Steps to Buy SCA on LBank

Purchasing SCA tokens on the cryptocurrency exchange platform LBank is straightforward. Here's a step-by-step guide:

1. Log into your account: Ensure you're registered and logged into your LBank account, then click the "Trade" option in the top menu bar to start the trading process.

2. Search for SCA: Use the search function within the trading platform to find "SCA", locate the trading pair, such as SCA/USDT, and click to enter its dedicated page.

3. Place an order: In the SCA/USDT trading page's spot trading area, enter the amount of SCA you wish to buy. If you want to complete the purchase immediately at the current market price, select a market order and then click the "Buy" button.

4. Confirm the order: A confirmation window will pop up. After verifying the order details are correct, confirm to place your order. Once the transaction is successful, the purchased SCA will automatically be deposited into your LBank spot wallet.

Buy Now: https://www.lbank.com/trade/sca_usdt