Since the launch of SUI’s incentive program, the ecosystem’s Total Value Locked (TVL) has surged, breaking the $600 million mark. According to DeFi Lama, SUI currently holds the 10th position in TVL among public blockchains. Notably, within the SUI ecosystem, Scallop has emerged as the leading project with a TVL of $150 million, constituting 26.31% of the total. What sets Scallop apart in this fiercely competitive landscape?
Product Highlights
At the product level, Scallop demonstrates a keen understanding of diverse user needs. For professional traders, Scallop provides a feature-rich Software Development Kit (SDK), enabling traders to implement customized transactions with just a few lines of code. Simultaneously, the Scallop Tool empowers users to execute multiple transactions in a single interface, ensuring a convenient operational experience.
Scallop V1 adopts the Compound V3+ Euler +Solend V2 model, where the liquidation and risk management modules offer distinct advantages, ensuring a high level of security for user assets.
Free Flash LoansIn contrast to other lending protocols, Scallop stands out by offering fee-free flash loan services, providing users with swift and cost-effective borrowing options.
While each product boasts unique strategies and design highlights, introducing novel innovations at the product level might pose challenges with a lower probability of replication. Consideration could be given to exploring innovative approaches at the operational level as an alternative avenue for differentiation and growth.
Operational Strategies
Anticipated AirdropsScallop has proactively unveiled its economic model, outlining plans for the issuance of a total supply of 250 million $SCA tokens. These tokens are earmarked for various purposes, including liquidity mining, rewarding early contributors to the Scallop ecosystem, and facilitating marketing initiatives. This early disclosure of the tokenomics underscores Scallop’s commitment to transparency and strategic planning on the operational front.
To date, Scallop has conducted two phases of airdrop campaigns, enhancing user engagement and community participation.
Marketing Activities
Since the end of 2022, Scallop has actively participated in various security competitions and international hackathons hosted by Sui and Move. The noteworthy achievements reflect Scallop’s excellence in technological innovation and collaborative teamwork:
First place in the Circle Award at Move Hackathon.
Third place in the SUI x Kucoin Labs Summer Hackathon.
Third place in the SUIi x Jump_Builder House Ho Chi Minh City CTF Challenge.
Fifth place in the SUI Builder House Denver CTF Challenge.
First place in the SUI Builder House Seoul Hackathon.
Beyond offline visibility, Scallop leaves no stone unturned in online promotion. Collaborating with the growth platform TaskOn, Scallop has initiated joint activities, recognizing the potential to maximize audience reach through partnerships with Web3 growth platforms. This strategic collaboration taps into the native user base of Web3 platforms, facilitating rapid expansion and broadening the audience base in a short span.
Scallop’s success not only stems from outstanding product design but is also attributed to the adept execution by the operations team and proactive promotional collaborations. While adjusting plans at the product level might take time, starting from the operational level proves to be a wise choice for swift and effective growth.
