Scallop Protocol Reaches 20% Token Lock-up Milestone, Signaling Strong Community Confidence

The Scallop protocol on the Sui blockchain has hit a significant milestone with over 50 million $SCA tokens locked in the platform – representing 20% of the total supply and 40% of the circulating supply. This demonstrates the unwavering trust and confidence of the Scallopers community in the protocol’s long-term vision, even during current market volatility. This substantial token lock-up showcases the robust lending model and reward structure built into Scallop’s ecosystem. Users lock $SCA to earn veSCA tokens which unlock a 4x increase in borrowing incentives, benefiting both users and the overall ecosystem.