Scallop Locks 50 Million SCA Tokens to Boost Lending Rewards

According to Scallop’s official announcement, over 50 million SCA tokens—20% of total and 40% of circulating supply—are locked for an average of 3.71 years, reinforcing long-term user commitment despite market volatility.

SUI

Summary

Scallop confirmed in its latest official statement that the total locked SCA tokens have surpassed 50 million, accounting for 20% of the project’s total supply and 40% of circulating tokens. The average lock-up period is 3.71 years, showing strong community engagement despite broader market downturns. The initiative is driven by incentives offering up to fourfold borrowing rewards, aligning with Scallop’s goal of promoting long-term stability and participation in its ecosystem.

Terms & Concepts
  • SCA Token: The native utility token of the Scallop lending protocol on the Sui blockchain, used for governance, rewards, and ecosystem participation.
  • veSCA: A locked version of SCA tokens that grants enhanced protocol benefits, such as increased borrowing rewards, promoting long-term engagement.
  • Sui Blockchain: A layer-1 blockchain designed for fast and scalable decentralized applications, including DeFi platforms like Scallop.