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Scallop, a prominent player in the Sui blockchain lending scene, has unveiled a major airdrop campaign. The initiative offers a generous reward pool totaling 1,000,000 SCA tokens. As part of this campaign, Scallop will distribute 200,000 veSCA tokens specifically to its loyal borrowers.
To qualify for the airdrop, users must have engaged in borrowing activities with a minimum amount of $100 USD. The eligibility snapshot is scheduled for September 2nd, with the actual distribution of veSCA tokens set for September 4th. The allocation of these tokens will be proportional to the amount borrowed, potentially boosting APR for SCA rewards by up to four times and SUI rewards by up to two times.
Alongside the airdrop, Scallop is launching a new staking campaign to further incentivize its community. This campaign encourages users to stake their SCA tokens in exchange for veSCA tokens, which are vital for earning additional SCA rewards. With a reward pool of 1 million SCA tokens, the staking campaign runs from September 3rd to September 7th, with daily distributions of rewards.
Participants must hold a minimum of 800 veSCA tokens to qualify for SCA rewards. The campaign offers flexible staking options, ranging from just two days to up to four years. This structure accommodates both short-term participants and long-term investors aiming to maximize their returns.
Scallop’s latest initiatives demonstrate a strong commitment to rewarding its user base and enhancing engagement through strategic token incentives and staking opportunities.