Singapore, Singapore, March 11th, 2024, Chainwire

Scallop, the leading money market on Sui Network, has recently concluded their Q1 2024 Strategic Investment Round to secure a total of $3M in funds raised. Following their official investor announcement, they have just released their lineup of Angel Investors featuring some of the biggest names in the Crypto and NFT space.

Some notable angel investors include Dingaling and Zeneca, two of Web3’s biggest NFT whales and influencers. The list also features VirtualBacon, a Crypto VC investor and Youtuber with over 160K subscribers, as well as Cryptonauts with over 100K subscribers. Big names like Mario Nawfal, Alex Kruger, Anbessa are also featured in their Angel Investor announcement.

“We are extremely grateful for the continuous support provided by our investors, as it enables us as a project to grow and develop more products to become the leading DeFi project on Sui Network.”

About Scallop Protocol

Scallop Protocol emphasizes institutional-grade quality, enhanced composability, and robust security to build a dynamic money market that offers high-interest lending, low-fee borrowing, AMM, and digital asset self-administration tool on a unified platform and offers an SDK for professional traders. Scallop also features an average APR of 20% for our main asset pools.

Scallop Protocol is the leading money market on Sui Network, and is currently sitting at just over $110M in TVL. Over the past few months, Scallop has achieved many incredible milestones, including reaching an all time high TVL of $156M, with over $5 billion in total lending and borrowing volume and over $2 billion in Flash Loans volume.

Scallop Protocol has also formed a wide network of partnerships with projects like Aftermath Finance, Haedal Protocol, FlowX Finance, Typus Finance, KriyaDEX, OKX Wallet and many others. Scallop is also a popular choice to build on and integrate as they have been made open-source, thus allowing for projects on Sui to easily build upon Scallop such as Kai Finance and SuiPearl.

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Joel Chng

Disclaimer: Press release sponsored by our commercial partners.

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