New Year’s Message from our CEO

To my colleagues and our community,

2021 will undoubtedly be characterised by the perpetuation of the pandemic; however it will also be characterised by great resilience and strength shown globally from governments, corporations and individuals to combat COVID-19 and restore some normality back into our daily lives. In this challenging environment, we still accomplished important objectives and reached key milestones, together. A key highlight includes Scallop’s $2.5m seed round raise which actualised our ability to carry out our vision to ‘Accelerate the transition to a more decentralised and equitable financial future’. An important aspect of this was the successful first-ever Initial Blockchain Offering (IBO) for the SCLP token on MahaStarter — a brilliantly innovative work by all those involved. We have seen great support for SCLP, with 1.2 million tokens staked to date. With this financial capability, we were able to fulfil significant product milestones on our roadmap, notably, an MVP, Alpha and Beta Launch. I’m proud of the progress made in our Soft Launch as we opened the world’s first DeFi Banking Accounts for whitelisted users across the EU. These are significant steps of progress. I sincerely thank our people for their outstanding work. In addition to this, our physical presence increased, as we became Platinum Partners of TOKEN 2049 London, as well as partnering at the 17th Anniversary Ritossa Family Office Summit in Dubai. We will be making a purposeful effort to attend more blockchain and DeFi events in the next year as we seek to make greater meaningful connections with the global cryptocurrency and blockchain communities. As the end of year approaches we know there will be many challenges ahead. But we are so excited for all that 2022 has in store for us — enthusiasm and anticipation are building around new opportunities and new milestones for Scallop. In 2022, we look forward to a Full Product Launch in the EU a amongst many other developments. Scallop’s utmost priority in 2022 is to work in concert with regulators to expand into more countries in a fully compliant manner. We are working hard to be prepared for what lies ahead. Thank you for your continuous support — we look forward to the joint path ahead.

Wishing you all a very Happy New Year! Sincerely Yours, Raj K Bagadi