July

The month of July has been super busy for the whole Scallop team! From the technology development, publications, a series of competitions for our community and an exclusive pre-sale allocation of SCLP for MahaDAO and Scallop communities, we’ve made huge progress towards our product and token launch!

Exclusive Community Pre-Sale Allocation of SCLP Token

As part of a relationship between two forward-thinking, like-minded companies, Scallop announced an exclusive pre-sale private round allocation of the SCLP token for both the MahaDAO and Scallop communities. A pledge form went live from 13th — 31st July, which offered the community members the chance to register their interest ahead of the exclusive round. For the first time, community members were offered the chance to invest at the same stage as Venture Capitalists, with the same terms.

The registrations received were far greater than we had assumed thanks to high interest from both sets of communities. We will be providing an update on the next step shortly for those who have registered.

Community Growth and Competitions

July was a hot month for growth across the Scallop community. Our Twitter following rose from 3000 to 5500+ Followers and our Telegram community increased from 3000 to over 7000 total Members! These were important milestones in our growth roadmap, ahead of the product and token launch.

As a thank you to the community for their ever-wonderful support, Scallop hosted a series of competitions to give back to them — in the form of free SCLP token prizes, as well as a Mega Prize for overall participation, which grants the winner 6 months free Elite Membership with Scallop and a free Hardware Wallet.

So far this month, we’ve completed 4 competitions (Scallop Community Quiz, Share + Like Tweet Competition, Merchandise Design Competition, Meme Competition) giving away a total of $650 worth of SCLP so far.

Technology Development

The tech team has made fantastic progress on the development of Scallop this month:

• API and backend integration of all major functionalities such as bank accounts, wallets and markets.

• Onboarding Process: Integration and APIs for Onboarding process, which includes creating a FIAT account, KYC and software wallet have been completed.

• Transactions: Backend Order processing and transaction handling for FIAT to FIAT and Crypto to Crypto has been completed.

The team is currently working on APIs for transactions, transaction fees and transaction limits.

Publications

callop has been covered across a broad range of publications this month where the key focus was on the SCLP token, Scallop as a DeFi powered Banking-as-a-Service provider and an interview with our CEO Raj Bagadi.

In case you missed any, here’s a full list for you to catch up on:

Business Insider: (How Scallop intends to take on the Global Banking Industry) https://bit.ly/3fmqAkv

Coinspeaker: (Accelerating Future of DeFi with Scallop Chain for Cross-chain Interoperability) https://bit.ly/3yo4c1F

Coinpedia: (Interview with Raj Bagadi, Scallop Founder & CEO) https://bit.ly/3xqowxP

Bitcoinist: (What is the SCLP Token and How Will it Enable the World’s First DeFi Powered Neobank) https://bit.ly/3A5jngt

Coinidol: (Scallop’s SCLP Token is Going Live on Ethereum Network) https://bit.ly/3A3w4Zg