June
We have another project update for our wonderful community! We have also decided that we will now definitely make this a bi-weekly event! We feel this is extremely important in the startup world where there exists a great deal of asymmetric information between investors and projects. We believe it’s a great way to interact with the community and offer regular insight into the project. This allows you all to keep up to date about what the team are working on and the direction in which the project is going.
The last fortnight has been extremely busy for the Scallop team. We’ve been working on all components of the project, including the finalisation of the UX and onboarding protocols for Scallop. Here’s a look into what we’ve been getting up to …
Onboarding Process: Integration and APIs for the Onboarding process, which includes creating a FIAT account, KYC and software wallet have been completed.
UI Designs and frontend integration is a work in progress.
Transactions: Backend Order processing and transaction handling for FIAT to FIAT and Crypto to Crypto has been completed.
FIAT to Crypto is a work in progress.
Market: Backend Integration of live Market rates for various cryptocurrencies has been achieved.
DeFi: Backend programming for “Borrow” functionality has been completed, currently testing is in progress.
Each part of these functions requires collaboration across multiple teams and external advisors. As stated in our first project update, each component of our roadmap is subdivided into sprints and agile methodologies, which is reflected in the work achieved this fortnight.
Community:
We have made tremendous progress over the last fortnight in community growth.
From 2400 Telegram members, we are now at 4300 members
From 2800 Twitter followers, we are now at 3950 followers
We are extremely pleased with this progression and are thankful to our community for this achievement. With your continuous support, we hope to grow further and achieve greater milestones.
Competitions:
This week we announced the start of a series of giveaway competitions that will be hosted on Scallop’s Twitter and Telegram channels. This is a small token of our appreciation for the community. Free scallop tokens and Hardware Wallets are all up for grabs! We hope you will enjoy the competitions and we encourage everyone to participate.
See you in two weeks for another update!
Thank You,
Team Scallop
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