{"id":15186,"date":"2024-03-11T14:42:46","date_gmt":"2024-03-11T14:42:46","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=15186"},"modified":"2024-03-11T13:35:43","modified_gmt":"2024-03-11T13:35:43","slug":"scallop-protocol-secures-3-million-in-strategic-investment-round","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/scallop-protocol-secures-3-million-in-strategic-investment-round\/","title":{"rendered":"Scallop Protocol Secures $3 Million in Strategic Investment Round"},"content":{"rendered":"

Scallop, the premier money market on the Sui Network, has successfully concluded its Q1 2024 Strategic Investment Round, securing a total of $3 million in raised funds. With the official announcement of their investors, Scallop has unveiled a lineup of Angel Investors boasting some of the most prominent names in the Crypto and NFT spheres.<\/p>\n

Among the notable angel investors are Dingaling and Zeneca, recognized as two of Web3\u2019s foremost NFT whales and influencers. The list also includes VirtualBacon, a Crypto VC investor and YouTuber boasting over 160,000 subscribers, along with Cryptonauts, who command a subscriber base exceeding 100,000. Renowned figures like Mario Nawfal, Alex Kruger, and Anbessa also feature prominently in Scallop’s Angel Investor roster.<\/p>\n

“We are profoundly appreciative of the unwavering support from our investors, which empowers us as a project to expand and introduce more products, positioning us as the leading DeFi project on the Sui Network.”<\/p>\n

About Scallop Protocol<\/span><\/h2>\n

Scallop Protocol places a strong emphasis on institutional-grade quality, enhanced composability, and robust security to construct a dynamic money market offering high-interest lending, low-fee borrowing, AMM, and digital asset self-administration tools on a unified platform. Additionally, Scallop offers an SDK tailored for professional traders. The protocol boasts an average APR of 20% for its primary asset pools.<\/p>\n

As the leading money market on the Sui Network, Scallop Protocol currently boasts a Total Value Locked (TVL) of just over $110 million. Over recent months, Scallop has achieved numerous remarkable milestones, including reaching an all-time high TVL of $156 million, facilitating over $5 billion in total lending and borrowing volume, and handling over $2 billion in Flash Loans volume.<\/p>\n

Scallop Protocol has forged an extensive network of partnerships with projects such as Aftermath Finance, Haedal Protocol, FlowX Finance, Typus Finance, KriyaDEX, OKX Wallet, and many others. Its popularity as a choice for integration and development is evident, as Scallop has been made open-source, facilitating easy building upon the platform for projects within the Sui ecosystem, including Kai Finance and SuiPearl.<\/p>\n

\n

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0Telegram,\u00a0<\/strong><\/a>YouTube<\/strong><\/a>,\u00a0and\u00a0Twitter<\/strong><\/a>\u00a0channels for the latest news and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Scallop, the premier money market on the Sui Network, has successfully concluded its Q1 2024 Strategic Investment Round, securing a total of $3 million in raised funds. With the official announcement of their investors, Scallop has unveiled a lineup of Angel Investors boasting some of the most prominent names in the Crypto and NFT spheres.<\/p>\n","protected":false},"author":6,"featured_media":15187,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,2,5],"tags":[4864],"class_list":["post-15186","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-news","category-project-review","tag-scallop"],"yoast_head":"\nScallop Protocol Secures $3 Million in Strategic Investment Round - Coin Engineer<\/title>\n<meta name=\"description\" content=\"Scallop Protocol secures 3 million dolar investment in strategic investment round. 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