What is Scallop
Everything you need to know about us...
Scallop is an innovative new blockchain powered platform that provides everyday banking accounts that are directly connected to the Defi ecosystem. This seamlessly opens up the doors to the world of Defi to users whilst also providing everyday use as a fiat banking account with some great rewards. Scallop provides all the functionality of the Defi world with none of the complexity.
It's digital money, simplified.
- Payments - Payment gateway service which enables businesses with crypto to fiat on/off ramp in order to receive payments.
- Exchange - Exchange crypto and Defi tokens to fiat and vice versa through a direct link to Uniswap for seamless trading.
- Hardware wallet - Store and trade your crypto using Scallop cold wallets, Scallop cold/hot storages are insured by our partners against loss by up to $100 million
- NFT Marketplace - Buy, sell and leverage digital content using a built-in NFT marketplace.
- Scallop Chain - Scallop plans to connect traditional banks with cross blockchain applications. Institutional partners work directly with Scallop, allowing them to create secure custody services, interest bearing savings accounts, debit cards and a fiat on-ramp to crypto. Scallop chain supports EVM and WASM contracts.
- Accounts - Open GBP and IBAN accounts for daily use, for both personal and business users
- Cards - Virtual and physical spending cards, on the Visa payment network
- Multi-currency Wallet - Store, spend and send 15+ international currencies
- Transfer - Send & Receive money in all major currencies, to anyone, anywhere.
To have all of this in one place is a game changer, anyone can recognise that. There are currently no other projects offering all of this in one place.
How Scallop works
Holders of the SCLP token have the option to stake their coins for rewards.
The App is currently in Beta and is available to all whitelisted users. Scallop will be available in the App store in May 2022 for everyone else. You can join the waitlist and be the first to receive your free Scallop debit card on launch here.
Scallop is uniquely placed amongst its competitors, providing an integrated and simple solution that allows users to benefit from the innovations of the digital money ecosystem without the complications. Scallop is the first service provider that allows users to instantly convert their Cryptocurrencies through their Scallop bank accounts and spend the converted funds directly in either traditional or online marketplaces. This is a unique service that other banking service providers do not address and is a world first. No other application from our competitors currently provides the breadth of services or accessibility of Scallop. Being the first offers Scallop a significant advantage over the competition in becoming the dominant player in the market as we move down the roadmap
Scallop will be powered by its token SCLP which is a utility token based onthe Binance Smart Chain (BSC) network. BSC was chosen because of its ability to integrate with the vast Defi ecosystem.
Some use cases for the SCLP token:
- 1.To pay Exchange/transaction fee
- 2.To pay Monthly management fee
- 3.To pay Institutional management fee
- 4.To pay Bank transfer fee
- 5.To pay Loading & Unloading Fee
- 6.ATM fee
- 7.To pay Token hosting fees
All of these uses create utility which creates demand for the token.
Scallop offers a reward program to Scallop Account holders. The Scallop Token (SCLP) is to be used as a universal reward token for the following Scallop reward programs:
- Crypto Back - from 0.5% to 1% on every in-store purchase paid in SCLP
- Institutional Offers - discount by institution/merchant networks, paid in SCLP
- Travel Offers - up to 1% for eligible foreign transactions paid in SCLP
- Business Rewards - Business incentives for using ARTH Stable coins, paid in SCLP
- Deposit Incentive - Reward 5% in SCLP Token
- Referral Bonus - 20 SCLP tokens when your friend signs up on scallop app
- Sign up Bonus -10 SCLP tokens when you sign up on scallop app
The Scallop app will prepare people for a future where Cryptocurrencies are an accepted part of everyday life. The simple fact is that no other bank or Crypto project offers Scallop’s range of integrated products. Simple, secure and progressive, our platform intends to provide many opportunities to help Cryptocurrency users realise the potential of the digital space and bring Cryptocurrency transactions into the real world.