- Campaign #1: Scallop Borrowing Airdrop
- Campaign #2: Scallop Staking Airdrop
- How to Boost Your Rewards on Scallop
Scallop, a decentralized money market platform, has unveiled high-anticipated details of its airdrop campaign, which has set aside a community prize pool of 1,200,000 $SCA tokens.
Campaign #1: Scallop Borrowing Airdrop
In the first campaign of Scallop’s airdrop, participants will stake their SCA to receive veSCA tokens, enabling them to earn up to a 4x boost on SCA rewards.
The goal of the first airdrop campaign is to distribute veSCA by increasing its holdings to boost incentive rewards. The three primary reasons for holding veSCA include:
* Boosted Borrowing APR on Scallop * Referral Rewards * Loyalty Programs
To participate in this campaign, borrow over $100 on the platform. The amount of veSCA distributed will depend on the value borrowed.
| Total veSCA amount | Snapshot Date | Distribution Date | | --- | --- | --- | | 200,000 | September 2, 2024 | September 4, 2024 |
Campaign #2: Scallop Staking Airdrop
To show appreciation for loyal Scallop supporters, the platform will reward stakers with SCA tokens.
To qualify, stake more SCA to receive veSCA. The longer you stake, the more rewards you will earn.
| Eligibility | Duration | Total Rewards Pool | | --- | --- | --- | | Stake more SCA for veSCA | From September 3, 2024 | 1,000,000 SCA |
The daily distribution of 200,000 tokens will continue throughout the campaign.
How to Boost Your Rewards on Scallop
The more veSCA you hold, the greater your rewards. There are two ways to increase your veSCA:
1. Lock more SCA 2. Lock SCA for a longer period
The staking rules include a minimum of 800 veSCA and a staking duration of 2 days to 4 years.
Scallop continues to enhance user experience and offer the best opportunities for decentralized finance users. The platform distinguishes itself with its airdrop campaigns and as the world’s first regulated DEX with multiple financial licenses.
