October 11, 2024
Scallop has announced a strategic investment from the Sui Foundation, the organization behind the high-performance Layer 1 blockchain, Sui. This partnership is a significant milestone for Scallop, reinforcing its mission to advance decentralized finance (DeFi) adoption and develop the next generation of DeFi infrastructure.
Project | Latest Raise Date | Stage | Lead Investor | Category |
|---|---|---|---|---|
Scallop | October 11, 2024 | Strategic Investment | Sui Foundation | DeFi |
This investment strengthens Scallop’s position as a leading DeFi protocol within the Sui ecosystem and highlights their shared commitment to innovation in the DeFi space. The support from the Sui Foundation will enable Scallop to accelerate the rollout of new features on Sui, enhancing the DeFi experience for its users.
About Scallop
Scallop is a next-generation money market protocol designed for the Sui blockchain. It focuses on providing institutional-grade quality, seamless composability, and robust security for decentralized finance (DeFi) activities. Scallop allows users to lend and borrow digital assets with ease, offering features like native bridges, interoperability protocols, and developer tools. By integrating advanced security measures and innovative financial models, Scallop aims to enhance the DeFi experience and drive the adoption of decentralized financial services.
Website: https://scallop.io/
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About Investor
Investor: Sui Foundation
The Sui Foundation is an independent organization dedicated to the advancement and adoption of the Sui blockchain. Its mission is to onboard the next billion users to web3 by advancing the global adoption of the Sui blockchain. The foundation operates on three principles: transparency to ensure fairness, open communication to build trust, and direct engagement to foster participation.
Location: San Francisco, CA
Website: https://sui.io/
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