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Scallop Surpasses $150M TVL, $80M Borrowing, $47M Swap Volume, Launches New Incentive Program

Scallop, a DeFi lending protocol within the Sui Network ecosystem, has achieved significant milestones
By: DeepNewz • September 23, 2024
Scallop Surpasses $150M TVL, $80M Borrowing, $47M Swap Volume, Launches New Incentive Program

Scallop, a DeFi lending protocol within the Sui Network ecosystem, has achieved significant milestones. The platform has surpassed $150 million in Total Value Locked (TVL), with $80 million in total borrowing volume, $47 million in swap trading volume, and $12 million in flash loan volume.

Additionally, Scallop has introduced a new incentive program offering an 11.45% APR for USDC pools and various boosts for holding veSCA tokens. The protocol's growing popularity is highlighted by its performance in the ongoing 'Suitember' event, with 68% bullish sentiment and incentives including ~170K SUI and ~512K SCA.

This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz.

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