Scallop is thrilled to be conducting the first-ever Initial Blockchain Offering (IBO) with MahaStarter, a new launchpad for the decentralised economy by MahaDAO. Scallop is the world’s first regulated DeFi neo-banking app and will launch its SCLP token through the IBO on 27th October 2021.
Whitelisting opens on Saturday 23rd October 2021 3 PM UTC and will close on 26th October 2021 3 PM UTC.
SCLP Initial Blockchain Offering (IBO)
Scallop is the first-ever project to conduct an Initial Blockchain Offering. An IBO refers to a crowd sale for blockchain-based tokens that will also launch their own chain. SCLP is the native token for the Scallop ecosystem and has several use cases, including the payment of gas fees for the Scallop Chain.
The SCLP token is the native token for the Scallop ecosystem and can also be used for paying transaction and exchange fees. The fees are paid by users who trade digital assets on the platform and use in-built on/off ramps to convert fiat to cryptocurrencies and vice versa. Institutions may also use SCLP to pay management fees on the platform.
SCLP tokenomics can be found here. Moreover, following the IBO, Scallop will also introduce a staking program that will be viable from a tentative period of 30 days to four years. The longer the tokens are staked for, the higher yield and APY awarded.
According to Scallop founder and CEO, Raj Bagadi, the IBO and listing is a significant milestone in Scallop’s roadmap and will lead to more lucrative opportunities in the future. The SCLP token will boost the utility of ten DeFi banking products offered by Scallop and help to achieve Scallop’s vision of bridging the gap between traditional and decentralised finance.
Scallop has chosen MahaStarter for the IBO due to the platform’s unparalleled features and the successful ongoing partnership with the parent DAO platform.
Whitelist Opening: 3 PM UTC, Oct 23, 2021
Whitelist Closing: 3 PM UTC, Oct 26, 2021
Whitelisted Addresses Details: 8 PM pm UTC, Oct 26, 2021
IBO time: 3 PM UTC, Oct 27, 2021
Total Allocation: $150,000
Price per token: $0.15
Accepted currency: BNB
Max cap per user: $500
Min cap per user: N/A
IBO WHITELISTING PROCESS:
Step 1. Finish your KYC process on https://mahastarter.com/#/kyc
Step 2. Fill out the Whitelisting form
MahaStarter is an incubation platform by MahaDAO recently launched for top-tier Initial Blockchain Offerings. MahaStarter aims to maintain the highest possible standards while launching the IBOs for tokens such as $SCLP.
MahaDAO is a community-powered decentralized autonomous organization that is on a mission to help projects and communities preserve their purchasing power using the world’s first Valuecoin, ARTH. ARTH is pegged against a Global Measurement Unit that keeps the token stable during volatility for a long period.
Scallop is an innovative fintech solution built to help users securely manage and store their crypto and fiat assets in a single place. The platform aims to bridge the gap between traditional and decentralized finance using its step of ten DeFi banking products.