Scallop, a key player in the Sui blockchain lending ecosystem, has announced an exciting new airdrop campaign designed to reward its dedicated user base. The campaign features a substantial total reward pool size of 1,000,000 SCA.
The campaign is set to distribute 200,000 veSCA tokens specifically to reward its consistent borrowers. The snapshot for determining eligibility for the airdrop is slated for September 2nd, with the actual distribution of the tokens occurring two days later, on September 4th.
To qualify, users must engage in borrowing activities, with a minimum borrowing amount of 100$ USD. The allocation of veSCA tokens to individual users will depend on their total borrowed amount, enabling them to increase their APR for SCA rewards by up to four times and SUI rewards by up to two times.
Enhanced Staking Opportunities
In conjunction with the airdrop, Scallop is introducing a staking campaign that invites users to stake their SCA tokens in return for veSCA tokens, which are instrumental in obtaining additional SCA rewards. The staking campaign boasts a reward pool of 1 million SCA tokens, distributed evenly from September 3rd to September 7th. Participants can expect daily reward distributions, with the potential for increased rewards the longer they maintain their stake.
Users need to hold at least 800 veSCA tokens to partake in the SCA rewards. The campaign allows for flexible staking durations ranging from a minimum of two days to a maximum of four years, catering to both short-term participants and long-term investors looking to maximize their returns.