Scallop
SCA
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
SCA (Scallop) is the governance and utility token of a lending protocol on the Sui blockchain. On the positive side, the project maintains smart contract audits by OtterSec and MoveBit, an active bug bounty program on HackenProof offering up to $300,000, and a defined disinflationary token emission schedule with a fixed supply cap of 250 million tokens. However, the protocol faces notable challenges: it has a small market presence (~$2.62M market cap) following a -98.86% drawdown from its all-time high, relies heavily on liquidity mining emissions with limited organic fee-capture utility, and suffered an exploit in April 2026 that drained ~$142K from a deprecated peripheral rewards contract (prompting Korean exchange Coinone to place the token on its delisting watchlist). Significant data gaps were identified in Community Support (-1.0) and Team and Governance (-1.0) due to an absence of verifiable protocol-specific community channels and founder background information in retrieved sources. The final score is calculated from the normalized weighted average of the remaining four sections.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About Scallop (SCA)
SCA is the native governance and utility token of Scallop, an open-source decentralized lending protocol deployed on the Sui blockchain. The protocol provides lending and borrowing infrastructure on Sui, with the SCA token utilized primarily for governance through veSCA staking. The token operates with a fixed maximum supply of 250,000,000 SCA, featuring a disinflationary liquidity mining emission schedule designed to decrease monthly until concluding in August 2026.
The protocol's technical infrastructure includes smart contract audits conducted by OtterSec, MoveBit, and Zellic, along with an active bug bounty program on HackenProof offering tiered rewards up to $300,000 for identified vulnerabilities. Development resources also include a publicly available TypeScript SDK for protocol integration.
Scallop has encountered security and market challenges. On April 26, 2026, an exploit on a legacy, uninitialized sSUI V2 spool rewards contract led to the loss of approximately 150,000 SUI (valued at around $142,000). Although core lending pools and user deposits were unaffected and the protocol committed to fully covering the losses, South Korean exchange Coinone placed SCA on its delisting watchlist following the incident. Additionally, the token has experienced a severe price contraction, recording a drawdown of over 98% from its all-time high of $1.49.