Scallop
SCLP
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
SCLP (Scallop) has been officially deprecated and migrated to E Money Network (EMYC) at a 1:1 ratio following an ecosystem rebrand in November 2024. As a consequence, active development and standalone community tracking on the legacy SCLP contract have ceased, resulting in data gaps (-1.0 scores) for the Active Development and Community Support sections. The legacy token has been delisted from major exchanges such as KuCoin and MEXC in favor of the new EMYC token, leaving SCLP with virtually no liquidity or standalone utility (Market & Use Case: 2.5/10). Tokenomics (5.2/10) reflect high initial insider allocation (49.5%) and substantial supply expansion under EMYC (expanding to 400M tokens). While the project exhibits a clean security record with zero smart contract exploits, no regulatory enforcement actions, and a public founding team (Team & Governance: 5.8/10; Security: 4.5/10), the legacy SCLP contract is defunct.
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 (SCLP)
Scallop (SCLP) is a deprecated token that migrated to E Money Network (EMYC) at a 1:1 conversion ratio in November 2024 following an ecosystem rebrand. Originally launched as a BEP-20 token on BNB Smart Chain, SCLP functioned as the native utility asset for Scallop, a regulated fintech and neobanking platform founded by CEO Raj Bagadi. The platform was established to connect fiat banking services with cryptocurrency payments, accounts, and debit cards through integrations with regulated electronic money institutions.
Within the original ecosystem, SCLP had a hard cap of 100,000,000 tokens and was utilized for neobank tier staking, fee waivers, governance, and cashback incentives, supported by a buy-back and burn mechanism. Initial token distribution included a 49.5% insider allocation dedicated to the team, advisors, and private sale participants subject to a three-year vesting schedule. As part of the migration to E Money Network, the total token supply was expanded to 400,000,000 EMYC, introducing potential dilution risks for legacy holders.
Following the November 2024 rebrand, centralized exchanges including KuCoin, MEXC, Bitget, and BitMart delisted legacy SCLP trading pairs to facilitate the token swap, leaving the legacy contract with near-zero trading volume and no active development. Over its market lifecycle, SCLP experienced an unrecovered drawdown of more than 98% from its historical peak of $8.07–$8.74. While the project suffered major market depreciation and exchange delistings during its migration, the SCLP smart contract recorded zero security exploits, insolvencies, or regulatory enforcement actions.