• Scallop is the World’s First DeFi banking platform
• Raised $100k in exclusive presale for MahaDAO community members
• Entire allocation filled by community – bot free
• Community centric approach

Scallop, the DeFi banking platform, recently announced an exclusive first-of-its-kind presale for the MahaDAO community members. In a first for crypto, Scallop offered the MahaDAO community the chance to purchase its utility token, SCLP, in a private sale – with the same terms and vesting schedules as its venture capital and angel investors. 

The presale commenced on the 7th September 2021. Scallop built a clean, user-friendly interface to conduct the sale, within only 3 days. The interface automatically tracked users’ MAHA token balances (a requirement for the sale to ensure priority for MahaDAO community), entailed a KYC form and facilitated funds in USDT/USDC from the community. The presale was available on either the Ethereum or Polygon Networks.

Extraordinarily, the target of $100K allocation was reached  in just 30 minutes, following remarkable interest. The allocation was filled entirely by the MahaDAO community as Scallop conducted the whole presale on their interface without any involvement from bots. More than 80 MahaDAO community members participated in the presale at the same price and terms as private sale investors. 

Scallop is the World’s First DeFi banking platform, incubated by MahaDAO. It is a one-stop solution for banking and crypto services. It bridges the fiat and digital asset worlds by providing a seamless interface which houses both under a single roof. This allows users to use both fiat and crypto on a single platform and reduces the need for multiple applications e.g. traditional banks, exchanges, wallet providers. Scallop will offer regulated and insured banking accounts for fiat; as well as digital wallets and banking-grade hardware wallets for digital assets.

Scallop will launch its banking products in Q4 this year and the token is expected to launch prior to that time. Announcements will be made in the Scallop Telegram Channel, as well as on the Scallop Twitter page.