Scallop
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Scallop

Early Adopter Community PreSale for the MahaDAO Community — SCLP Token

Scallop is delighted to announce the official details of the community presale for the MahaDAO community & MAHA holders.

Following much strategizing and consideration, devising a fair and equitable structure for the MahaDAO community members, we are pleased to now present the details of, the first-of-its-kind, Early Adopter Community PreSale for the SCLP token.

Key Highlights of the SCLP PreSale

  • Total Raise: $100,000
  • Contributions in: USDT, USDC
  • Chain: ETH & Polygon (Contributions can be made via either the ETH or Polygon network)
  • Min cap per user: $100
  • Max cap per user: $1500
  • Date: 7th September 2021
  • Token Vesting: P2 vesting (described in-depth below)
    Min MAHA required for eligibility: 300 MAHA tokens

*The SCLP presale will be conducted on the FCFS basis for all participants that qualify the basic eligibility criteria

Another First for the World’s First DeFi Powered Banking Service

The Early Adopter Community PreSale is a unique event for the wider DeFi community. It’s hopefully the first of many firsts to come for Scallop.

This exclusive presale event will recognise investors/participants from the MahaDAO community as private round investors of Scallop, who obtain exactly the same terms and vesting periods as venture capital firms and angel investors — making it an unprecedented event in the world of DeFi.

The vesting period is 6 months and is as follows:

- 25% instant release on TGE

- Remaining 75% locked for 3 months

- Post 3 months lock, 25% released at end of each month, for 3 months

Eligibility Criteria for the SCLP PreSale?

To participate in the Scallop Early Adopter Community PreSale, the following criteria must be adhered to: -

  • You must hold a minimum of 300 MAHA tokens at the time of contributing (can be a combination of tokens held on Polygon/ETH)
  • You must hold the MAHA tokens in a MetaMask wallet on either the Ethereum or Polygon Network
  • You must hold the required amount of USDT or USDC in the same MetaMask wallet on the Ethereum or Polygon Network. These will be used to send your contribution for the Early Adopter Sale
  • You must not contribute less than $100 or more than $1500 worth of USDT/USDC
  • We will only send the SCLP Tokens to the MetaMask address that you have participated with

*Failure to comply with these criteria will result in the exclusion of your participation in the Early Adopter Community Sale

A clear step-by-step guide will be published 1 day prior to the sale highlighting further details and FAQs. Below are some frequently asked questions.

Frequently Asked Questions

Is this offering an IDO?

No, this is not an IDO or IEO of any kind. It is an exclusive presale event for the MahaDAO Community.

When will the Early Adopter Community Presale for SCLP commence?

7th September 2021

Prerequisites for participating in the SCLP presale?

  • MetaMask wallet
  • 300 MAHA tokens
  • USDT/USDC

What is the SCLP PreSale price per token?

$0.12

What is going to be the SCLP Public Sale price per token?

TBA at the time of TGE

In case of oversubscription, which is very likely, does the system use a lucky draw system or FCFS basis?

FCFS

If I have 150 MAHA tokens on ETH and 150 on Polygon, am I eligible?

Yes

Can you share the status of Scallop’s private sale details?
https://ihodl.com/press-releases/2021-08-16/defi-neo-banking-app-scallop-set-close-its-25m-seed-funding-round-led-blackedge-capital/

What if my MAHA tokens are held on an exchange (e.g. KuCoin, Gate.io, etc) and not MetaMask?

Unfortunately, we don’t have the mechanism to verify tokens held on exchanges. If you want to participate in the Scallop Early Adopter Community PreSale, we recommend that you send those tokens to your MetaMask wallet.

What if my MAHA tokens are staked and not showing in my MetaMask, can I still be eligible?

Yes, you will still be eligible if you have the minimum amount of MAHA tokens staked. More details on this will be provided soon.

Why is there a min & max cap per user?

This is to provide an equitable distribution of allocation, otherwise, one/few individuals could take the entire presale between them

Can I send my contribution in ETH or BTC?

No. All contributions MUST be sent in either USDT or USDC. Any funds sent in any other token may be lost. It is your responsibility to adhere to this.

If I didn’t hold MAHA token at the time that I filled in the pledge form, can I still buy it and be eligible to participate?

Yes. Pledge form was simply a tool to analyse interest in SCLP tokens from the MahaDAO community & after receiving an overwhelming response, we decided the min & max cap per user so a fairer distribution is conducted for the SCLP PreSale.

You must hold a minimum of 300 MAHA tokens at the time of contribution on either the Ethereum or Matic Network. You can still purchase MAHA prior to the Scallop Early Adopter Community Sale and you must still hold them at the time of contributing.

Can I still be eligible by holding the equivalent of 300 MAHA in ARTH?

Unfortunately not. Although ARTH is an integral part of the MahaDAO ecosystem, the fairest criteria for all community members wishing to participate is by the assessment of MAHA tokens held, as MAHA is the governance token behind the MahaDAO ecosystem.

Disclaimer

Buying, selling, staking, investing in, or trading cryptocurrencies involves significant risk and can result in the loss of your capital. You should not invest more than you can afford to lose and you should ensure that you fully understand the risks involved.

Before trading, please take into consideration your level of experience, purchase objectives, and seek independent financial advice if necessary. It is your responsibility to ascertain whether you are permitted to use Scallop, the MahaDAO, or any crypto platform based on the legal requirements in your country of residence. A disclaimer has been put up on the platform and the terms on our whitepaper clearly mention the above.

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About Scallop

Scallop is a DeFi enabled neo-bank that utilises blockchain at its core to provide a safe and secure solution to bridge the gap between traditional and decentralised financial systems.

Scallop Official Links

Telegram | Twitter | Website | Medium |

MahaDAO Official Links

Telegram | Twitter | Discord | Github| Website | Governance Portal | Discussion Forum | Gitbook | Product

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