Loan agreement Scallop raises $3 million, led by THE CMS and 6MV

ChainCatcher news, the Sui ecosystem lending protocol Scallop announced on social media that it has completed a $3 million strategic financing round, led jointly by THE CMS and 6MV, with participation from KuCoin Labs, 7UpDAO, Side Door Ventures, Oak Grove Ventures, Signum Capital, Blockchain Founders Fund, Cypher Capital Group, Mysten Labs, and Kyros Ventures.

Scallop is the money market of the Sui ecosystem. By emphasizing institutional-grade quality, enhanced composability, and robust security, Scallop is committed to building a dynamic money market that offers high-interest lending, low-fee borrowing, AMM, and asset management tools on a unified platform, while providing SDKs for professional traders.