About Scallop

Scallop on Sui

Scallop is the pioneering Next Generation peer-to-peer Money Market for the Sui ecosystem and is also the first DeFi protocol to receive an official grant from the Sui Foundation. Emphasizes institutional-grade quality, enhanced composability, transparency, and robust security. Offers Lending/Borrowing, lending derivatives, Sui PTB building tools, flash loans, SDKs, and a UI for swaps and bridges. Scallop: https://www.scallop.io

What is Sui?

Sui Logo

Sui is a Layer 1 blockchain, aiming to provide creators and developers with an easier-to-build experience for the next billion Web3 users. Sui is a decentralized proof-of-stake blockchain with horizontally scalable throughput and storage, allowing high-speed and low-cost application development. Sui's growth company is Mysten Labs, which was co-founded by several employees from the Facebook (later renamed Meta) Novi research team. Sui is not a derivative of the Diem network, nor is it an incremental improvement, but a functional advancement based on blockchain technology to meet the needs of the next generation of cryptocurrency users and developers. Sui aims to become the first Internet-scale programmable blockchain platform by introducing innovative underlying technologies.

The Sui protocol has the following main features:

1. Scalability and instant settlement: Sui supports horizontally scalable processing and storage for high-throughput and low-latency transaction settlement.

2. Secure smart contract language: Sui provides a secure smart contract language for developers to define rich and composable on-chain assets for a better user experience.

3. Narwhal and Bullshark DAG memory pool and efficient Byzantine fault-tolerant consensus: Sui uses Narwhal and Bullshark DAG as a memory pool and efficient Byzantine fault-tolerant consensus mechanism to ensure the reliability and consistency of transactions.

4. Causal order and total order enable massively parallel execution: Sui's causal order and total order mechanism allow the execution of many transactions in massive parallel, reducing latency and increasing throughput.

5. Object-based data model and Move programming language: Sui's data model is object-centric and utilizes the object-based Move programming language, enabling composable objects and non-fungible tokens (NFTs). This simplifies the developer experience.