USDC Native
The arrival of native USDC on the SUI network is a highly anticipated milestone, marking a significant expansion of the SUI blockchain ecosystem. Scallop, as a strong supporter of this growth, has integrated native USDC from day one, allowing users to lend and borrow native USDC on Scallop right from the start.
To celebrate and support the arrival of native USDC in the SUI ecosystem, Scallop is offering special incentives for users who engage in borrowing. Not only are we offering these incentives, but we are also waiving the borrowing fee—originally set at 0.3%—now reduced to 0% during a special event. This fee-free borrowing period runs for one week, from October 8, 2024, to October 15, 2024, providing equal opportunities for both veSCA holders and non-holders to maximize their rewards from the introduction of native USDC on SUI.
Moreover, recognizing the significance of native USDC’s debut on SUI, Scallop has developed a seamless migration feature. This advanced tool, built by our expert developers, allows users with positions in the wUSDC lending pool to migrate effortlessly to the native USDC pool. This eliminates the need for a manual process of withdrawing, swapping wUSDC to USDC, and then resupplying to the lending pool, making the transition quick and hassle-free.
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