# Scallop -> E Money Network

1. **What is the relationship between E Money Network and Scallop?**

All details regarding the relationship between E Money Network and Scallop can be found in this blog:

<https://blog.emoney.io/faqs/e-money-network-and-scallop-clarifying-structure-roles-and-responsibilities> \*

2. **Why was $SCLP changed to $EMYC Coin?**

The transition from $SCLP to $EMYC coin reflects the rebranding process, wherein the token now operates under E Money Network. Additionally, the token is evolving into a coin, hence the name change.

3. **How do I convert my $SCLP Tokens to $EMYC?**

Updates on the conversion process will be provided soon on our official channels. We appreciate your patience.

4. **What happens to $SCLP Tokens that are locked in staking?**

Upon the staking period's conclusion, users must manually convert their $SCLP tokens to $EMYC. Rewards accrued during staking will be distributed in $EMYC.

5. **What happens to $SCLP Tokens that are on an exchange?**

Further information regarding $SCLP tokens on exchanges will be provided soon. We appreciate your patience.

6. **What is the exchange ratio of $SCLP Token to $EMYC?**

The conversion ratio from $SCLP to $EMYC is 1:1.

7. **What will happen to existing Scallop Products?**&#x20;

Scallop products will currently stay the same, gradually the Scallop products will be integrated into the E Money Ecosystem.

### $EMYC:

1. **Which wallets support the $EMYC Coin?**

All wallets compatible with the BNB network support the BEP20 version of $EMYC Coin. Additionally, centralised exchanges trading $EMYC will also support the native coin.

2. **Can I stake $EMYC?**

Yes, $EMYC coins can be staked as the E Money Network chain operates on a Proof of Stake algorithm.

3. **What is the utility of $EMYC Coin?**

EMYC serves as the native token within the E Money Network, facilitating transactions and operations. Use cases include gas fees, node validation, contract deployment fees, regulated crowdfunding, staking, app discounts, loyalty programs, and peer-to-peer lending. More details here: <https://whitepaper.emoney.network/>&#x20;

4. **Why is there an increase in the supply of $EMYC Coin from the $SCLP token?**&#x20;

The supply of $EMYC Coin is increased to cater to the needs of validators, facilitate airdrops, and support grants.

### E Money Network:

1. **What is E Money Network?**

E Money Network, developed as part of the Scallop ecosystem, is an open-source blockchain framework designed to support EVM-compatible blockchains. With Tendermint and IBC compatibility, it enables inter-blockchain communication and brings decentralised finance (DeFi) capabilities to a single blockchain network.

2. **Can I find E Money Network on GitHub?**

Integration documents and SDKs will be available after collaboration with selected alpha dApps. Following this, an E Money Network integration guide will be accessible on GitHub. You can follow us on our [twitter](https://twitter.com/ScallopOfficial) for our official announcements.

3. **Where can I find more information about the E Money Network?**

Detailed information about the E Money Network chain can be found in our technical documentation : <https://docs.emoney.network/>\ <br>

### \* Corporate Structure and Regulatory Notice

To support the delivery of regulated financial services, the E Money Network operates through a separate legal entity incorporated in Panama, which functions independently from the Scallop Group. The Scallop Group continues to provide regulated financial services, and the E Money Network accesses this regulated infrastructure through a strategic partnership.

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The EMYC token serves as the primary digital asset within the Scallop application ecosystem, granting holders access to enhanced service tiers and program incentives.