Scallop -> E Money Network
What is the relationship between E Money Network and Scallop?
Scallop will be the parent company holding all the licenses. E Money Network as one of its primary product.
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.
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.
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.
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.
What is the exchange ratio of $SCLP Token to $EMYC?
The conversion ratio from $SCLP to $EMYC is 1:1.
What will happen to existing Scallop Products?
Scallop products will currently stay the same, gradually the Scallop products will be integrated into the E Money Ecosystem.
$EMYC:
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.
Can I stake $EMYC?
Yes, $EMYC coins can be staked as the E Money Network chain operates on a Proof of Stake algorithm.
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/
Why is there an increase in the supply of $EMYC Coin from the $SCLP token?
The supply of $EMYC Coin is increased to cater to the needs of validators, facilitate airdrops, and support grants.
E Money Network:
What is E Money Network?
E Money Network (powered by Scallop) 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.
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 for our official announcements.
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/
Last updated