Scallop -> E Money Network

1. 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.

1. 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.

1. 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.

1. 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.

1. 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.

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

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

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:

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.

1. Can I stake $EMYC?

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

1. 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/

1. 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:

1. 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.

1. 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.

1. 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/