# 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](https://emoney.io/) as one of its primary product.

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?** 

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 (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.

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/>


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