KuCoin Will Support the Rebranding of Scallop (SCLP) to E Money Network (EMYC)
Dear KuCoin Users,
KuCoin will support the rebranding of Scallop (SCLP) to E Money Network (EMYC). We will complete the SCLP to EMYC rebranding and token swap automatically for SCLP holders on KuCoin.
The arrangements are as follows:
1. KuCoin will close the SCLP deposit and withdrawal services at 07:50:00 on November 22, 2024 (UTC).
2. KuCoin Trading Bot will automatically stop the running bots of SCLP/USDT at 07:45:00 on November 22, 2024 (UTC), including Spot Grid, Infinity Grid, DCA, Spot Martingale, and AI Spot Trend. The above-mentioned trading pair held by the Smart Rebalance bots will be transferred to the user's trading account. Please dispose of the relevant assets in a timely manner.
3. KuCoin will close the trading service for the SCLP/USDT trading pair at 08:00:00 on November 22, 2024 (UTC). We recommend that you cancel your pending orders of SCLP as soon as possible.
4. To complete the rebranding, KuCoin will take snapshots of users’ SCLP assets at 12:00:00 on November 22, 2024 (UTC). We will convert the SCLP to EMYC at a ratio of 1:1 (1 SCLP = 1 EMYC).
Related follow-ups to this subject will be announced separately as soon as possible.
Please note:
1. Minimum holding for eligibility: 8 SCLP.
2. The snapshots will include SCLP balances in Spot accounts (Funding Account + Trading Account).
3. SCLP tokens that were in pending deposit or withdrawal at the time of the snapshots will not be counted towards your EMYC balance.
4. After the deposit, withdrawal and trading services for SCLP are closed, the SCLP token will no longer be supported on KuCoin. Users who deposit SCLP afterward, KuCoin will NOT be able to cover users’ losses.
5. After the rebranding is completed, KuCoin only supports the E Money mainnet EMYC, please do NOT deposit BEP-20 EMYC.
6. During the rebranding process, users may not be able to check their SCLP and EMYC balances for a short time. This is a normal phenomenon and there is no cause for concern. When the rebranding is completed, the balance will be displayed automatically.
7. After the rebranding is completed, the SCLP token will NO longer be supported on KuCoin.
8. According to the requirements from Scallop team (now E Money Network), the migration will follow the TGE date, At TGE, $SCLP holders will receive 12% of their converted holdings immediately with the remaining balance over six months at 14.66% monthly. We will assist users complete the token swap and airdrop it to users monthly based on the snapshot.
9. The TGE date shall be depending on Scallop team (now E Money Network)’s timeline, please pay attention to the project's further announcement.
For further information on the rebranding, please refer to the Official Announcement.
Learn more about EMYC: Website | X (Twitter) | Telegram
Best regards,
The KuCoin Team
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