01 - Rinse jasmine rice under cold water until water runs clear. Combine rice, water, and salt in a saucepan. Bring to a boil, then cover and simmer on low heat for 15 minutes. Remove from heat and let stand, covered, for 10 minutes. Fluff with a fork and allow to cool to room temperature.
02 - Heat vegetable oil in a small skillet over medium heat. Add sliced shallots and fry, stirring frequently, until golden brown and crisp, approximately 5 to 7 minutes. Remove with a slotted spoon and transfer to a paper towel-lined plate. Season with a pinch of salt.
03 - In a small bowl, whisk together lime zest, lime juice, soy sauce, sugar or honey, olive oil, and black pepper until well combined.
04 - In a large bowl, gently toss cooled rice with watermelon cubes, cilantro, scallions, chili, and peanuts. Drizzle dressing over the mixture and fold lightly to coat evenly.
05 - Transfer salad to a serving platter or individual bowls. Generously top with crispy shallots immediately before serving to maintain crunch.