Scallop (sui) User Guide
Last updated
Last updated
Scallop is the pioneering next-generation peer-to-peer currency market within the Sui ecosystem and the first DeFi protocol to receive official funding from the Sui Foundation. By emphasizing institutional-grade quality, enhanced composability, and robust security, Scallop is dedicated to building a dynamic currency market featuring high-yield lending, low-cost borrowing, AMM, and digital asset self-management tools, all within a unified platform, with an additional SDK provided for professional traders.
Scallop is primarily focused on its lending features, but it also supports various functionalities, which can be viewed through the menu.
Open TokenPocket and click on "Discover." Access "Scallop" within the popular DApps.
For the first-time use, connect your wallet by clicking on "Connect Wallet" and choose TokenPocket as the connection method. Click on the 【US】 in the top right corner to switch languages; it supports multiple languages.
Scallop's main functions are divided into the "Lending Pool" and the "sCoin Pool," each with specific execution types. In the Lending Pool, you can select the token you want to supply (using SUI for demonstration here). Set the amount of SUI to supply and it will automatically check the option to stake sSUI (Stake sSUI into sCoin Pool) into the sCoin pool. If you wish to "Withdraw," set the desired withdrawal amount and proceed with the withdrawal operation.
In the sCoin pool, you can stake the tokens provided for supply. If in the previous step, you chose to automatically stake sSUI into the sCoin pool when supplying, there is no need to perform this step separately. The methods for staking and unstaking are straightforward and can be done based on the system's prompts.
The Borrowing Pool is mainly divided into the "Collateral Pool" and the "Loan Pool." In the Collateral Pool, you can pledge the tokens you need as collateral. Similarly, you can operate through the prompts for "Deposit" and "Withdraw" on the interface to manage your collateral.
If the tokens are already pledged, they cannot be borrowed from the Loan Pool. When attempting to borrow, you will receive the prompt shown in figure 1. The Loan Pool allocates borrowing limits based on the collateral provided. For example, if you choose to borrow USDT, set the amount, and click on "Borrow USDT." To repay, you can perform the operation in the "Repay" interface.
Scallop Official Website: https://www.scallop.io/
Documentation: https://docs.scallop.io/
