This is the guide about how to become a Scalloper on Solana Devnet.
0. What is Scallop?
Scallop is a diverse no-loss protocol on Solana with ocean theme on-chain collectibles and NFTs. No-loss protocol it’s a farming strategy that maximizes potential yield with 0 loss, the benchmarking projects are PoolTogether on Ethereum and YieldlyFinance on Algorand.
Users can deposit tokens into Scallop Pools, Scallop on-chain program will invoke lending, staking, and stable pool liquidity mining protocols to earn the yield. Every 24 hrs, a winner will be picked from each pool by the program to get most of the yields as the prize.
1. Install Phantom
You can jump to 2. if you already have a Solana wallet.
Download Phantom Wallet: https://phantom.app/ for your browser.
Let’s create a new wallet.
#1 Create a password.
This password is for this browser, in case bad guys steal your tokens by stealing your laptop, or use it without asking, etc.
Save your mnemonic.
Do not let anybody know your mnemonic, save it safely. (Best Ways to Store Your Mnemonic Passphrase and How)
Continue, Finish
2. Visit Scallop
Visit Scallop App and switch the cluster to “devnet”, and “Connect wallet”.
Scallop App: https://app.scallop.io/
Chose “Phantom”.
Key in the password at #1, and click “Connect”.
and then click your address and click “Airdrop SOL”.
If it’s working great, there will be an Account Funded block at the left downside.
Now you have the Devnet SOL, let’s try to join Scallop Protocol!
Click the “Deposit” button.
Let's try to deposit 2 SOL into Solend lending pool.
Click “Approve” to approve this transaction.
The Transaction Signature pop out means you did it successfully!
Scallop has a unique dashboard called Scallop Tank to show both joining status and its native on-chain collectibles called Scallop Decorations, it’s like a fish tank NFTs collection cabinet, we hope it can make Scallop become a good Defi + NFTs project design sample.
The deposit amount changing during the round will make you can’t be the winner in 24 hrs.
You can check the latest and the history winners on the winner page.
And if you win you can claim the prize here.
Scallop Devnet Beta is the MVP of Scallop on Solana Devnet, now we only support Scallop Pools to do SOL lending at Solend protocol because it’s not easy to get other Devnet SPL tokens, we will support more SPL tokens while we are on Mainnet.
We will also invoke some other great lending, staking, and stable pool liquidity mining protocols after the Mainnet launch. Then upgrade Scallop’s decentralization level, functions, UI/UX, etc., and keep growing according to the roadmap.
If you found any bugs in Scallop Devnet Beta or have any suggestions, please feel free to give us feedback in our community. Btw, the addresses who interact with Scallop Devnet program might will have some rewards in the future🤫!
Join Scallop community now⬇:
Twitter: https://twitter.com/Scallop_io
Telegram: https://t.me/Scallop_io
Discord: https://discord.gg/F7umecFArJ
Linktree: https://linktr.ee/scallop_io
