How to Scallop?
Users can deposit tokens into Scallop Pools to grow scallops in Scallop Tank and join the no-loss lottery, our program will invoke SOL or SPL token staking, lending, or liquidity mining protocols (especially stable pools) to earn the interest to be the pool reward.
Every 24 hours will have a Scallop harvest time, winners chosen by Switchboard VRF (Verified Random Functions) will share out around 93% of the total reward, and other rewards will be going to the Scallop Treasury, now the Scallop Treasury tokens will return to Scallop pools and earn yields for the next period.
Users can deposit any amount of SOL or SPL tokens, every time the deposit amount changes, users need to wait for another 24 hours to join the lottery, the winning rate is the same as the tokens being deposited in the percentage of the pool token.
There will be different Scallop Pools with accept different tokens and different earning ways, you can see where the Scallop Pools fund will go, ex:
- USDC no-loss pool by deposit USDC to lend USDC at Solend.
- SOL no-loss pool by deposit SOL to stake at Marinade.