A Developer's Guide to Integrating with Scallop: Native Lending on Blast

Scallop Official is designed to be the leading Scallop Lending Protocol native to the Blast L2, leveraging its unique features to provide an efficient money market. This guide provides a technical overview of how to interact with the core functionalities: supplying assets and borrowing against them, especially within the Scallop Blast Native Lending environment.

Core Concept: Isolated Lending Pools & Dynamic Interest Rates
Scallop employs isolated lending pools, where each asset market has its own risk parameters. Interest rates are determined by real-time supply and demand, ensuring Scallop Dynamic Interest Rates that reflect market conditions. The protocol also heavily integrates Scallop Liquid Staking Tokens (LSTs) as prime collateral.

Step 1: Supplying Assets (Lending)
To earn yield, users supply supported assets.

Connect to Blast: Ensure your Web3 wallet is connected to the Blast network.

Select Asset: On the Scallop dApp, choose the asset to supply (e.g., WETH, USDB, or a supported LST).

Enable Collateral: If you intend to borrow, you must enable your supplied asset as collateral. This usually requires a separate approval transaction.

Supply: Confirm the supply transaction. Your assets will now accrue yield.

Step 2: Borrowing Assets
Once collateral is supplied, you can access the Scallop Borrowing Platform.

Select Asset to Borrow: Choose the asset you wish to borrow.

Monitor Health Factor: Always observe your Health Factor. This indicates the safety of your loan. A Health Factor of 1 means your collateral value equals your borrowed value. Dropping below 1 can trigger liquidation.

Borrow: Confirm the borrow transaction.

solidity
// Pseudocode for interacting with Scallop's lending pool
interface IScallopPool {
function supply(address asset, uint256 amount) external;
function borrow(address asset, uint256 amount) external;
function enableAsCollateral(address asset) external;
function getHealthFactor(address user) external view returns (uint256);
}

// Example usage
IScallopPool scallopPool = IScallopPool(0xScallopPoolAddress);
// Supply WETH
scallopPool.supply(WETH_ADDRESS, 1 ether);
// Enable WETH as collateral
scallopPool.enableAsCollateral(WETH_ADDRESS);
// Borrow USDB
scallopPool.borrow(USDB_ADDRESS, 1000 ether);
This is How to use Scallop for efficient capital management on Blast. For a full breakdown of the risk engine and smart contract interfaces, please refer to https://sites.google.com/verified-web3-portal.com/scallop/.