TL;DR
- Solend has announced the launch of Suilend, an innovative DeFi lending protocol built on the architecture of the Sui blockchain.
- Solend’s protocol stands out as the ninth largest on Solana, with a total locked volume (TVL) of $212 million and active participation from over 170,000 users in lending operations spanning over 70 asset types.
- The team behind Solend expresses its goal with Suilend to build “rocket ships” using advanced tools offered by Sui and Move.
Solend, recognized as a leading lending platform on the Solana blockchain, has announced the launch of Suilend, a new DeFi lending protocol. This innovative project is built on the architecture of the Sui blockchain, specifically designed to provide scalability, a crucial factor in supporting the rapid growth of DeFi platforms.
Solend’s protocol stands out as the ninth largest on Solana, with a TVL of $212 million. Additionally, it boasts active participation from over 170,000 users in lending operations spanning over 70 asset types. The choice of Suilend to leverage the Move programming language confirms the intention to capitalize on superior performance and advanced capabilities of tools provided by Sui.
@SuilendProtocol is now live on Sui! The @solendprotocol team went from “building a cathedral with chisels and hammers” to building “rocket ships” on Sui with #Move.
Give them a warm welcome and dive into the platform here! https://t.co/sHzmK2wIQy pic.twitter.com/LpM0IaoWg1
— Sui (@SuiNetwork) March 11, 2024
The team behind Solend, led by founder ‘Rooter,‘ has expressed its goal to build “rocket ships” with Suilend, referring to advanced tools like lasers and welders offered by Sui and Move. In comparison, development on Ethereum and Solana is likened to building a cathedral using chisels and hammers. The metaphor highlights the need for more advanced tools in the DeFi environment, and Suilend is presented as the answer to this need.
Solend and Sui Build the Future of DeFi
Suilend, being a novel project, is launched at a time when DeFi protocols on Sui have experienced rapid growth, accumulating a TVL that surpasses $500 million in just 10 months since its launch. The protocol aims to capitalize on the high transaction speed and fast settlement times offered by Sui, considered particularly beneficial for DeFi protocols.
Suilend is already available on the mainnet for those holding beta passes. With a refined interface, the protocol provides users with the necessary tools to make informed decisions in the DeFi space.
