Solend faucets Sui for brand new DeFi lending protocol, Suilend

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The crew behind Solend, a prime lending platform on the Solana blockchain, introduced at the moment the launch of their new DeFi lending and borrowing protocol powered by the Sui blockchain. Named “Suilend,” the new mission is constructed utilizing the Transfer programming language, capitalizing on Sui’s excessive efficiency and superior tooling capabilities.

Solend protocol is the ninth largest on Solana, with a complete quantity locked of $212 million, making it the main lending protocol on the blockchain. It serves over 170,000 customers who borrow and lend throughout over 70 asset sorts.

Since its launch 10 months in the past, DeFi protocols on Sui have grown quickly, now attracting over $500 million in whole quantity locked, as shared in Sui’s current weblog put up. With the Suilend protocol, Solend’s crew goals to leverage excessive throughput and fast settlement occasions, which is especially useful for DeFi protocols.

Rooter, the pseudonymous founding father of Solend, mentioned that the crew’s objective with Suilend is to construct “rocket ships” utilizing the superior instruments that Sui and Transfer present.

“Growing on Ethereum and Solana felt like constructing a cathedral with chisels and hammers. That’s to not say you’ll be able to’t construct nice issues – cathedrals are a number of the most stunning human achievements. However we need to construct rocket ships, and for that, you want superior instruments like laser cutters and welders. That’s what Sui and Transfer provide with higher developer instruments,” mentioned Rooter.

In accordance with the mission’s announcement on X, Suilend’s mainnet launch is at the moment accessible to beta move holders.

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