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Solend taps Sui for new DeFi lending protocol, Suilend

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The staff 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 submit. With the Suilend protocol, Solend’s staff goals to leverage excessive throughput and fast settlement instances, which is especially useful for DeFi protocols.

Rooter, the pseudonymous founding father of Solend, mentioned that the staff’s purpose 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 few of the most lovely 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 supply with higher developer instruments,” mentioned Rooter.

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

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