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    Solend taps Sui for new DeFi lending protocol, Suilend

    Solend taps Sui for new DeFi lending protocol, Suilend

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    The group 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 challenge is constructed utilizing the Move 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 varieties.

    Since its launch 10 months in the past, DeFi protocols on Sui have grown quickly, now attracting over $500 million in complete quantity locked, as shared in Sui’s latest weblog put up. With the Suilend protocol, Solend’s group 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 group’s purpose with Suilend is to construct “rocket ships” utilizing the superior instruments that Sui and Move present.

    “Developing on Ethereum and Solana felt like building a cathedral with chisels and hammers. That’s not to say you can’t build great things – cathedrals are some of the most beautiful human achievements. But we want to build rocket ships, and for that, you need advanced tools like laser cutters and welders. That’s what Sui and Move offer with better developer tools,” mentioned Rooter.

    According to the challenge’s announcement on X, Suilend’s mainnet launch is at present accessible to beta cross holders.

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