Solend taps Sui for new DeFi lending protocol, Suilend

by Adolf Balistreri

Sui’s blockchain architecture is designed for scalability, which is important for supporting the rapid growth of DeFi platforms.

The team in the support of Solend, a high lending platform on the Solana blockchain, announced this day the commence of their unique DeFi lending and borrowing protocol powered by the Sui blockchain. Named “Suilend,” the unique challenge is constructed the consume of the Pass programming language, capitalizing on Sui’s excessive performance and evolved tooling capabilities.

Solend protocol is the ninth ideal on Solana, with a total quantity locked of $212 million, making it the leading lending protocol on the blockchain. It serves over 170,000 users who borrow and lend across over 70 asset kinds.

Since its commence 10 months ago, DeFi protocols on Sui be pleased grown quickly, now attracting over $500 million in total quantity locked, as shared in Sui’s most novel blog post. With the Suilend protocol, Solend’s team targets to leverage excessive throughput and rapid settlement times, which is in particular precious for DeFi protocols.

Rooter, the pseudonymous founding father of Solend, said that the team’s purpose with Suilend is to create “rocket ships” the consume of the evolved instruments that Sui and Pass provide.

“Constructing on Ethereum and Solana felt love building a cathedral with chisels and hammers. That’s to now not remark you might possibly possibly possibly possibly’t create great things – cathedrals are some of basically the most comely human achievements. However we are looking out to create rocket ships, and for that, you wish evolved instruments love laser cutters and welders. That’s what Sui and Pass provide with larger developer instruments,” said Rooter.

In step with the challenge’s announcement on X, Suilend’s mainnet commence is currently accessible to beta cross holders.

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