Crypto Analyzer

Solend collaborates with Sui to introduce Suilend, a cutting-edge DeFi lending protocol

Solend, a prominent lending platform operating on the Solana blockchain, has recently unveiled their latest project, Suilend, in collaboration with the Sui blockchain. Suilend is a DeFi lending and borrowing protocol developed on the Move programming language, leveraging the high performance and advanced tooling capabilities of Sui.

Currently ranked as the ninth largest protocol on the Solana blockchain, Solend boasts a total locked volume of $212 million, establishing itself as a leading lending protocol with a user base of over 170,000 individuals engaged in borrowing and lending activities across more than 70 different asset types.

The growth of DeFi protocols on the Sui blockchain has been exponential over the past 10 months, with a collective volume locked exceeding $500 million, as highlighted in a recent blog post by Sui. With the introduction of the Suilend protocol, the Solend team is strategically utilizing the high throughput and rapid settlement times offered by Sui, catering to the specific needs of DeFi protocols.

Rooter, the anonymous founder of Solend, emphasized the team’s mission to construct innovative solutions using the advanced functionality facilitated by Sui and Move.

In Rooter’s words, “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.”

As per the project’s announcement on X, the mainnet launch of Suilend is currently accessible exclusively to beta pass holders, marking an important milestone in the evolution of DeFi lending protocols within the blockchain ecosystem.