Solend, a well-known credit platform on the Solana blockchain, has announced the launch of its new lending and borrowing protocol in the decentralized finance (DeFi) space, which operates on the Sui blockchain. The project, named "Suilend," is developed using the Move programming language, providing high performance thanks to Sui technology and advanced capabilities for developers. This move allows Solend to transition from traditional development methods to creating more advanced and efficient solutions in the DeFi sector.
The Sui blockchain chosen for Suilend implementation stands out for its scalability, which is crucial to sustain the rapid growth of DeFi platforms. The Solend protocol, ranked ninth largest in the Solana ecosystem with a total locked value of $212 million, serves over 170,000 users and offers loans against more than 70 types of assets.
Since the launch of Suilend, the number of DeFi protocols on Sui has significantly increased, and the total locked value has exceeded $500 million. The Solend team aims to utilize the Suilend protocol to provide high throughput and fast settlement times, which is a significant advantage for DeFi protocols.
Ruter, the pseudonymous founder of Solend, emphasized that the team's goal is to create "rocket ships" for DeFi, using cutting-edge tools provided by Sui and Move. This marks a departure from traditional development methods akin to building cathedrals with chisels and hammers, to more modern and efficient approaches resembling the use of laser cutters and welding machines.
The launch of the Suilend mainnet is already available to beta version owners, opening up new opportunities for participants in the DeFi ecosystem.
