The team behind Solend, a popular DeFi lending protocol on the Solana blockchain, launched Suilend, its first project outside of the Solana ecosystem. Suilend leverages the team's DeFi expertise in an entirely new environment, using the Move programming language and Sui's industry leading performance and tooling.
Solend ranks as the ninth largest DeFi protocol on Solana, according to DeFi Llama. It boasts $212 million total volume locked (TVL), making it the largest lending protocol on Solana, and more than 170,000 users borrowing and lending over 70 asset types.
The new venture, Suilend, deploys to an advanced blockchain network designed for scalability and sub-second transaction settlements. DeFi protocols on Sui grew quickly over the 10 months since production launch, and now account for an accumulated over $500 million TVL.
In building the new venture, Rooter, the pseudonymous Founder of Solend, said, "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."
The new protocol is live and ready to join Sui's impressive roster of DeFi options, giving users a welcome array of choices.
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