The Solend team, a leading lending platform on the Solana blockchain, announced the launch of their new DeFi lending and borrowing protocol, operating on the Sui blockchain. The new project, named “Suilend,” is built using the Move programming language, based on the high-performance capabilities of Sui and its advanced tooling features.
Suilend is now live on mainnet!https://t.co/VPAgs46Rov pic.twitter.com/SGDInXbW3W
— Suilend (@suilendprotocol) March 11, 2024
Solend’s protocol ranks ninth in size on Solana, with a total locked value of $212 million, making it the leading lending protocol on the blockchain. It serves over 170,000 users borrowing across more than 70 asset types.
Since its launch ten months ago, the number of DeFi protocols on Sui has been rapidly increasing, with the total locked value exceeding $500 million, as reported in a recent Sui blog post. With the Suilend protocol, the Solend team aims to provide high throughput and fast settlement times, which are particularly advantageous for DeFi protocols.
Rooter, the pseudonymous founder of Solend, stated that the team’s goal with Suilend is to build “rocket ships” using advanced tools provided by Sui and Move.
Developers on other chains are building cathedrals with chisels and hammers.
To build rocket ships, you need laser cutters and welders.
That's why we #Move.
— Suilend (@suilendprotocol) February 6, 2024
According to the project announcement on X, the mainnet launch of Suilend is currently available to owners of the beta version.
@SuilendProtocol is now live on Sui! The @solendprotocol team went from “building a cathedral with chisels and hammers” to building “rocket ships” on Sui with #Move.
Give them a warm welcome and dive into the platform here! https://t.co/sHzmK2wIQy pic.twitter.com/LpM0IaoWg1
— Sui (@SuiNetwork) March 11, 2024
