Sui’s blockchain structure is designed for scalability, which is important for supporting the fast progress of DeFi platforms.
The staff behind Solend, a high lending platform on the Solana blockchain, introduced right now the launch of their new DeFi lending and borrowing protocol powered by the Sui blockchain. Named “Suilend,” the new challenge is constructed utilizing the Transfer programming language, capitalizing on Sui’s excessive efficiency and superior tooling capabilities.
@SuilendProtocol is now stay on Sui! The @solendprotocol staff went from “constructing a cathedral with chisels and hammers” to constructing “rocket ships” on Sui with #Transfer.
Give them a heat welcome and dive into the platform right here! https://t.co/sHzmK2wIQy pic.twitter.com/LpM0IaoWg1
— Sui (@SuiNetwork) March 11, 2024
Solend protocol is the ninth largest on Solana, with a complete quantity locked of $212 million, making it the main lending protocol on the blockchain. It serves over 170,000 customers who borrow and lend throughout over 70 asset varieties.
Since its launch 10 months in the past, DeFi protocols on Sui have grown quickly, now attracting over $500 million in whole quantity locked, as shared in Sui’s current weblog publish. With the Suilend protocol, Solend’s staff goals to leverage excessive throughput and fast settlement instances, which is especially helpful for DeFi protocols.
Rooter, the pseudonymous founding father of Solend, stated that the staff’s purpose with Suilend is to construct “rocket ships” utilizing the superior instruments that Sui and Transfer present.
“Creating on Ethereum and Solana felt like constructing a cathedral with chisels and hammers. That’s to not say you may’t construct nice issues – cathedrals are a number of the most lovely human achievements. However we wish to construct rocket ships, and for that, you want superior instruments like laser cutters and welders. That’s what Sui and Transfer provide with higher developer instruments,” stated Rooter.
In line with the challenge’s announcement on X, Suilend’s mainnet launch is at present accessible to beta go holders.
Suilend is now stay on mainnet!https://t.co/VPAgs46Rov pic.twitter.com/SGDInXbW3W
— Suilend (@suilendprotocol) March 11, 2024
