Solend Expands to Sui Blockchain, Strengthening DeFi Momentum
Solend, the leading lending and borrowing protocol on Solana, is set to launch on the Sui blockchain. This marks Solend’s first integration on a blockchain other than Solana and highlights their confidence in Sui’s technology and long-term potential as a partner. With over $140 million in total value locked (TVL) and more than 170,000 users, Solend is one of Solana’s most prominent DeFi platforms. The expansion to Sui will introduce Solend’s offerings to a new user community and attract more developers to the Sui ecosystem.
Solend Chooses Sui for Developer Experience
Rooter, Founder of Solend, explained that the team chose to build on Sui because of its unique developer experience. While most of the team is focused on Solana, they have dedicated a sub-team to Sui due to its potential in improving the current state of smart contracts. Rooter emphasized that building on different blockchains is driven by each platform’s strengths and what they offer to the industry.
Solend Expansion Follows Bluefin’s Exclusive V2 Build on Sui
Following Bluefin’s announcement that they will build their V2 exclusively on Sui, Solend’s expansion news comes as another significant development for the Sui blockchain. Bluefin is an emerging DEX with over $100 million in daily volume. These endorsements highlight the growing recognition of Sui as a reliable and efficient platform for DeFi projects.
Security and Performance Features of Sui
Sui prioritizes security by incorporating protection features into its Move language and partnering with leading blockchain security firms for rigorous audits. This ensures that projects, including Solend, meet the highest security standards and are compatible with the Sui blockchain. Additionally, Sui offers top-tier performance with parallel processing, resulting in low latency and horizontal scaling. The network has already achieved impressive throughput and time to finality, making it an attractive choice for DeFi applications.
Easy Onboarding and Authentication on Sui
Sui simplifies onboarding for new users through its native zkLogin feature. This allows users to authenticate using familiar Web 2 social logins like Google and Twitch, eliminating the need for managing wallets and seed phrases. By incorporating zkLogin, DeFi protocols on Sui can provide mainstream accessibility without compromising custody.
Solend’s Success and Collaboration with Sui
Greg Siourounis, Managing Director of the Sui Foundation, expressed excitement about welcoming Solend to the Sui ecosystem. Siourounis highlighted that Solend’s achievements are unmatched in the industry, and their collaboration with Sui aligns with the scalability and efficiency that DeFi projects require.
The Solend team brings extensive experience from notable companies in both the Web2 and Web3 worlds. With support from investors like Dragonfly, Polychain, Race Capital, and Coinbase Ventures, Solend is well-positioned for continued growth in the DeFi space.
Contact
Sui Foundation
[email protected]
Hot Take: Solend Expands to Sui Blockchain, Strengthening DeFi Ecosystem
Solend’s expansion to the Sui blockchain demonstrates their commitment to diversifying their offerings and exploring new opportunities. By integrating with Sui, Solend gains access to a vibrant community of users and further contributes to the growth of the Sui ecosystem. This collaboration highlights the importance of scalability, security, and developer experience in the DeFi industry. As more projects recognize the potential of different blockchains, we can expect to see increased innovation and collaboration across various platforms. Solend’s success on Solana and their strategic expansion to Sui position them as a leading player in the evolving DeFi landscape.
By
By
By