Solend Expands to Sui Blockchain, Diversifying its Offerings
Solend, the leading lending and borrowing protocol on Solana, has announced its upcoming launch on the Sui blockchain. This marks Solend’s first deployment on a blockchain other than Solana and demonstrates their confidence in Sui’s technology and potential as a long-term partner.
With over $140 million in total value locked (TVL) and support for more than 70 assets, Solend is the largest lending and borrowing product on Solana. It also has over 20 developer integrations, making it a prominent platform for DeFi development on Solana.
Expanding to Sui will introduce Solend’s robust DeFi offerings to a new community of users and attract more builders to the Sui ecosystem.
Bluefin Chooses Sui for Version Two of Its DEX
In addition to Solend’s expansion, Bluefin, a rising decentralized exchange (DEX) with over $100 million in daily volume, has announced that it will exclusively build its version two on the Sui blockchain. Bluefin’s decision further validates Sui’s appeal as a platform for DeFi projects.
Sui Prioritizes Security and Performance
Sui places great emphasis on security to protect its growing DeFi platform. The ‘Move’ language itself includes security features that provide unique protection for smart contracts on Sui. Additionally, Sui collaborates with leading blockchain security firms to conduct rigorous audits of project codebases, ensuring the highest security standards.
From a performance standpoint, DeFi projects on Sui benefit from parallel processing, resulting in low latency and horizontal scaling. In just four months, Sui achieved record-breaking transaction throughput and time to finality. Furthermore, Sui offers easy onboarding for new users through its native zkLogin feature, simplifying the authentication process.
Positive Outlook for Solend’s Future on Sui
The Sui Foundation is excited to welcome Solend to their ecosystem, recognizing Solend’s exceptional success in the industry. With their expertise in both Web 2.0 and Web 3.0, the Solend team brings valuable experience to the table. Backed by prominent investors, Solend is poised for continued growth and success as it expands its presence on the Sui blockchain.
Hot Take: Solend Expands to Sui, Strengthening DeFi Capabilities
Solend’s decision to expand to the Sui blockchain highlights the growing recognition of Sui’s technology and potential as a DeFi platform. By diversifying its offerings and reaching a new community of users, Solend aims to strengthen its position as a leading lending and borrowing protocol. The collaboration between Solend and Sui reflects the shared vision of innovation and excellence in the blockchain industry. As more projects like Bluefin choose Sui for their development needs, it further solidifies Sui’s position as a go-to platform for DeFi applications. With a focus on security, performance, and user accessibility, Sui is well-positioned to support the growth and advancement of the DeFi ecosystem.
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