The team members of Solend, a DeFi lending protocol on the Solana blockchain, have delivered Suilend, its initial project beyond the Solana ecosystem. Suilend utilizes the DeFi knowledge of the team members differently, using the Move programming language and the potential and high level tools of Sui.
Solend holds the ninth position in the list of the biggest DeFi protocols on Solana. It takes credit for having $212 million in terms of total value locked (TVL). This makes it the biggest lending protocol, and it comes with over 170,000 users involved in borrowing and lending more than seventy sorts of assets.
Suilend is on a new-age blockchain network created for upgradability and super-fast transaction settlements. DeFi protocols on Sui have registered tremendous growth potential during the past ten months following its deliverance. It presently stands for more than a collective $500 million TVL.
For creating Sui, Rooter, a nickname for the Founder of Solend, they mentioned that building on Ethereum and Solana is slightly backdated. In contrast, they intend to create more advanced products which require absolute new-age tools. That is exactly what Sui and Move make available.
Presently, the latest protocol is active and prepared to link with Sui’s list of DeFi choices, providing the users of DeFi with multiple options.
Source: https://www.cryptonewsz.com/solend-expands-defi-horizons-with-suilend-on-sui-blockchain/