Suilend exits beta phase, achieving significant milestones in blockchain development

Suilend, a cutting-edge blockchain project, has officially emerged from its beta phase, marking a significant milestone in its journey towards revolutionizing decentralized technology. The public can now access Suilend, the ground-breaking lending protocol created by the Solend team, as it has officially exited its beta testing phase. Using the Sui Network, Suilend marks Solend’s first step outside the Solana ecosystem.

This is a big step forward for the platform, as Suilend may now accept users without requiring them to have a beta pass through NFT. Suilend has drawn over $30 million in total value locked (TVL) since its beta launch on March 11, 2024, and has amassed a user base of over 3,000.

The Solend team contributes their wealth of experience and knowledge to the Sui blockchain. They are well-known for their prosperous lending system on Solana, which has $260 million in TVL and a thriving community of 170,000 users. This move is a calculated expansion that uses their extensive lending industry knowledge.

Suilend underwent rigorous testing and development during its beta phase, garnering valuable feedback from users and refining its features and functionality to ensure a seamless and robust platform. As it transitions to a fully operational state, Suilend stands poised to deliver on its promise of providing a scalable, secure, and user-friendly blockchain solution.

One of Suilend’s key milestones is the successful deployment of its mainnet, which serves as the foundation for its decentralized ecosystem. The mainnet launch represents a crucial step towards realizing Suilend’s vision of enabling frictionless peer-to-peer transactions, smart contract execution, and decentralized applications (DApps) on its platform.

Additionally, Suilend has attracted a growing community of developers, enthusiasts, and stakeholders who are actively engaged in shaping the platform’s future. Suilend has demonstrated impressive scalability and performance capabilities, handling significant transactions with minimal latency and congestion. This scalability, coupled with Suilend’s robust security measures and developer-friendly infrastructure, positions the platform as an ideal choice for a wide range of decentralized applications and use cases.

Commenting on the exit from beta, the CEO of Suilend expressed enthusiasm about the platform’s prospects, stating, “Exiting beta is a significant milestone for Suilend and a testament to our team’s hard work and dedication. We are excited to transition into this new phase of development and continue building towards our vision of a more decentralized and interconnected world.”

Suilend gains from Sui’s remarkable performance attributes, which include low latency, scalable design, and parallel processing of most transactions. Setting a new standard for efficiency and scalability in DeFi, Sui’s remarkable throughput of up to 297,000 transactions per second is combined with a transaction finality time of roughly 480 milliseconds.

Suilend uses Pyth Network, which gathers pricing information from some of the world’s biggest market makers, trading houses, and exchanges. These entities provide their proprietary data on-chain for smart contract applications to aggregate and distribute.

As Suilend enters this new chapter, the platform remains committed to driving innovation, fostering collaboration, and empowering developers and users to harness the full potential of blockchain technology. With its impressive achievements and ambitious roadmap, Suilend is poised to make a lasting impact on the blockchain industry and pave the way for a more decentralized future.