Solend’s first venture outside Solana is the Suilend lending protocol, demonstrating Sui’s technology’s reliability.
Solend’s first non-Solana extension, Suilend, opened on the Sui Network today. Solend, which has over $200 million in total value locked (TVL) across 170,000+ users and 70+ assets, brings its industry-leading lending protocols and unparalleled DeFi expertise to the Sui ecosystem, deepening it quickly.
Solend founder Rooter said, “Developing on Ethereum and Solana felt like building a cathedral with chisels and hammers” about the debut. You can build amazing things—cathedrals are among the most beautiful human creations. We need laser cutters and welders to create rocket ships. Sui and Move give greater developer tools.”
Bluefin, a growing DEX with monthly transactions over $100 million, recently committed solely to Sui over Arbitrum for V2 development and revealed its roadmap through 2024.
DeFi players prioritize security, and Solend on Sui leverages Sui’s industry-leading security. Solend launches on Sui to take advantage of Move language’s smart contract security capabilities. Partnerships with Zellic and Ottersec, renowned blockchain security firms, require thorough evaluations of projects like Suilend to ensure high security standards.
Sui’s parallel processing for most transactions will aid Suilend. Sui has the lowest latency in the industry and supports horizontal scaling, with a max throughput of 297,000 transactions per second and a time-to-finality of 480 milliseconds.
“We are delighted to welcome a protocol with the background of performance and success of Suilend to the Sui ecosystem, Sui’s blistering transaction speeds, infinite scalability, and pervasive efficiency are perfect for DeFi projects like Suilend, and we look forward to their continued growth and success on Sui.”
Sui Foundation Managing Director Greg Siourounis
This strategic move comes after Sui reached $500 million Total Value Locked (TVL), placing it in the top 10 DeFi ecosystems worldwide. Over the past month, $310 million in Ethereum assets have migrated to Sui via Wormhole, surpassing all other blockchain transactions, demonstrating rising faith in the ecosystem’s DeFi capabilities.
