tl;dr
Suilend, Solend’s first expansion outside the Solana ecosystem, officially launched today on the Sui Network. Solend – which boasts over $200 million in TVL (total value locked) across more than 170,000 users with support for over 70 assets – now brings its unparalleled DeFi expertise and experience...
Suilend, Solend’s first expansion outside the Solana ecosystem, officially launched today on the Sui Network. Solend – which boasts over $200 million in TVL (total value locked) across more than 170,000 users with support for over 70 assets – now brings its unparalleled DeFi expertise and experience building industry-leading lending protocols to the Sui ecosystem in a move that adds to the quickly expanding depth of the Sui ecosystem.
Security is a distinct focus for participants in the DeFi space, and with the launch of Solend on Sui, the protocol is leveraging a network in Sui that has industry-leading security. By launching on Sui, Solend capitalizes on the inherent security features integrated into the Move language, which provides built-in protections for its smart contracts.
Suilend will also benefit from Sui’s parallel processing for most transactions. Sui boasts the lowest levels of latency in the industry and facilitates horizontal scaling, achieving a peak throughput of up to 297,000 transactions per second and a time-to-finality of approximately 480 milliseconds.
This strategic move comes as Sui recently surpassed the $500 million TVL milestone, firmly establishing itself within the top 10 DeFi ecosystems globally. Over the past month alone, a staggering $310 million in assets has migrated from Ethereum to Sui via Wormhole, eclipsing all other blockchain transfers combined, signaling the growing trust in the ecosystem’s DeFi capabilities.
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