Solend, a multipurpose lending protocol on Solana (SOL), is rebranding to Save and migrating to the area save.finance. It additionally invitations Solana DeFi lovers to experiment with its three new merchandise, together with a stablecoin, an LST and a platform for shorting meme cash.

Solana-based Solend rebrands into Save, introduces liquid staking and native stablecoin

Solend, as soon as the most important Solana DeFi protocol by TVL, shares the main points of its profound rebranding marketing campaign. The protocol will likely be working as Save on the area save.finance, and its toolkit will likely be enhanced by three model new choices.

In addition to attention-grabbing product developments, cautious consideration has been given to UI/UX, with the objective of simplifying onboarding and making the platform simpler to navigate. 

Save’s stack of novel merchandise contains SUSD, Save’s native decentralized stablecoin, geared up with the chance for 0% curiosity borrowing in opposition to SOL.

Alongside the brand new native stablecoin, Save introduces saveSOL, a liquid staking token for SOL. It incorporates leveraged staking methods that permit customers to earn yield whereas capturing the upside to holding SOL. saveSOL will unlock a number of alternatives for gaining publicity to SOL staking whereas incomes boosted APYs.

Save’s group is worked up by the alternatives the brand new rebranding unlocks for DeFi on Solana (SOL) and stresses its paramount function for the protocol’s progress:

Save represents the end result of every little thing the Solend group has discovered during the last three years. Having grown to grow to be the highest DeFi protocol on Solana, peaking at over $1B in TVL. Greater than only a rebrand, Save higher displays the venture’s place throughout the DeFi panorama and permits it to evolve right into a multi-purpose protocol.

As lined by U.As we speak beforehand, Solend launched a model on Sui (SUI) in December 2023 and was one of many first blue-chip DeFis on Solana (SOL) that expanded past its inaugural community.

Reintroducing essential product for Solana (SOL) DeFi scene

The third enlargement of Save’s product stack, dumpy.enjoyable, permits customers to quick Solana meme cash. dumpy.enjoyable expands the methods wherein merchants can revenue from meme cash when their costs are shifting in each instructions.

Solend launched in 2021 with $6.5 million in funding from blockchain VCs, together with Dragonfly Ventures, Polychain Capital, Race, Coinbase Ventures and Solana Ventures.

The launch of Save will construct upon Solend’s product observe and is about to reintroduce its greatest devices to Solana’s DeFi neighborhood.

Concerning the writer

Vladislav Sopov