Solend, a lending protocol from Solana, has introduced that it has been renamed Save and relaunched on save.finance. To broaden the monetary choices accessible to Solana customers, Save is rising with the launch of three further merchandise: an LST, a memecoin shorting app, and a stablecoin.
The teachings discovered by the Solend workforce over the previous three years are summarized in Save. Raised to be Solana’s high DeFi protocol, with a TVL of over $1 billion. Greater than only a title change, Save helps the undertaking change into extra multi-functional and extra precisely mirror its place within the DeFi panorama.
With a very redesigned person interface, Save debuts as a significant development over Solend. The UI/UX has been rigorously thought out to streamline onboarding and enhance platform utilization.
Concurrently with the introduction of save.finance, three new merchandise have been launched. Save will cater to a brand new technology of onchain customers in a number of methods, as evidenced by SUSD, saveSOL, and dumpy.enjoyable. Decentralized stablecoin SUSD permits borrowing towards SOL with 0% curiosity. Deep integration with Save will broaden the methods through which SUSD can be utilized on Solana, whereas enabling its fast and safe development.
A liquid staking token for SOL known as saveSOL may also be launched by Save. Leverage deployment techniques are included, permitting customers to take pleasure in the advantages of proudly owning SOL whereas incomes returns. With saveSOL, a large number of alternatives change into accessible to expertise SOL staking and earn increased APYs.
Dumpy.enjoyable, the ultimate product launched along with Save, permits customers to create quick Solana memecoins. The way in which merchants can revenue from memecoins is expanded by dumpy.enjoyable.
With $6.5 million in funding from blockchain enterprise capital corporations together with Dragonfly Ventures, Polychain Capital, Race, Coinbase Ventures, and Solana Ventures, Solend made its debut in 2021. Save’s debut will additional the whole lot Solend has been striving for over the previous three years and extra strived for. precisely mirror the corporate’s rising place throughout the Solana ecosystem.