SolendPrice

(SLND)

Solend, recently rebranded as Save, is a decentralized lending and borrowing protocol built on the Solana blockchain. Launched in 2021 by pseudonymous founders including Rooter, the project was designed to overcome the high costs and slow transaction times often associated with decentralized finance on other networks. At its core, it functions as an algorithmic money market, allowing users to earn interest by depositing assets or access liquidity by borrowing against their holdings. The protocol operates using a peer-to-pool model. This means that instead of individual lenders and borrowers matching directly, deposits are grouped into liquidity pools. Interest rates and collateral requirements are determined automatically by algorithms based on the supply and demand within these pools. Key technical features include flash loans, which are uncollateralized loans that must be repaid within the same transaction block, and isolated lending pools that allow for the inclusion of specific assets with unique risk profiles. The native token associated with the project is SLND. It serves as both a utility and governance token, allowing holders to participate in the decision-making process for protocol upgrades and parameter adjustments. Following its rebranding to Save in mid-2024, the project expanded its scope beyond simple lending. The team introduced a broader suite of decentralized finance products, including SUSD, a decentralized stablecoin that allows borrowing against collateral at zero interest. Other additions include saveSOL, a liquid staking token that allows users to earn staking rewards while keeping their assets liquid, and a specialized tool called dumpy dot fun for shorting certain volatile assets. In late 2024, the project initiated a migration process for the SLND token to a new token called SAVE to align with its updated identity. This transition included incentives for long-term participants and aimed to integrate the token more deeply into the expanded ecosystem. The project is backed by several prominent venture capital firms, including Dragonfly Capital, Polychain Capital, and Coinbase Ventures. Throughout its history, the protocol has emphasized decentralization and permissionless access, seeking to provide a transparent financial layer for the Solana ecosystem. Learn more

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