Lending Protocol Solend Expands to Sui Blockchain, Aiming to Broaden DeFi Reach

According to Coincu, lending protocol Solend is expanding to the Sui blockchain, marking its first deployment beyond the Solana network. This move aims to introduce Solend's decentralized finance (DeFi) offerings to a new user community and attract more builders to contribute to the growth of the Sui ecosystem. Solend has established itself as Solana's largest lending and borrowing platform, with over $140 million in total value locked (TVL) and support for more than 70 assets across 170,000 users. As part of Sui's commitment to security, the platform's Move language provides unique protection for smart contracts. Sui collaborates with leading blockchain security firms, Zellic and Ottersec, to rigorously audit project codebases, including Solend's, ensuring the highest security standards on the Sui blockchain. Sui also offers top-tier performance through parallel processing for transactions, resulting in low latency and scalable operations. With a peak throughput of up to 297,000 transactions per second and a time-to-finality of approximately 480 milliseconds, Sui has demonstrated remarkable efficiency within just four months of operation. The expansion of Solend to the Sui blockchain signifies a strategic alliance between two thriving blockchain ecosystems, promising a broader user base and increased development opportunities in the DeFi landscape.