DeFi
Solana’s DeFi Leading Solend Rebrands to Save Money, Introduces LST Stablecoin
Vladislav Sopov
Solana Lending Protocol Solend Announces Large-Scale Rebranding Campaign, Introduces New Domain Name and Services
Read U.TODAY on
Google News
Solend, a multipurpose lending protocol on Solana (SOL), is rebranding to Save and moving to the save.finance domain. It is also inviting Solana DeFi enthusiasts to experiment with its three new products, including a stablecoin, an LST, and a meme coin short-selling platform.
Solana-based Solend rebrands to Save, introduces liquid staking and native stablecoin
Solend, once the largest Solana DeFi protocol by TVL, shares details of its deep rebranding campaign. The protocol will operate as To safeguard to the save.finance domain, and its toolbox will be enriched with three brand new offers.
Besides the interesting product developments, special attention has been paid to the UI/UX, with the aim of simplifying integration and making the platform easier to navigate.
Save’s new product lineup includes SUSD, Save’s native decentralized stablecoin, featuring the ability to borrow at 0% interest against SOL.
Alongside the new native stablecoin, Save is introducing saveSOL, a liquid staking token for SOL. It integrates leveraged staking strategies that allow users to earn yield while capturing the benefits of holding SOL. saveSOL will unlock a wealth of opportunities to gain exposure to SOL staking while earning boosted APY.
The Save team is excited about the opportunities the new rebrand opens up for DeFi on Solana (SOL) and highlights its critical role in the growth of the protocol:
Save represents the culmination of everything the Solend team has learned over the past three years. It has become the leading DeFi protocol on Solana, culminating in over $1 billion in TVL. More than just a rebrand, Save better reflects the project’s position in the DeFi landscape and allows it to evolve into a multipurpose protocol.
As covered Previously, Solend released a version on Sui (SUI) in December 2023 and was one of the first top-tier DeFis on Solana (SOL) to expand beyond its inaugural network.
Reintroduction of a crucial product for the DeFi scene Solana (SOL)
The third extension of Save’s product line, dumpy.fun, allows users to short Solana meme coins. dumpy.fun expands the ways in which traders can profit from meme coins when their prices move in either direction.
Solend launched in 2021 with $6.5 million in funding from blockchain VCs including Dragonfly Ventures, Polychain Capital, Race, Coinbase Ventures, and Solana Ventures.
The launch of Save will build on Solend’s product suite and is expected to reintroduce its best-in-class instruments to Solana’s DeFi community.
About the Author
Vladislav Sopov
Blockchain analyst and writer with a scientific background. 6+ years in computer analysis, 3+ years in blockchain.
I have worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)