Solend (SLND) is a decentralised lending and borrowing protocol built on the Solana blockchain. It allows users to lend and borrow various assets, including SOL, USDC, USDT, and ETH, among others. The platform is designed to provide an efficient and cost-effective lending experience by leveraging Solana’s high transaction speeds and low fees. One of its key features is permissionless pool migrations, enabling users to move funds between pools without requiring special permissions.
Solend operates as an algorithmic protocol for lending and borrowing on the Solana blockchain. It utilises Solana’s Proof of History (PoH) combined with Proof of Stake (PoS) to ensure fast transaction processing and scalability.
The protocol automates lending and borrowing processes using smart contracts, which determine interest rates through an algorithmic interest rate machine. Additionally, Solend supports a wide range of crypto assets, including native coins, stablecoins, and memecoins, providing users with diverse opportunities for earning interest and leveraging their holdings.
Solend serves multiple applications within the decentralised finance (DeFi) sector, including:
Solend was created as a lending and borrowing protocol on Solana to expand the blockchain’s DeFi ecosystem. While details about its founding team are not publicly available, the protocol has achieved several milestones, including: