Press Release

Grand Cayman, Cayman Islands, March 11th, 2024 – Solend’s first expansion outside the Solana ecosystem, Suilend, has officially launched on the Sui Network. This move highlights the confidence in Sui’s technology and adds to the growing depth of the Sui ecosystem.

Suilend is a lending protocol developed by Solend, which currently has over $200 million in total value locked (TVL) across 170,000+ users and supports 70+ assets. By leveraging Sui’s industry-leading security features and partnership with top blockchain security firms, Suilend ensures the safety and protection of its users’ assets.

The launch of Suilend on Sui also benefits from Sui’s parallel processing and blazing-fast transaction speeds, achieving a peak throughput of up to 297,000 transactions per second and a time-to-finality of approximately 480 milliseconds.

Sui’s Managing Director, Greg Siourounis, expressed excitement about welcoming Suilend to the ecosystem and stated, “Sui’s blistering transaction speeds, infinite scalability, and pervasive efficiency are tailor-made for DeFi projects like Suilend, and we look forward to their continued growth and success on Sui.”

This strategic move comes as Sui recently surpassed the $500 million TVL milestone, solidifying its position among the top 10 DeFi ecosystems globally. The ecosystem has also seen a significant influx of assets through the Wormhole bridge, with over $310 million migrating from Ethereum to Sui in the past month alone.

Contact

Sui Foundation
[email protected]

Share this article

Categories