Solend, a decentralized finance (DeFi) lending platform operating on the Solana blockchain, has launched Suilend, its debut project outside the Solana ecosystem. Suilend employs the team's DeFi expertise in a different manner, utilizing the Move programming language and the advanced capabilities of Sui.

Solend ranks ninth among the largest DeFi protocols on Solana, boasting a total value locked (TVL) of $212 million. It stands out as the leading lending protocol, with over 170,000 users engaging in borrowing and lending across more than seventy different assets.

Suilend operates on a cutting-edge blockchain network designed for flexibility and rapid transaction settlements. DeFi protocols on Sui have demonstrated significant growth potential since their inception, accumulating a combined TVL of over $500 million in the past ten months.

According to the Founder of Solend, known as Rooter, building on Ethereum and Solana may seem outdated, prompting the creation of more advanced products requiring modern tools, precisely what Sui and Move offer.

The newly launched protocol is now active and ready to integrate with Sui's array of DeFi offerings, providing users with diverse options in the DeFi landscape.