Solend expands to Sui blockchain

According to Coincu, the lending protocol Solend is expanding to the Sui blockchain, aiming to broaden its decentralized finance (DeFi) coverage and contribute to the Sui ecosystem. Sui has partnered with top security companies for a rigorous audit of Solend's code, ensuring the highest safety standards and protection for assets. This move is expected to introduce Solend's robust DeFi products into new user communities while attracting more developers for the Sui ecosystem. Currently, Solend has a total value locked (TVL) of over $140 million on Solana, supports over 70 assets, boasts 170 thousand users and stands as the largest lending platform on Solana. By processing transactions in parallel, Sui offers high performance with low latency and scalable operations. The peak throughput of Sui can reach up to 297000 transactions per second with an approximate final confirmation time of 480 milliseconds. The expansion of Solend onto the Sui blockchain signifies a strategic alliance between two thriving blockchain ecosystems that could potentially attract a wider user base in DeFi sector and increase development opportunities.