A decentralized protocol for borrowing on the Solana blockchain.
Solend is a decentralized protocol on the Solana blockchain. Solend is based on an algorithmic approach, allowing users to participate in borrowing and lending. By lending tokens, users receive a reward. The project has been in existence since the summer of 2021.
Solend can be used in a browser or from mobile devices. To get started, you need to link a wallet that supports Solana and purchase SOL to pay the fee. Users have 17 assets available for interaction. Users can deposit funds as collateral to get a loan, based on the money spent a maximum limit is set. Information material from community CryptoDeFix. Borrowing users pay a commission for the loan, each asset has a different value.
Users who supply the borrowing users receive remuneration in the form of APY (Annual percentage yield). It is shared by all users in the pool and issued in the same token as the offer. The project also has its own SLND token. With it, users can participate in the voting for the future of the project (DAO) and participate in the liquidity pools.
- Asset Lending
- Lending assets
- 17 assets for interaction
- APY reward
- SLND token
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