SOLANA — SOLEND GIVES DEPOCKET A HANDSHAKE
Solend is a decentralized, algorithmic protocol for lending and borrowing platforms on Solana. In a DeFi world, lending and borrowing have proved to be essential for the development of an ecosystem. However, current services are tending to be pricey and slow. Solend can scale to be hundreds of times faster and less expensive on Solana. Thus, the goal of Solend is to be the most user-friendly and safe option.
Unique selling points:
- High scalability: The utilities and services inside the platform have high scalability and connectivity with other protocols.
- Low fee: Because Solend is built on the Solana blockchain, transaction costs are extremely low compared to Ethereum, on which users may have to pay tens of dollars for transaction fees. For small-scale investors, high transaction fees might have a big impact on trading motivation.
- Network Effects: Lending and borrowing are one of the important tools in the cryptocurrency ecosystem. Solend has integrated numerous tokens into the Solana to bring about synergies and win-win for both sides. Therefore, Solend can promote the explosive development of other projects in the ecosystem.
- Other outstanding features: The interface is user-friendly and easy to use. The interest rate is calculated automatically by an algorithm. Last but not least, Solend is expected to be managed by a DAO, allowing users to participate in decentralized governance.
Balances and investments on Solana have been attracting DePocket for a long time. Since Solana’s ecosystem began to grow, the number of projects that provide financial services such as staking, lending, borrowing and its users has also increased. Although they are also quite modest compared to dApps on other blockchains like Ethereum or Binance Smart Chain, in terms of TVL. That can’t stop DePocket from integrating Solana’s dApps, though. The proof is that the top staking/ lending/ borrowing dApps based on TVL, such as Saber, Lido, or Raydium, joined us. And the time has come for Solend.
With nearly 20 available pools and dozens of supported tokens, investors may find it difficult to manage their investments across those pools. Don’t worry, let DePocket help you. Simply copy the wallet addresses that you used to invest and paste them into the DePocket app. All your investments on Solend are now tracked and displayed.
Solana has had a considerable recovery against other coins like Bitcoin and Ethereum since the beginning of the second half of 2022. And Solana’s ecosystem is also expected to follow the same path in the near future. So this is a good time for those who are investing in SOL and tokens on Solana to try DePocket.
Try our demo wallet here: https://app.depocket.com/addresses/DdZR6zRFiUt4S5mg7AV1uKB2z1f1WzcNYCaTEEWPAuby
Join the DePocket community: