Suilend, a blockchain protocol for lending with over $200 million of total value locked (TVL) has entered the Sui Network. This step is the first time when Suilend is making the first step outside the Solana ecosystem.
Sui Network is a platform that employs blockchain technology to have its total value lock (TVL) of above $500 million recently. Sui getting Suilend is viewed as a major stride to advance the DeFi space on Sui since it imports Suilend’s competence and experience of constructing stablecoin protocols into the Sui ecosystem.
Suilend’s introduction to Sui community is a great move as Sui gives secured operation. The Sui platform language comes out of the box with a built-in security for smart contracts, and Zellic, Ottersec, and other security firms audit the projects like Suilend.
Sui also has the fast transaction ability that enables the system to handle a large number of transactions within a few seconds to seconds. However,it also offers the least latency in the industry, and its scale is capable of handling up to 297,000 transactions per second due to its horizontal scaling.
“We are delighted to welcome a protocol with the background of performance and success of Suilend to the Sui ecosystem,” said Greg Siourounis, Managing Director of the Sui Foundation. “Sui’s blistering transaction speeds, infinite scalability and pervasive efficiency are tailor-made for DeFi projects like Suilend, and we look forward to watching their continued growth and success on Sui.”
The coming launch is anticipated to reinforce Sui’s authority in the DeFi ecosystem with a continuous and increased activity.
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