Suilend (SEND)

Lending and Borrowing

Suilend allows users to lend their crypto assets to earn interest or borrow assets by providing collateral.

Swapping

Users can swap different crypto tokens easily within the platform.

Strategies

Suilend offers various strategies to help users maximize their returns on crypto assets.

Additional Features

The platform includes tools like SEND for transfers and a Bridge for moving assets between blockchains.

For more details, visit Suilend's website.

Advantages of Suilend

• Largest lending protocol on Sui, built by the experienced team behind Solend.
• Rapid growth with over $1 billion in total value locked (TVL) and 50,000+ monthly active wallets.
• Offers the SEND token, which allows holders to participate in governance decisions through the upcoming DAO.
• Integrates lending with deep liquidity via STEAMM, a Superfluid AMM launched in beta.
• Distributes daily reward points to users who deposit assets, encouraging active participation.
• Uses reliable price data from Pyth Network, sourced from major exchanges and market makers.
• Open-source smart contracts with a bug bounty program to encourage security improvements.
• Supports liquidity through SpringSui Standard, allowing users to earn staking rewards while maintaining asset flexibility.

Disadvantages of Suilend

• Possibility of "bad debts" if liquidated assets do not cover loans during market turmoil.
• Risk of smart contract exploits that could lead to theft or freezing of funds.
• Newer or riskier tokens are isolated to manage risk, which may limit some asset options.
• As a DeFi protocol, it requires understanding of lending and borrowing mechanics to use effectively.

Founders

Suilend was founded by the pseudonymous founder known as Rooter, who also founded Solend, the popular lending protocol on Solana. The team behind Suilend has extensive experience in DeFi and built Suilend as their first project outside the Solana ecosystem.

Team Background

The Suilend team brings expertise from Solend and has years of experience navigating crypto markets. They leverage the Move programming language and Sui blockchain’s performance to create a fast, secure lending protocol.

Investors and Support

Suilend has raised funding from investors like Robot Ventures, Delphi Ventures, and others, supporting its growth and development on the Sui network.

For more details, visit the official website: https://suilend.fi/

Investors in Suilend

Suilend has raised a total of $6 million in funding through two rounds in 2024. The main investors include:

• Robot Ventures (lead investor)
• Delphi Ventures
• Mechanism Capital
• DeFi Alliance
• Karatage
• AllianceDAO
• Big Brain Holdings
• Figment Capital
• Comma3 Ventures
• Mysten Labs
• Starkiller Capital
• Quantstamp
• Bodhi Ventures
• Side Door Ventures
• Nonce Classic
• MrBlock
• Angel investors such as Balaji Srinivasan and DCFGod

These investors are well-known in the crypto and blockchain space, supporting Suilend’s growth and development on the Sui blockchain.

Halal Status of Suilend

• Answer: No
• Reason: There is no specific information or certification indicating that Suilend is Shariah-compliant or halal. Without clear evidence of compliance with Islamic finance principles (such as avoidance of riba/usury and ethical business practices), it cannot be confirmed as halal.