Save, formerly known as Solend, has recently rebranded and relaunched its platform on Solana to offer a wider range of financial products and services to its users. This strategic evolution signals a new chapter for the platform as it aims to provide enhanced financial opportunities for the Solana community.
The rebranding to Save comes after three years of growth and development for Solend, during which it established itself as a prominent DeFi protocol on Solana, with a peak TVL of over $1 billion. The new Save platform features a redesigned interface focused on improving user experience. The UI and UX enhancements aim to streamline the onboarding process and simplify navigation for both new and experienced users.
Save introduces three innovative products: SUSD, saveSOL, and dumpy.fun. SUSD is a decentralized stablecoin that allows users to borrow against SOL at 0% interest. This integration into the Save platform enables rapid and secure utility expansion across the Solana network. saveSOL is an LP token for liquid SOL staking, offering users strategies to maximize yields on their holdings. dumpy.fun is designed for shorting Solana’s memecoins, providing traders with a new profit-making opportunity in a trending market.
In 2021, Solend raised $6.5M from top blockchain venture capital firms such as Dragonfly Ventures, Polychain Capital, Race, Coinbase Ventures, and Solana Ventures. These investments have fueled the platform’s growth and innovation, culminating in the rebranding to Save and the introduction of new products tailored to the evolving needs of the Solana ecosystem.
The Save rebranding reflects years of dedicated work to establish Solend as a versatile DeFi protocol within the Solana ecosystem. With the support of industry experts like Jason Newey, a seasoned journalist specializing in NFTs, the Metaverse, and Web3 technologies, Save is well-positioned to continue its mission of providing cutting-edge financial services to the Solana community.
Save’s rebranding and platform upgrade mark a significant milestone in its journey towards becoming a comprehensive financial hub for the Solana community. With a strong foundation, innovative products, and strategic partnerships, Save is poised to play a vital role in the rapidly expanding world of decentralized finance on Solana.