Nikolas Sargeant
Solana lending protocol Solend announced on Wednesday, July 24th, that it has rebranded to Save and relaunched on Save.Finance.
In a press release shared with Cryptowisser, the team said Save is expanding with three new products designed to expand the financial opportunities available to Solana users. The products include a stablecoin, an LST, and an app for shorting memecoins.
The rebrand represents what the Solend team has learned over the last three years. Save is an indication of the project’s position within the DeFi landscape, empowering it to evolve into a multi-purpose protocol.
Save.Finance launches with a fully redesigned interface, indicating a significant improvement over Solend. The team focused on improving the UI/UX, ensuring that it is simpler to use and makes the platform easier to navigate.
The team announced the launch of three products alongside the rebrand, SUSD, saveSOL, and dumpy.fun. SUSD is a decentralized stablecoin that allows 0% interest borrowing against SOL. Its integration with Save will allow SUSD to grow quickly and safely while increasing how it can be utilized on Solana.
SaveSOL is Save’s liquid staking token. The product integrates leveraged staking strategies that allow users to earn yield while capturing the upside to holding SOL. Save believes that saveSOL will unlock a host of opportunities for gaining exposure to SOL staking while earning boosted APYs.
Dumpy.fun is the third product launched by the Save team and it allows users to short Solana memecoins. The product increases the ways traders can make money from memecoins.
Solend has been around since 2021 after raising $6.5 million from blockchain VCs including Dragonfly Ventures, Polychain Capital, Race, Coinbase Ventures, and Solana Ventures. Its rebrand to Save reflects its growing role within the Solana ecosystem.
Save, formerly Solend, is a Solana protocol and platform for lending and borrowing crypto assets with low fees and high scalability. Rebranded as Save, the platform enables Solana users to access a broad range of financial services spanning major verticals from borrowing to trading. The Save protocol empowers users to explore emerging onchain opportunities and earn yield on their assets.
