back28 Jul 20222 min read
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Solend’s Got a Surprise | Interview

Cōnfīdentia (n.): Assurance, Confidence, Boldness

There is no network like the Pyth network. Pyth is unlocking the best data for equities, commodities, FX, and crypto to empower pioneers across the DeFi space. The Confidentia is your weekly tidbit of alpha from these builders — but that’s a secret between us, OK?

This week, we’re sitting down with Solend, the leading borrow-lending platform on Solana.

Solend describes themselves as “the autonomous interest rate machine for lending on Solana”. They’re also Solana’s largest lending platform by TVL. Solend’s also got a surprise brewing. You can’t spell permissionless pools without #PoweredByPyth.

What is Solend?

Solend is an algorithmic, decentralized protocol for lending and borrowing on Solana. With Solend, anyone with an internet connection can earn interest or take a collateralized loan against their assets on Solana. And it costs next to nothing!

With over $300M in deposits, Solend allows you to borrow 48 assets across 17 pools.

How does Solend use Pyth Price Feeds?

Solend uses Pyth’s oracle prices and confidence intervals to actively track its users’ account health and to determine liquidations!

Permissionless Pools are now live! What does this mean?

Permissionless Pool is a type of isolated pool where any user of Solend can launch. This feature unlocks new long-tail assets to be listed within the Solend platform. Furthermore, Permissionless Pool provides a new revenue stream for users, directly from the fee sharing.

Users will ultimately benefit from Permissionless Pool feature as they can launch whatever pools they want, borrow against the tokens they have in the pools, and create synthetic longs or shorts through these pools.

Whats next for Solend?

Relying on Pyth oracles, Solend has listed most of the high quality assets on Solana and attracted millions of deposits to each of them. With permissionless pools launching soon, the roadmap for a lending protocol has been completed with lots of assets and huge TVL!

Despite all of that initial success, the team is still going full speed ahead with their motto of building a terrific product, wherever users are at. Plans for multi-chain and additional features like margin trading are in place!

Stay tuned as Solend goes from a large lending protocol on Solana to a super-app in the multi-chain world.

Get Involved

Stay up to date in the Solend Discord and Twitter and blog.

We can’t wait to hear what you think! Feel free to join the Pyth Discord, follow Pyth on Twitter, and join the Telegram to learn more and ask any questions you may have. You can also learn more here.

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