# What is Suilend?

By [pikado](https://paragraph.com/@pikado) · 2024-10-13

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Suilend is a **Lending/Borrowing** platform built on the **Sui ecosystem**. Developed by the team behind Save (formerly known as Solend), a prominent lending protocol on Solana that once reached a Total Value Locked (TVL) of **$900 million**, Suilend aims to become a leading Lending/Borrowing solution on Sui, similar to Save's success on Solana. Currently, Suilend has not launched its token but is running a point-earning event for users who frequently participate in borrowing activities on the platform.

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### **Operational Model of Suilend**

Suilend operates similarly to conventional Lending/Borrowing projects, allowing users to collateralize assets and begin borrowing. The process is straightforward and user-friendly:

1.  **Connecting a Wallet**: Users access the platform at **suilend.fi** and connect their Sui wallet, such as Coin98 Super Wallet or OKX.
    
2.  **Collateralizing Assets**: Users select the asset they wish to collateralize and click **Deposit**. They then choose the asset they want to borrow in the **Borrow** section. If no borrowing occurs, users earn interest based on their collateralized assets.
    

Before participating, users should consider two key metrics:

*   **Loan to Value (LTV)**: This ratio indicates the maximum amount a user can borrow based on the collateral. For instance, with a 70% LTV, users can borrow an amount equivalent to 70% of their collateral's value. If market fluctuations push the LTV above the limit, part of the collateral may be liquidated to restore a safe LTV level. It is advisable to maintain an LTV of 50% to minimize liquidation risks.
    
*   **Deposit APR and Borrow APR**: These indicate the return on lending (Deposit APR) and the interest rate for borrowing (Borrow APR). A higher Deposit APR compared to the Borrow APR means users can borrow without paying interest.
    

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### **Highlights of Suilend**

Suilend offers several notable features:

*   **High Transaction Speed and Low Fees**: Built on the Sui network, Suilend enables fast transactions with low fees for borrowing and collateralizing assets.
    
*   **Experienced Team**: The development team, formerly from Save, has a strong background that may guide Suilend toward similar success.
    
*   **Asset Variety**: Due to the limited number of assets on Sui, Suilend collaborates with Wormhole to introduce wrapped tokens for major assets like ETH, SOL, and USDC.
    
*   **Competitive Interest Rates**: Suilend stands out by offering higher Deposit APRs than Borrow APRs, with borrowing rates between **1% and 5%**, compared to **2% to 15%** on other platforms.
    

In summary, Suilend is poised to establish itself as a prominent player in the Lending/Borrowing space within the Sui ecosystem, leveraging its experienced team and user-friendly features.

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*Originally published on [pikado](https://paragraph.com/@pikado/what-is-suilend)*