Solend’s algorithmic lending and borrowing has taken over the industry big time.

Having made its presence felt strongly since it’s inception, the project is taking giant leaps ahead at present.

The industry has never seen such an outstanding project as Solend – which is an autonomous interest rate machine in the ever-growing Solana ecosystem. This algorithmic decentralized protocol has been the latest advancement around the zone. Coming across as a platform for borrowing and lending built on the Solana blockchain, the project has already picked up momentum since its launch. The world is aware about DeFi’s potential which can change the entire financial system, though there are certain loopholes which have the potential to weaken its workings, expensive rate of transactions being one of them which can reach up to $300, which is quite a big amount, one of the reasons why potential users shy away from this space. To tackle this situation Solend has been brought up that will cheapen the transactions involved in borrowing, supplying and withdrawing in a much faster way.

To keep the high transaction costs at bay, Solana is the best option, although there is no lending ecosystem on the network which is capable enough to take care of this situation. With the introduction of Solend on Solana, anyone can take a loan against their assets and earn interest on their investments. Furthermore, the prices are quite affordable and take place at higher speeds, which is a big draw for investors to choose this network. The project has a bright future owing to these investor friendly qualities. The integrated tokens also work in the system seamlessly. These tokens can be used to earn interest or can be a front for collateral against a loan. By integrating the use of third party tokens on its platform, Solend has improved their potential user base as it allows the use of established tokens which is a boon for users.

Solend has already received an overwhelming response from its community and strives to take giant leaps going ahead by introducing many features which would immensely benefit its users