The Solend protocol on Solana has rebranded to Save and introduced an array of new offerings, including a decentralized stablecoin, a liquid staking token, and a meme coin shorting platform.
Rebranded as “Solana’s permissionless savings account,” Save has unveiled SUSD, saveSOL, and dumpy.fun. SUSD is a new decentralized stablecoin that offers 0% interest borrowing against Solana (SOL). The straightforward mechanism design of SUSD ensures full decentralization and aims to grow rapidly within the Save platform. Rooter, the pseudonymous founder, highlighted that SUSD’s zero-interest borrowing is more attractive compared to centralized stablecoins like USDC and USDT.
SaveSOL, another new addition, is a Solana liquid staking protocol and token that allows users to trade while earning from Solana staking. SaveSOL can also be used as collateral for borrowing SUSD.
Dumpy.fun is a platform dedicated to shorting meme coins, enabling users to profit from market corrections. The platform is geared towards addressing the instability in the meme coin market, with Save emphasizing that “what goes up must come down.”
Currently, Save’s platform at save.finance shows $395 million in deposited assets and $92.9 million in borrowed assets. Main pools offer up to 18.35% APR in Blaze (BLZE) for deposits, balancing attractive yields with secure asset parameters.
This rebranding follows the successful launch of Suilend on the Sui blockchain in March, where Save praised Sui’s advanced developer tools for enhancing development efficiency.