CandleFocus Suilend Plots New Crypto-Finance Services on Sui After $6 Million Raise
2024-12-05
Author: Content Editor
The Suilend protocol, which facilitates crypto borrowing and lending on the Sui blockchain, has raised $4 million in funding. This comes after the company previously raised $2 million in February. The funding will allow Suilend to weather potential market shifts and secure its capital for the next four years. Suilend is currently the second-largest DeFi protocol on the Sui blockchain and the biggest lending protocol, with nearly $470 million of total value locked. While its numbers are smaller compared to other ecosystems like Solana, Suilend's founder is optimistic about the platform's potential. He believes that software developments can proceed faster on Sui and that the protocol's design addresses issues faced by other lending protocols. Overall, Suilend aims to capitalize on the growing DeFi trend on the Sui blockchain.
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