Solend Rebrands to Save, Announcing Diversified New Product Suite
Solend, one of Solana’s longest-standing DeFi applications, rebrands to Save and unveils a new range of products and services.
Following the distribution of over $460k worth of SLND tokens through its Season 2 rewards program, one of Solana’s oldest DeFi apps has announced a full rebrand.
Transitioning from Solend to Save, the trusted lending protocol is using the rebrand to launch additional DeFi products, namely an LST (Liquid Staking Token), a stablecoin, and a meme coin shorting platform.
Solend Becomes Save
After three years of operation as Solend, the popular lending application re-emerges as Save, a more diversified DeFi protocol boasting a range of new functionalities.
The change represents a culmination of everything the Solend team has learned over the past three years. Relaunching on save.finance, the rebrand better reflects the protocol’s position in Solana’s flourishing DeFi landscape and enables Save to evolve and establish itself as a multi-purpose protocol.
The relaunch promises a significantly improved user experience. Featuring a fully redesigned and optimized interface, Save aims to streamline onboarding and simplify navigation of the platform, making the new application more attractive to Solana’s large inflows of new users.
Beyond an improved user experience and interface, the rebrand coincides with the introduction of three highly demanded products within Solana’s DeFi ecosystem.
Save Launches LST, Stablecoin, and Meme Coin Shorting Tool
To complement the rebrand and spearhead Save’s diversified DeFi offering, the protocol introduces several new features that are expected to greatly expand Save’s functionality. These new products aim to showcase Save’s versatility and provide essential services to a new wave of Solana users.
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SUSD - Save USD is the protocol’s native decentralized stablecoin. Users can instantly borrow SUSD against collateralized SOL at 0% interest, promoting greater flexibility and liquidity within the Solana ecosystem.
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saveSOL - A liquid staking token, saveSOL enables users to earn staking rewards while retaining liquid assets. Additionally, saveSOL will be incorporated into Save’s leveraged staking strategies, unlocking a host of unique yield opportunities and boosted APY rates.
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dumpy.fun - Aptly named, dumpy.fun is a meme coin shorting tool. The platform provides a novel method of generating profit in Solana’s typically volatile meme coin market. dumpy.fun allows users to open short positions on meme coins, a strategy previously only available on established meme coins with higher marker capitalizations.
Save Season 3
While nothing has been confirmed, the Save team has teased the launch of their upcoming incentives campaign. With a new range of tools to explore, it is likely that usage of SUSD, saveSOL, and dumpy.fun will generate points for users of the protocol.
In a previous exclusive statement to SolanaFloor, the Save team remarked that Save is “built around decentralization and permissionlessness.” Save has hinted that they “highly value partnerships with other projects and… intend to collaborate closely with other projects for Season 3.”
Details are yet to be revealed regarding the potential rebrand of Save’s native token SLND. However, the Save team has hinted at future developments for SLND that they're "very excited about."
With Solana’s DeFi ecosystem rapidly expanding, Save’s rebrand highlights the team’s commitment to growing and developing within a thriving ecosystem.
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