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Suilend (SEND) is the native governance token of the Suilend lending protocol, a core component of the rapidly growing Sui blockchain's DeFi ecosystem.

Key takeaways

• Suilend is the leading native lending protocol on the high-performance Sui blockchain, offering decentralized borrowing and lending services.
• The SEND token is used for community governance, allowing holders to vote on key protocol parameters and upgrades.
• The protocol is designed for capital efficiency, supporting isolated markets to manage risk and a unique interest rate model.
• Suilend benefits from the technical advantages of the Sui blockchain, including high throughput and low transaction costs.
• You can trade SEND tokens via spot and futures contracts on major exchanges like BTCC.

What is Suilend? Key Specifications & Tokenomics

Suilend is a decentralized, non-custodial liquidity protocol built on the Sui blockchain, enabling users to supply assets to earn yield or borrow assets against collateral.

Who created Suilend (SEND)?

Suilend was developed by a team of experienced engineers and DeFi specialists. The protocol's initial development and launch were led by individuals with strong backgrounds in blockchain technology and traditional finance. While specific founder names are often less emphasized in decentralized projects, Suilend's development is closely associated with the broader growth initiatives within the Sui ecosystem. The project operates under a decentralized autonomous organization (DAO) model, where SEND token holders ultimately govern its future direction and development priorities.

How does Suilend (SEND) work?

Suilend operates as an algorithmic money market protocol. Users can deposit supported cryptocurrencies into liquidity pools to earn interest. These supplied assets then become available for other users to borrow. Borrowers must deposit collateral, always worth more than the loan amount, to secure their loans. The protocol uses a peer-to-pool model, meaning lenders provide liquidity to a shared pool rather than to individual borrowers.

• Isolated Markets: To manage risk, Suilend can deploy assets in isolated markets. This limits contagion risk if one asset experiences issues.
• Interest Rate Model: It employs a dynamic, utilization-based interest rate model. Rates adjust automatically based on the supply and demand for each asset.
• Liquidations: If a borrower's collateral value falls below a required threshold (the liquidation threshold), their position can be liquidated by keepers to repay the debt and keep the protocol solvent.

What makes Suilend (SEND) unique and valuable

Suilend's primary value proposition stems from its position as the flagship lending protocol on the Sui blockchain. Sui's architecture offers high transaction speed and low gas fees, which are critical for a seamless DeFi lending experience. The protocol is built using Sui's Move programming language, which is designed for security and preventing common smart contract vulnerabilities.

Furthermore, Suilend's integration within the Sui ecosystem provides unique composability. It can seamlessly interact with other DeFi applications on Sui, such as decentralized exchanges (DEXs) and liquid staking protocols, enabling complex financial strategies. The SEND token grants holders direct influence over the protocol's evolution, including fee structures, supported assets, and risk parameters, aligning the community's incentives with the protocol's long-term health and growth.

What is Suilend (SEND) used for?

The SEND token is central to the Suilend ecosystem, with its primary utility focused on governance and ecosystem participation.

• Protocol Governance: SEND holders can create and vote on proposals that dictate the protocol's future. This includes decisions on:

  • Adding new collateral assets or markets.
  • Adjusting risk parameters like collateral factors and liquidation thresholds.
  • Managing the protocol's treasury and directing development resources.

• Fee Discounts & Incentives: The protocol may implement mechanisms where SEND token staking provides users with reduced borrowing fees or enhanced rewards for supplying liquidity.

• Ecosystem Incentives: SEND tokens are often distributed as rewards to users who supply or borrow assets on the platform, encouraging participation and liquidity provision.

How to buy SEND Coin?

SEND is a popular cryptocurrency available on several exchanges. For a secure and liquid trading experience, we recommend using a major platform like BTCC.

1. Register a BTCC Account: Sign up using your email or phone number. Complete the KYC verification process to unlock all platform features and benefits.
2. Deposit Funds: Deposit fiat currency (via bank transfer, card, or third-party payment) or transfer USDT from an external wallet into your BTCC account. (How to buy USDT on BTCC)
3. Start Trading: Navigate to the trading section. Search for the spot trading pair SEND/USDT or the futures contract SENDUSDT.
4. Place an Order: Enter the amount of SEND you wish to purchase and submit your order. For futures trading, you can also choose to go short (sell) and adjust leverage according to your strategy.
5. Confirm Your Purchase: For spot purchases, check your asset wallet to confirm the SEND tokens have arrived. For futures, check your open positions on the trading page.