Suilend (SEND)

Lending on Sui

Basics

• Based in:
• Started in / Announced on:
• Testnet release:
• Mainnet release: 12-3-2024

History

Built by the team of Solend, which is notorious for its founder trying to take over a whale account to 'soften' a liquidation.

Audits & Exploits

• Bug bounty program can be found [insert here].
• Has had two audits, one from Zellic (5-3-2024), and one from OtterSec (20-3-2024).

Token

Launch

Will launch December 2024.

Token Allocation

• From their docs (released 1 day before the airdrop, 10-12-2024):

"$SEND has a total supply of 100M. Here's the breakdown:

1. Community: 65%
2. Investors: 20%
3. Team: 15%

Mdrops are a new token distribution model for SEND. Here’s how it works:

1. When you redeem your SEND allocation, you’ll receive mSEND, which you’ll use to claim SEND.
2. Claiming SEND early comes with a penalty fee, which is paid in SUI. This reduces volatility and increases demand for SUI.
3. The mSEND penalty decreases linearly over time: • 3 months for Points & Ecosystem allocations. • 6 months for Team & Investor allocations. • 12 months for SAVE allocations.
4. On the maturity date (e.g., after 3 months for Points & Ecosystem allocations) you can claim the full SEND tokens without any penalty.

Unlocks are as follows:

1. Mdrops are unlocked on day 1
2. Investors unlock over 2 years
3. Team unlocks over 4 years"

Technology

• Whitepaper or docs can be found [insert here].
• Code can be viewed [insert here].
• Built on Sui

Liquidity Mining

Is having a point system before launching SEND.

Their Other Projects

SpringSui

SpringSui is their LST for Sui.

Steamm

• From the whitepaper (11-2024):

"Steamm is an Automated Market Maker with an embedded money market integration, designed to maximize capital efficiency. It features a composable architecture that allows for the integration of various quotation system, such as a Constant-Product quoter, quoters specialized in stablecoin trading, as well as dynamic fee quoters based on market volatility and trading volume. Steamm’s liquidity re-utilization model deposits idle liquidity into Suilend’s lending markets, improving capital efficiency and generating additional yield for liquidity providers."

Roadmap

• Can be found [Insert link here].

Competition

Scallop and other lending protocols.

Team, Funding and Partners

Team

• Full team can be found [here].

(:

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