Save Finance Protocol, formerly known as Solend, has rebranded itself as Save Finance to provide Solana users with enriched financial avenues. This strategic rebranding introduces groundbreaking products aimed at expanding financial horizons within the Solana ecosystem.

The evolution from Solend to Save Finance heralds the introduction of pioneering financial solutions curated to meet the unique needs of Solana users. Save Finance endeavors to revolutionize user interaction through a redesigned interface, facilitating seamless access to a spectrum of financial services encompassing lending and trading.

Unveiling New Products

Save Finance is all set to launch three disruptive products:

• $SUSD Stablecoin: This decentralized stablecoin offers interest-free loans collateralized by the $SOL token, fostering the integration of $SUSD across the Save Finance ecosystem.

• $saveSOL Liquid Staking Token: Empowering asset holders to earn yields while maintaining $SOL exposure, the Liquid Staking Token leverages advanced staking mechanisms to provide enhanced annual percentage yields (APYs) and unlock staking opportunities for users.

• Dumpy[dot]fun: A novel app designed for shorting memecoins on the Solana blockchain, offering a user-friendly platform for traders to capitalize on memecoin volatility.

By leveraging Solend and Jupiter for borrowing and swapping services, Save Finance enables users to profit from market dynamics. The introduction of Dumpy[dot]fun adds an entertaining dimension to memecoin trading, offering potential financial advantages to users.

Funding and Transformation

Established in 2021, Save Finance secured $6.5 million in funding from leading investors including Dragonfly Ventures, Polychain Capital, Race, Coinbase Ventures, and Solana Ventures. Despite facing setbacks following the collapse of FTX, the platform has emerged as the 13th largest lending platform. Save Finance continues its journey of innovation to cater to the evolving financial needs of Solana users.