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Save
Save (formerly Solend) is a Solana decentralized platform for lending and borrowing crypto assets.
Save
What is Save?
Save (formerly Solend) is a decentralized lending and borrowing platform built on the Solana blockchain. It allows users to earn interest on their idle assets and borrow other assets by using their crypto as collateral.
Key features
- ✅ Borrow assets
- ✅ Leverage long
- ✅ Short assets
- ✅ Decentralized governance
What does Save do?
Save enables users to deposit their crypto assets, such as SOL, into a liquidity pool to earn interest. These deposits can also be used as collateral to borrow other cryptocurrencies like USDC. Save operates autonomously without a central authority, allowing permissionless access to its services, ensuring greater control and transparency.
Why is Save unique?
Save is unique due to its integration with the Solana blockchain, making it significantly faster and cheaper than many other DeFi platforms. It offers a highly secure and user-friendly experience, optimized for both beginners and experienced traders. Save's decentralized nature ensures greater transparency and resistance to censorship, while its advanced interest rate models and liquidation mechanisms provide robust financial management tools.
Pricing
Using Save involves transaction fees in SOL, which are generally low due to Solana's efficiency. Additionally, there are one-time fees for creating state accounts, required for the first interaction with the platform.
Frequently Asked Questions
Save is a decentralized lending and borrowing protocol built on the Solana blockchain. It allows users to earn interest by supplying assets to lending pools and to borrow assets using supplied assets as collateral.
Save provides features such as isolated lending pools, a risk management framework, and algorithmic interest rates. These features offer flexibility and customization for users.
Users can supply assets to Save's lending pools to earn interest. Interest rates are variable and determined by the supply and demand for each asset. Lenders start earning interest immediately and can withdraw their assets at any time.
Save supports a variety of assets across multiple pools. The specific assets available for lending and borrowing are not detailed in the provided sources. Users should refer to the platform's interface for the most up-to-date list of supported assets.
Interest rates on Save are algorithmically determined based on the supply and demand dynamics of each asset within the lending pools.
