PANews reported on December 6 that according to CoinDesk, the decentralized lending protocol Suilend announced the completion of $4 million in financing. Previously, the project had raised $2 million in February this year. This round of financing was led by Robot Ventures, and several venture capital institutions and angel investors participated. Suilend founder Rooter said that this financing will help the team maintain operations in a possible long-term bear market and ensure sufficient funds in the next four years.
Suilend is the second largest DeFi protocol on the Sui chain, with a total locked value (TVL) of nearly $470 million, and is also the largest lending protocol on the chain. In the past 30 days, its revenue was close to $820,000. In addition, Suilend plans to launch its new token SAVE in the next few days, while continuing to expand its core product suite, including the recently launched liquidity staking token project and the upcoming automated market maker (AMM).
Rooter said that compared to Solana, Sui Chain has a higher development efficiency and can significantly speed up product iteration. This enables the team to build three protocols within a year, while a similar development speed is almost impossible to achieve on Solana.
