Save (Formerly Solend)

Introduction

Save, previously known as Solend, is a leading decentralized lending and borrowing protocol built on the Solana blockchain. It allows users to earn interest on their digital assets or take out overcollateralized loans quickly, efficiently, and with minimal fees, leveraging Solana’s high speed and low-cost infrastructure.

Originally launched as Solend in 2021, the protocol rapidly grew to become one of the top DeFi projects on Solana. In 2024, Solend rebranded to Save to reflect a broader mission beyond lending, focusing on helping users grow and manage their on-chain wealth in a safe, transparent, and user-first way.

Save supports a wide range of assets and includes advanced features like isolated pools, risk-adjusted interest rates, real-time on-chain risk management, and seamless integrations with other Solana-based platforms.

With a refreshed brand and an expanded roadmap, Save aims to redefine decentralized finance by making saving and borrowing as easy and accessible as possible for everyone, from DeFi newcomers to seasoned users.

Key Features of Save

1. Lending and Borrowing Made Easy

• Users can supply assets to earn interest or borrow assets by posting collateral.
• All transactions are executed on-chain with no intermediaries, ensuring transparency and trustlessness.

2. High-Speed, Low-Cost Transaction

• Built on Solana, Save benefits from ultra-fast transaction speeds and near-zero gas fees, making Defi more efficient and affordable.

3. Isolated Pools

• Supports isolated lending pools that allow high-risk assets to be listed without affecting the overall protocol.
• Each pool has its own parameters and risks, offering more flexibility and safety.

4. Dynamic Interest Rates

• Utilizes an algorithmic interest rate model that adjusts based on supply and demand, ensuring fair and responsive returns for lenders and borrowers.

5. Advanced Risk Management

• Real-time risk engine to monitor collateral, prevent bad debt, and auto-liquidate undercollateralized positions when necessary.
• Transparent on-chain risk data is available to all users.

6. Wide Asset Support

• Users can interact with a growing list of supported tokens, including SOL, USDC, ETH, BTC, and various Solana-native assets.

7. Permissionless Pool Creation

• Anyone can create and manage their own lending/borrowing pools through the permissionless Turbo Pools features, empowering community-led innovation.

8. User-Friendly Interface

• Designed with simplicity in mind, Save offers an intuitive dashboard with real-time stats, health factors, and asset performance metrics.

9. Deep Integrations

• Integrates with Solana Defi tools and wallets like Phantom, Jupiter, Marginfi, and more for a seamless user experience.

10. Security First

• Save undergoes regular audits and implements strong security measures to protect user funds and smart contracts.

How It Works

Using Save is simple and beginner-friendly. To get started, users connect their Solana wallet (like Phantom) to the Save platform. They can then deposit supported assets, such as USDC, SOL, or ETH into the protocol to earn passive interest.

These deposits serve as collateral, allowing users to borrow other assets instantly without needing approval from a third party.

The amount they can borrow depends on the value of their collateral and the current risk parameters. Interest rates are automatically calculated based on supply and demand.

If a user's loan becomes undercollateralized, part of their collateral may be liquidated to protect the system. Everything happens quickly and transparently on-chain, powered by Solana's fast and low-cost infrastructure, making Save a secure and efficient way to grow or leverage your crypto holdings.

Why It Matters (for Solana Users)

Save plays a vital role in the Solana ecosystem by providing a powerful, decentralized way to put idle assets to work.

For traders, it offers a way to access instant liquidity without selling their holdings, allowing them to hedge, leverage, or pursue new opportunities while keeping long positions intact.

Stakers and holders can earn passive income by lending assets, effectively turning static portfolios into yield-generating tools. Meanwhile, DeFi explorers benefit from Save’s isolated pools and permissionless design, which encourage innovation and experimentation without jeopardizing the broader protocol.

Thanks to Solana’s lightning-fast, low-cost blockchain, Save delivers this utility in real time, making it a cornerstone of the chain’s growing DeFi infrastructure and a practical tool for anyone looking to build, trade, or grow wealth on Solana.

How to Use It

Step 1. Get a Solana Wallet

Download and set up a wallet like Phantom, Backpack, or Solflare. Make sure to store your recovery phrase securely.

Step 2. Fund Your Wallet

Buy or transfer SOL (for gas fees) and other supported tokens like USDC, ETH, or BTC into your wallet.

Step 3. Visit Save’s Website

Go to the official Save platform (https://save.finance) and click “Connect Wallet.”

Step 4. Deposit Assets

Choose an asset, enter the value you want to deposit, and confirm your deposit into Save to start earning interest. Your deposited tokens will act as collateral if you want to borrow.

Step 5. Borrow Assets (Optional)

Click the “Borrow” tab and choose the asset you want. The platform will show your borrowing limit and interest rate before confirming.

Step 6. Track & Manage Your Position

Use the dashboard to monitor your deposits, borrowings, and health factor in real time. You can repay, withdraw, or top up collateral anytime.

Step 7. Stay Safe

Always keep an eye on your health factor to avoid liquidation. Start small, especially if you're new to DeFi.

Milestones