Introduction

Solend

Solana's central DeFi primitive, Solend, enables in-chain lending and borrowing. Earning interest on unused capital with Solend integration is one way to increase the effectiveness of capital allocation, and it also makes possible a wide variety of alternative DeFi yield options. Solend provides a rebate for integrations by means of borrow fees, increased returns, and enhanced capital efficiency for your end customers. Link

Permissionless Pools

When using Solend's Permissionless Pools, everyone can make their own private swimming area. The originator has the last say and receives 20% of all origination fees made from that pool. As a result, if a Permissionless Pool is profitable, its creator will get payments. Link

Method

> Finding the addresses of the pools on the Solana database on flipsidecrypto was a tough way with the dashboard I was using right now, but I persisted. I utilized solend.fi/pools to locate the addresses of three different types of pools, as follows: > > I manually imported the Main Pools, Isolated Pools, and Permissionless Pools address into the flipsidecrypto database. > > Then by use of solana.core.fact_events table and programId = 'So1endDq2YkqhipRh3WViPa8hdiSpxWy6z3Z6tMCpAo' that is Solend address, tried to find supplier and borrower wallets address, and amount of supply and borrowed volume per token and type of pools.

The Permissionless Pool was announced by this twitter link on ‘2022-08-17’, so the start date of assessing prosses in this dashboard are ==current_date - 91==.

So, let’s look at what was did.

Analysis

How has this influenced user behavior on Solend so far compared to prior user activity?

Conclusion

• Roughly 90% of supplied assets to pools were deposited to isolated pools, nearly 10% to Main pools and less than 01% to permissionless pools.
• the change on new unique users and amount supplied volume doesn’t meaningful after launching permissionless pools.
• Less than 5% of suppliers and supplied volume were deposited to pools by PDAs/integrations or DAOs/Realm addresses, and more than 95% rest, deposited by regulars addresses.
• Any PDAs/integrations or DAOs/Realm addresses, doesn’t deposited to permissionless pools and all of them have had deposit to Isolated and main pools.
• USDC, Sol & SLND are three top deposited token token over the past 90 days.

About:

• Author: HaM☰d

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• Discord: 0xHaM☰d#8391

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• Twitter: @arjmandi_hamed

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• Email: h_arjmandi2012@yahoo.com

On August 17th, Solend announced their permissionless pools, where anyone can now create a pool.

What are the aims of this research?

In this dashboard I tried to looking at:

> * How has this influenced user behavior on Solend so far compared to prior user activity? > * How many users have used a permissionless pool? > * What is the % of TVL contributed from isolated and permissionless pools, against the main pool over time? > * What is the amount/% of TVL that comes from PDAs/integrations or DAOs/Realm addresses, instead of normal signers? > * Overall how healthy does Solend appear as a protocol and is it gaining traction in the Solana ecosystem?

Image

Hey there 👋!

Firstly, I appreciate you sticking with it until the conclusion.

I’m Hamed, Ph.D. In Civil Engineering and interested in data science.

I've made many similar dashboards and visualizations since I started at Flipside in January.

Please have a look at my various contact information and let me know what you think.

• At the first step to answer this question I assessed the count of unique wallets as supplier and borrower as following bar charts. as of those we can’t observe any significant change after launching permissinless pools on August 18th.

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• Number of Users interacting with various pool types doesn’t see any difference overall.

• Its seems that this type of pools doesn’t famous amongst community.

Isolated pools have had most supplying and borrowing rather than other two pools.

• Less than five percent of the suppliers and the volume supplied were deposited to pools by ==PDAs/integrations or DAOs/Realm== addresses, while the remaining more than ninety-five percent were deposited by regulars addresses.

• Any PDAs/integrations or DAOs/Realm addresses, however, do not deposit to permissionless pools, and each of these types of addresses has had deposits made to both isolated and main pools.

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• When we look at the TVL that was provided both before and after the event, we do not find any significant differences in TVL. Instead, ever since the first of the month, it has been operating according to the pattern that is typically observed.