Try Quests to earn SOLSolend Demographics
Q101.Solend is the leading lending protocol on Solana. What are the demographics of the Solend userbase? What is the user distribution by size of account? (How many have between $1-1,000, 1,000 - 100k, etc). Is the protocol largely influenced by whales, or by average Solana users?
What is Solend?
Solend is an algorithmic, decentralized protocol for lending and borrowing on Solana.
Lending and borrowing has proven itself as key in a DeFi ecosystem. However, current products are slow and expensive. On Solana, Solend can scale to being 100x faster and 100x cheaper. Solend aims to be the easiest to use and most secure solution on Solana.
With Solend, you can do the following:
- Earn interest
- Borrow
- Leverage long
- Short
Borrow APY
When you are borrowing, you are paying a Borrow APY to the pool (for the users who supplied). This borrow APY is calculated based on the Parameters & The Math, and are displayed on our UI when you borrow. Borrow APY is added to your loan on a per-slot basis, so the amount of money you have to repay goes up over time.
On most of the tokens, such as USDC and SOL, borrowers also receive SLND rewards for borrowing. These are claimable on the 3rd of every month at UTC Midnight, same as Liquidity Mining. For these, you can even get paid to borrow, as SLND Rewards > Borrow APY. These are displayed on our UI as a negative APY.
There is no "Deadline" for you to repay your loans. They will just tick up over time, but you can repay them any time!
The above number shows the users that recently joined Solend Since last month.
In above pie chart, we have grouped the wallets who have Borrowed in Solend based on the amount of SOL they have Borrowed.
In above pie chart, we have grouped the wallets who have Borrowed in Solend based on the amount of USDC they have Borrowed.
As we see in the charts above for Solana and USDC the high-balance wallets arent influencing the protocol that much and it is influencing by the average solana users.