Solend Health Project

As part of this article, we will examine “How healthy is the Solend project?”, based on the Total Value Locked In Solend, Daily Transactions, and Transactions by Type of the Pool.

In Solana, Solend is the leading algorithmic protocol for lending and borrowing, powered by a decentralized algorithm. By leveraging their assets, anyone with an internet connection is able to earn interest, and by borrowing from their deposits, they can earn interest on their loan.In the same way that the purpose of getting DeFi out is for it to be accessible to everyone, Solend is 100 times faster and cheaper than Aave or Compound is.It is possible to think of Solend as the bank of the future, for everyone.Solend allows you to: Earn interest, Borrow, Leverage long-term and short-term contracts.

Using the dashboard, you can see the total TVL and the total transactions of Solend, as well as how Solend transactions fared on each pool. In all Pools we cans ee there is a

Below is a graph showing the total value locked in Solend between January 12, 2021 and March 4, 2022. On February 5, 2022, there was a maximum TVL of $743.58M, and on December 14, 2021, there was a minimum TVL of $456.85M. Total TVL dropped more than 10% between January 12 and March 4, 2022 (from $703.48M to $615.81M). A lower than normal TVL was recorded on July 12, 2021 and a higher than normal TVL was recorded on February 5, 2022 .

In Generally , the TVL does not only change when users deposit or withdraw assets from a project.As the token’s value rises, TVL, the protocol’s token valuation index, rises as well. In Solend’s case, the TVL is increasing, which means the value of the Solana token is also rising steadily. Based on these results, Solend on Solana believes it is a healthy and productive way of growing.

During January 22nd, 2022, the maximum number of transactions was recorded at 1,35 million and the minimum number of transactions recorded on March 4th, 2022 was 1.78 thousand.There were 1.78K Transactions in March 4, 2022, which decreased by 66% from 5.21K transactions in December 8, 2021.

A majority of the TVL in this Solend is located in a Main pool, and there are also a number of smaller pools spread throughout the Solend and called them Isolated Pools . As you can see from the below graph, we can get the Solend transactions based on the Pool type.

Main Pool: It is possible for tokens to be listed in a main pool as long as they do not represent an increase in risk, mainly if they contain reliable oracles or thick liquidity. A total of 9.37M transactions can be seen in the Main Pool.

Isolated Pools : In Isolated pools, individual tokens are listed in smaller pools such as Locked Staked IN (lsIN), or future tokens like xSTEP and SAMO.

Here we can consider the InvicTus Pool from isolated pools, During January 4, 2022 through March 5, 2022, there were 7.63K InvicTus Pool Transactions. The maximum InvicTus Pool transactions of 1.15K was recorded on February 8, 2022 and the minimum InvicTus Pool transactions of 0 was recorded on January 4, 2022. InvicTus Pool is trending upward.

Next, consider TurboSOL Pool, In the period from January 4, 2022 to March 5, 2022, there were 233.41K transactions on TurboSOL pool. Maximum TurboSOL of 67.8K was observed on February 13, 2022, and minimum TurboSOL of 0 on January 4, 2022. TurboSOL is on an upward trend.

If we consider the StepPool ,the total StepPool transactions between January 4, 2022 and March 5, 2022 was 3.8K. The maximum StepPool transactions was 363 on February 26, 2022 and the minimum transactions was 0. The StepPool shows an increasing trend since January 4, 2022.

A majority of TVL on this Solend is located in the main pool, even though there are a number of isolated pools. Consequently, it is possible for tokens to be listed in a main pool as long as they do not represent a risk increase, especially if they contain reliable oracles. Solend on Solana believes that this approach to growing is healthy and productive

Reference

  1. Defilama
  2. Flipsidecrypto
  3. Dune
  4. https://docs.solend.fi/protocol/main-isolated-pools

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