Save (formerly Solend)

Key Features

1. Speed and Cost Efficiency: Save leverages Solana’s capabilities to offer transactions that are 100x faster and cheaper compared to traditional DeFi solutions.
2. Permissionless Pools: These allow any user to create isolated pools, facilitating the listing of any SPL token as collateral, which democratizes access to financial services.
3. DAO Governance: Save is governed by the Save DAO, where SLND token holders have voting rights on key protocol decisions and treasury management.

Tokenomics

The SLND token is integral to Save’s ecosystem, used for governance and as an incentive mechanism. Key aspects include:

• Community Allocation: 60% of SLND tokens are allocated to the community through liquidity mining programs and the DAO treasury.
• Governance: SLND holders govern the protocol through voting on proposals and managing the DAO’s assets.

Security and Risk Management

• Oracles: Save relies on oracles like Pyth and Switchboard for accurate price feeds, crucial for liquidation and health calculations.
• Liquidations: To maintain pool health, liquidations are performed when borrowers’ collateral value falls below a specified threshold.

User Experience

• Wallet Integration: Users need a Solana-compatible wallet, such as Phantom, to interact with Save.
• Deposits and Borrowing: The interface allows easy deposits, borrowing, and management of assets, with real-time account health indicators to prevent liquidations.

DAO and Governance

Save’s governance is managed by the DAO, with multiple wallets overseeing different aspects such as treasury operations and liquidity mining. This decentralized governance ensures that protocol changes and treasury management reflect the community’s interests.