Solend Launches Phase 1 of V2: What are the New Features?

04/09/2023 06:44 • Daily Digest • 63 views

On April 9th, it was announced that Solana Loan Agreement Solend will launch the first phase of V2 next week. On April 10, Solend smart contract will update three new functions: loan weight, TWAP oracle machine and outflow rate limit.

Solana Loan Agreement Solend will launch the first phase of V2 next week

Introduction

On April 9th, Solana Loan Agreement Solend announced the launch of the first phase of its V2 platform, set to go live the following week. As of April 10, Solend has updated its smart contract to include three new functions: loan weight, TWAP oracle machine, and outflow rate limit. In this article, we’ll explore these new features in more detail, discussing what they mean for Solend and its users.

The Three New Functions

Loan Weight

The first new function, loan weight, is aimed at providing better scaling and more precise capital cost allocation for solend’s loans. This feature will enable Solend to adjust the size of loans based on the lender’s available capital, ensuring they can lend as much or as little as they want. This ensures that both borrowers and lenders get the best possible experience, with more efficient capital utilization and lower slippage due to less capital fragmentation.

TWAP Oracle Machine

The second new function, TWAP oracle machine, will be crucial in helping Solend more accurately track price movements in real-time. This function will allow Solend to monitor the average price of an asset over a given period, ensuring that price changes are reflected accurately and in real-time. This means lenders can adjust their lending according to true market value, leading to a more efficient use of capital.

Outflow Rate Limit

The third new function, outflow rate limit, is designed to help reduce systemic risk in Solend’s lending and borrowing process. This feature will limit the amount of money that can be withdrawn from Solend at a given time, reducing the risk of sudden and uncontrolled cash outflows. This feature will also ensure borrowers can quickly liquidate their assets, reducing the risk of being left out of the market in times of high liquidity.

Conclusion

Solend’s new features are designed to improve the overall experience for both borrowers and lenders, providing more efficient capital utilization, better pricing data, and lower risk. As the platform continues to evolve, we can expect even more innovations that will help Solend to maintain its leading position in the world of decentralized lending and borrowing.

FAQs

#1. Why is Solend launching phase 1 of V2?

Solend is constantly looking for new ways to improve its platform and provide a better experience for its users. The new features in V2 will help to achieve that goal.

#2. How will the new features benefit lenders and borrowers?

The new features will provide more efficient capital utilization, better pricing data, and lower risk for lenders and borrowers alike.

#3. Can we expect more improvements from Solend?

Yes, Solend is committed to constant innovation and improvement, and we can expect even more new features in the near future.

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