Since its launch on March 11, Suilend has quickly attracted a substantial user base and financial involvement.
The platform now boasts over $45 million in Total Value Locked (TVL) from more than 5000 users. Let’s explore more about Suilend.
Suilend Points: Revolutionizing Rewards on Sui
Suilend Points directly reward user participation, enhancing engagement and financial benefits on the platform. Unlike traditional loyalty programs that store points in a database, Suilend Points are non-transferable, non-claimable tokens that exist on the blockchain.
This makes them the first of their kind on Sui. This on-chain approach ensures transparency and security, aligning perfectly with the principles of decentralized finance.
Introducing Suilend Points!
Suilend is currently the fastest-growing lending platform on Sui.
Since launching on March 11, we've attracted over $45 million in TVL from over 5000 users.
Now we're moving onto the next stage – Suilend Points! pic.twitter.com/yDh3upvxu4
— Suilend (@suilendprotocol) May 7, 2024
How Suilend Point Works?
Suilend will distribute a whopping 10 million points daily among its users. The allocation is carefully planned to incentivize various forms of participation: 2 million points are reserved for SUI transactions, with 4 million each for USDC and USDT transactions.
Users earn points automatically as they engage in lending and borrowing activities, watching their points balance increase in real-time directly within their blockchain wallets.
Rather than having points stored in a database, these points will be onchain: non-transferable, non-claimable tokens. The first of its kind on Sui.
As you engage in lending and borrowing activities on Suilend, your points balance will increase accordingly.
— Suilend (@suilendprotocol) May 7, 2024
Moreover, Suilend is committed to fostering a community-driven ecosystem. To this end, additional points and bounties are reserved for users who contribute to the platform’s growth and visibility.
These contributions can range from writing informative threads and creating engaging memes to promoting Suilend through other community-beneficial activities.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
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