Solana Solend’s Loan Agreement Launched in First Phase of Solend V2

04/11/2023 07:08 • NFT Newsflash • 125 views

On April 11, it was reported that the loan agreement on Solana Solend had been launched in the first phase of SolendV2, and three new functions had been updated: loan weight, TWAP oracle machine and capital outflow rate limit. Among them, the new parameters of LTV and loan weight would take effect on April 17, and users need to update their open positions.

The loan agreement Solend has been launched in the first phase of the V2 version, with functions such as updating loan weights

On April 11, 2021, it was reported that Solana Solend’s loan agreement had been launched in the first phase of Solend V2, highlighting three new functions that had been updated. The new functions are loan weight, TWAP oracle machine, and capital outflow rate limit. In this article, we will delve deeper into what Solana Solend is, the new functions included in Solend V2, and how users can update their open positions before the new parameters on LTV and loan weight take effect on April 17.

Introduction to Solana Solend

Solana Solend is a decentralized finance (DeFi) project built on top of Solana’s scalable layer-1 blockchain infrastructure. Solend aims to provide a decentralized lending and borrowing marketplace where users can access low-cost capital without the need for intermediaries such as banks. The platform is non-custodial, meaning users remain in control of their funds throughout the lending and borrowing process.

Solend V2: Three New Functions

The first new function, loan weight, is designed to increase the efficiency of the lending and borrowing process on Solend. It allows lenders to adjust the weight of their loans to improve their chances of being selected by borrowers. The loan weight function is said to increase the speed of loan matching by up to 85%, making the entire borrowing process faster and more efficient.
The second new function, TWAP oracle machine, is a time-weighted average price (TWAP) oracle that helps ensure the accuracy of Solend’s pricing data. The oracle tracks the prices of various assets and calculates their TWAP over a specified time, minimizing the chance of price manipulation and providing borrowers with accurate pricing data.
The third new function, capital outflow rate limit, is designed to prevent large capital outflows from negatively affecting Solend’s liquidity pools. It limits the amount of capital that can be withdrawn from the pools at any given time, thus minimizing the chance of a liquidity crunch.

Updating Open Positions

The new parameters on LTV and loan weight will take effect on April 17, 2021. Users need to update their open positions before this date to ensure their loans continue to function as intended. To update an open position, users need to navigate to the Solend V2 platform and adjust the loan collateral ratio and loan weight accordingly.

Conclusion

Solana Solend’s launch of its loan agreement in the first phase of Solend V2 and the introduction of its three new functions provides significant upgrades to its DeFi platform. The loan weight function offers a faster and more efficient lending and borrowing process while the TWAP oracle machine minimizes the chance of price manipulations. The capital outflow rate limit provides a buffer against potential liquidity crunches. Users should update their open positions before the new LTV and loan weight parameters take effect.

FAQs

1. What is Solana Solend?
Solana Solend is a decentralized finance (DeFi) project built on top of Solana’s scalable layer-1 blockchain infrastructure.
2. What are the new functions introduced in Solend V2?
The new functions introduced in Solend V2 are loan weight, TWAP oracle machine, and capital outflow rate limit.
3. When do the new LTV and loan weight parameters take effect?
The new LTV and loan weight parameters take effect on April 17, 2021.

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