Save (Solend)

8.4/10

Verdict: Solid OG Solana lending protocol. Good for USDC supply yield and isolated pool exposure.

Best for
Stablecoin lending and isolated pools
TVL
$81M TVL
APY
3-7% on USDC
Founded
2021
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Overview

Save (formerly Solend) is one of Solana's original lending protocols, live since 2021. It operates a main lending pool for major assets (SOL, USDC, USDT) and isolated pools for riskier tokens. Depositors receive cTokens representing their position plus accrued interest. Save rebranded from Solend in 2024 after a controversial governance incident in 2022, but the underlying contracts and functionality remain identical. With $124M TVL, Save is smaller than Kamino or Jupiter Lend but offers the longest track record of any Solana lending protocol.

Save (Solend) Key Features

Main pool lending

Primary lending pool for SOL, USDC, USDT with deep liquidity and competitive rates.

Isolated pools

Separate lending pools for riskier assets that don't affect main pool health.

cToken receipt

Receive cTokens (e.g., cUSDC) when you supply, representing your deposit plus accrued interest.

Permissionless pool creation

Anyone can create an isolated lending pool for new assets.

Save (Solend) Fees & Pricing

FeeValueNotes
Lending spread~0.5-1%Spread between supply and borrow rates is protocol revenue.
No deposit/withdrawal fee0%Free to supply and withdraw assets.
Liquidation penalty5%Applied to liquidated positions.

Ready to try Save (Solend)?

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How to Get Started with Save (Solend)

  1. 1

    Connect wallet

    Visit save.finance and connect your Solana wallet.
  2. 2

    Supply assets

    Select Main Pool or an Isolated Pool. Choose your asset (USDC, SOL) and deposit.
  3. 3

    Receive cTokens

    cTokens appear in your wallet representing your deposit plus accrued interest.
  4. 4

    Borrow (optional)

    After supplying collateral, select an asset to borrow and enter the amount.

Save (Solend) Risk Assessment

  • Governance history

    medium

    Formerly Solend. In 2022, a governance proposal to take over a whale account to prevent cascading liquidations raised concerns about governance centralization. Issue was resolved but raised trust questions.

  • Smart contract

    low

    Live since 2021 with multiple audits. One of the longest-running Solana lending protocols.

  • Liquidation risk

    medium

    Borrowing positions face liquidation if collateral drops below the minimum threshold. Isolated pools may have less liquidity for liquidations.

  • Lower TVL

    low

    $124M TVL is significantly less than Kamino ($2.19B), meaning less liquidity on some markets.

What Can You Do with Save (Solend)?

  • Stablecoin lending

    Supply USDC/USDT to the main pool for consistent 3-7% APY.

  • Isolated risk exposure

    Use isolated pools to lend riskier tokens without affecting main pool collateral.

  • OG protocol trust

    Users who prefer battle-tested protocols running since 2021.

Save (Solend): Pros & Cons

Pros

  • OG Solana lending — live since 2021
  • Isolated pools reduce systemic risk

Cons

  • Lower TVL than Kamino/Jupiter Lend after rebrand
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Save (Solend) Alternatives

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