Suilend completes $4 million financing, led by Robot Ventures

ChainCatcher news, according to CoinDesk, the decentralized lending protocol Suilend announced the completion of a $4 million financing round, led by Robot Ventures, with participation from several venture capital firms and angel investors. Previously, the project raised $2 million in February of this year. Suilend founder Rooter stated that this financing will help the team maintain operations during a potential long-term bear market and ensure ample funding for the next four years.

Suilend is the second largest DeFi protocol on the Sui chain, with a total value locked (TVL) of nearly $470 million, and it is also the largest lending protocol on the chain. In the past 30 days, its revenue has approached $820,000. Additionally, Suilend plans to launch its new token SAVE in the coming days, while continuing to expand its core product suite, including the recently launched liquid staking token project and the upcoming automated market maker (AMM).