Demex Daily #204: Solend Rebrands as Save and Introduces Stablecoin and Memecoin Shorting Tools

What’s Interesting Today:

Solana-based lending and borrowing platform Solend has rebranded to Save and announced the launch of several new financial products. These include a native stablecoin named sUSD, a liquid staking token called saveSOL, and a platform for shorting memecoins, Dumpy.Fun. Following the announcement, the value of Solend's token, SLND, and SOL both saw increases. Save aims to regain market share lost to competitors like Kamino Finance and MarginFi, particularly after significant losses due to liquidations during the FTX collapse. Additionally, Dumpy.Fun allows users to short memecoins with leverage, offering incentives for liquidity provision with high annual percentage rates.

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Lisk, an Ethereum Layer-2 solution, has partnered with Backed Finance to promote the adoption of real-world assets (RWAs) in emerging markets. This strategic collaboration will combine Lisk’s blockchain technology with Backed Finance's expertise in RWA tokenization, focusing on regions with significant potential for economic growth and financial inclusion. The partnership plans to integrate Backed’s RWA solutions with the Optimism Superchain to enhance accessibility and scalability. Additionally, Backed ecosystem partners will gain access to Lisk's incubation hub to foster innovation, with new projects potentially receiving grants up to $100,000 in LSK tokens. This initiative aims to democratize access to financial services in these growing markets and reduce entry barriers with low transaction fees.

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