Solend has announced the launch of Margin. The objective is to help users trade with leverage through Jupiter Exchange. Margin minimizes the efforts that users otherwise have to spend on borrowing and leveraging, long or short. It will now make it more convenient for tokens that the Solana-based protocol supports.
The development comes months after Solend pitched the idea of Margin and Points. Both were introduced to the community for different reasons. While the intention behind Margin is pretty clear, Points were introduced mainly to reward users for their participation in lending, borrowing, and trading.
Solend Points have a pool of 100,000 SLND, which is dynamic in nature since its expansion is based on how the deals with reward partners grow over time. The prize pool is for Season One; following editions may experience a higher or lower pool for the community.
Points can be earned in three ways: participating in the Main Pool via deposit and borrow, trading on Margin, and contributing to the community through memes and threads. It basically covers all the aspects of the community, whether they are platform-related or social engagement-related.
Advertisement
The launch of Margin by Solend has received mixed responses. Some of the community members are excited about the development, but some are also unhappy with the way things are being operated. A member has pointed out that the solution is horrible because it is just a 1:1 swap with a few more steps. Calling the process confusing, the member who goes by the user ID Ever Immortal on X, formerly Twitter, has said that Margin is not really the correct move.
He, however, has said that he is optimistic about SLND. The native token was last seen riding a bearish chair with a fall of 13.52%, slipping down to the value of $2.53 in the last 24 hours. SLND has gained 51.53% in the last 30 days, but bulls are not precisely supporting recent launches.
Those who are happy with the launch of Margin and other developments have called the progress astonishing, adding that launching new features and incentives is definitely the right way to move forward.
Margin by Soland conveniently empowers users to switch between lending and trading views. Solend has called Margin a natural extension of lending. It has been launched in response to users having to perform additional and external steps just to manually margin trade by borrowing, swapping on another platform, and then returning to Solend to deposit collateral.
All the steps have been combined on a single platform. Network fees are still fractions of a penny. Confirmation by the platform is near instantaneous. Jupiter Exchange comes into the picture by supporting the swap function before deposits are made into Solend.
Advertisement
The development is fresh in the first phase. SLND’s market cap is down by 13.60%, but its 24-hour volume is up by 317.3%, paving the way for a window that can still bring the community to a higher level.
