Vision
At Superlend, we aim to create a unified, efficient, and accessible decentralized finance (DeFi) lending and borrowing ecosystem. By addressing the challenges of fragmentation and inefficiency, we aspire to become the "1inch for lending and borrowing," streamlining the DeFi experience for users and maximizing capital efficiency.
Problem
The current DeFi lending landscape is highly fragmented:
Fragmented Markets: There are over 25 different lending protocols spread across various blockchains and Layer 2 solutions, resulting in more than 50 distinct markets. This fragmentation covers 90% of the lending Total Value Locked (TVL), which is approximately $23 billion according to DeFiLlama.
User Discovery Challenges: Users face difficulty discovering the best lending and borrowing rates due to the dispersion of data and liquidity.
Data Accessibility: Real-time data for lending and borrowing rates is hard to find, making it challenging for users to identify the most advantageous routes.
Capital Inefficiency: The scattered nature of the market leads to reduced capital efficiency as users are often confined to a few familiar platforms, missing out on better opportunities.
Cumbersome Platform Switching: Switching between different platforms is cumbersome, leading to missed opportunities and suboptimal returns.
Solution
Superlend provides an integrated solution to these challenges:
Unified Dashboard: A simple, user-friendly dashboard that consolidates all lending markets, offering real-time lending and borrowing data. This allows users to manage their positions from a single interface.
Cross-Chain Optimizer and Aggregator: An advanced optimizer that helps users maintain and manage their lending and borrowing positions at the best possible rates across different EVM chains.
Infrastructure for Seamless Movement: A robust infrastructure enabling users to move their positions from any money market on any EVM chain to another seamlessly.
Foundation for Cross-Chain Innovations: A foundational layer upon which more cross-chain optimizers can be built, including intent-centric infrastructure to match lenders and borrowers efficiently.
Opportunity
The DeFi lending market presents a significant opportunity:
Lending as a Major DeFi Category: Lending is the second-largest DeFi category after Liquid Staking, with a total TVL of $30 billion across 395 markets.
Concentration of TVL: 90% of the TVL is concentrated in just 25 protocols across 50 markets, including multiple markets of the same protocols across various L1 and L2 chains.
Stablecoins Dominance: Stablecoins are one of the leading markets, being among the most borrowed assets.
User Awareness and Trust Issues: A large majority of users are unaware of better rates available in different markets or do not trust other protocols even if they are direct forks.
Why Now?
The timing is crucial for Superlend to establish its presence due to these following factors:
Growing Money Markets: Money markets are one of the fastest-growing DeFi primitives, with a proven track record. The growth of stablecoin markets directly benefits on-chain money markets.
Proliferation of L2s and Novel EVM Chains: Layer 2 solutions and new EVM-compatible chains are here to stay, as evidenced by Ethereum's rollup-centric roadmap and the introduction of innovative EVM Layer 1 chains like Monad and SEI.
Need for Optimized Capital Deployment: While fragmented DEX liquidity problems have been addressed by aggregators like 1inch and Paraswap, and cross-chain bridges, the infrastructure for optimizing and aggregating capital in money markets is still lacking.
Emergence of New Lending Market Concepts: New concepts like MetaMorpho by Morpho, Fluid by Instadapp, and Silo Finance are emerging. Aggregators typically bring more volume and liquidity to newer platforms and facilitate the discovery of new opportunities.
Superlend is poised to transform the DeFi lending landscape by providing a comprehensive, user-centric solution that addresses current market inefficiencies. Our vision is to create a seamless, integrated platform that empowers users to make the most of their capital, discover the best opportunities, and contribute to the growth and maturity of the DeFi ecosystem.
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