Solana-based Lending Protocol Solend Raises $26.2M in IDO

Solend, a Solana-based borrowing and lending platform, has raised $26.2 million via an IDO (Initial DEX Offering) conducted this week.  (Source: Solend IDO page) The Solend IDO, which was modeled after Mango Protocol, lasted three days from November 1, 2021 to November 3, 2021, with several investors contributing their USDC stablecoin to the Solend’s pool, in order to redeem an amount of SLND tokens proportional to their deposit in the pool.