EVERLEND

Everlend was a decentralized money market protocol designed to enhance capital efficiency in the DeFi space. Operating on the Solana network, it allowed users to lend their crypto assets to earn interest or use their assets as collateral to borrow other cryptocurrencies. The protocol aimed to innovate with features like on-chain risk analysis and flexible interest rate models. However, due to significant liquidity challenges within the Solana ecosystem following the collapse of FTX, the development team announced in December 2022 that they were sunsetting the protocol and transitioning the platform to a withdraw-only mode for users to safely recover their funds.