According to Foresight News, the Solana-based lending protocol Save, formerly known as Solend, has announced that its total value locked (TVL) has surpassed $400 million.

This milestone marks a significant achievement for Save, reflecting growing user confidence and adoption within the Solana ecosystem. The increase in TVL indicates a rising interest in decentralized finance (DeFi) platforms on Solana, which has been gaining traction due to its high-speed transactions and lower fees compared to other blockchain networks.

Save's growth is part of a broader trend in the DeFi space, where various protocols are seeing increased participation and investment. The platform allows users to lend and borrow assets, providing liquidity and earning interest on their holdings. The recent surge in TVL suggests that more users are leveraging these financial services, contributing to the overall expansion of the DeFi sector on Solana.

As the DeFi landscape continues to evolve, Save's achievement highlights the potential for further growth and innovation within the Solana ecosystem. The protocol's success could attract more developers and projects to build on Solana, further enhancing its position in the blockchain industry.