Solend & Snowflake
We’re thrilled to announce that Solend and Snowflake Network have partnered to give users and teams the ability to earn yields on their funds directly from a secure multisig. Future integrations for direct deposits and borrowing are in progress.
Snowflake is the first multisig platform on Solana directly integrated with Solend. Through our app store, teams will be able to select Solend to deposit funds into the reserve and mint cToken. cTokens are a yield-bearing deposit receipt, which means they are tradeable whilst also earning interest on the underlying token.
This opens the door for a whole new platform for teams and large investors, who are looking to lend and earn interest from their funds on-chain but want to ensure they can do so safely and securely via multisig support.
See It In Action
Solend integration through Snowflake Safe is available today on Solana Mainnet. When using the Solend application through Snowflake Safe, you will have the option to mint or redeemt cTokens on Solend. Before you submit the transaction, you will be able to view the changes to total amount of the underlying tokens in the Safe.
What if you have regular income coming into your safe that you wish to earn yields automatically the moment they arrive ? With Snowflake Safe automation capability, you can set this up in just a few clicks.
In the example below, you set it up for Snowflake Safe to invest 100 USDC into Solend on Monday every week. Once the proposal is approved and executed, simply sit back and let Snowflake Safe handle all the future actions on your behalf, as per the schedule you specified.
This is one of our many partnership integrations on Snowflake Safe. Stay tuned for many more Solana app integrations launching shortly.