Retroactive Liquidity Mining

TL;DR: Retroactive liquidity mining rewards can now be viewed on These tokens are still being earned and will be claimable following the IDO (details soon).

Since launching to mainnet on August 12, 2021, Solend has amassed over $200M in deposits, over $100M in borrows, and over $100M in TVL!

Solend also has:

65K accounts with at least $1 deposited

25K Twitter followers

11K Discord community members

Solend’s growth has been tremendous and we’re delighted by the community forming around Solend! Solend will decentralize to this community over time. The first step is to cultivate an active and engaged community of SLND governance token holders, which being bootstrapped by doing a retroactive airdrop to users of the protocol.


There are 100M SLND tokens in total, 60% of which are reserved for the community. Half of that is set aside for distribution to the community via liquidity mining over 3 years. A full piece about Solend tokenomics will follow.

SLND is being emitted at a rate of 0.1585 per slot (10M / slots per year, where slots are every 500ms). These rewards are split evenly between supplying and borrowing, and are distributed proportionally according to each market’s weight:

Within each market, rewards are calculated by percent ownership per slot.

For example, the SOL pool is rewarded

3 / (3 + 3 + 2 + 2 + 1)
= 3 / 11
= 27.27%

of rewards per slot. That makes 13.63% for supplying SOL and 13.63% for borrowing.

All you have to do to earn liquidity mining rewards is use Solend — by supplying or borrowing SOL, USDC, ETH, BTC, or USDT.

Rewards will be claimable after the IDO provided more than 0.1 SLND has been accumulated at that time. Details about the IDO will follow shortly. For now, you can see how much SLND you’ve earned and are currently earning. dashboard showing liquidity mining rewards.

Note that in the future, the liquidity mining program will change. Rewards will be distributed as call options (in collaboration with PsyOptions). More details will be shared when this launches.


The distribution of liquidity mining rewards is wide. The following shows the distribution of rewards from a snapshot taken on 10/19/2021:

Snapshot from 10/19/2021. Accounts after the top 1000 not rendered since they’re not visible.

Solend has had user deposit limits (enforced on the frontend) and global deposit limits (enforced on the smart contracts) since launch. These limits were put in place to limit value-at-risk when Solend was new, but also served to prevent whales from dominating pool ownership. As a result, the retroactive liquidity mining rewards are well-distributed.

In light of the recent attention that Sybil attacks on liquidity mining programs have had, it’s worth mentioning that creating multiple accounts to use Solend from does not give outsized rewards. This is because rewards are linearly determined by percent ownership of a pool.


Now that Solend has been on mainnet for over two months, the promotional low-fee period has ended. Fees for the incentivized markets have been increased to 10 bips (0.1%) which is in line with other lending protocols. Fees for non-incentivized markets remain at 1 bip (0.01%).


We’re excited that anyone with an internet connection can be a part of Solend’s future governance just by using it today. Participate at

Source : Solana Medium

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