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anchored·43t4di…yXfJSummary
Save (formerly Solend) is a Solana-based algorithmic lending and borrowing protocol that has operated since 2021. The protocol has been flagged by ZachXBT and carries a history of two significant incidents: a controversial governance vote in June 2022 that briefly granted the team emergency powers to seize a user's wallet, and a $1.26 million oracle manipulation exploit in November 2022. The protocol rebranded from Solend to Save in late 2024 and continues to operate with approximately $74 million in total value locked as of mid-2026.
Connected Entities
1 entities- + 1 more
Timeline(11 events)
2021
Solend protocol launches on Solana as an algorithmic lending and borrowing platform.
Save Finance documentation19 June 2022
Solend passes governance proposal SLND1, granting the team 'emergency powers' to take over a whale user's wallet holding 5.7 million SOL and $108 million in stablecoin borrows. Proposal passes 97.5% in favor with only 1.13% quorum participation, within a seven-hour window.
CoinDesk20 June 2022
Community backlash prompts a second governance vote, SLND2, which passes with 99.8% approval and invalidates SLND1, revoking emergency powers. Minimum voting period extended to one day.
Fortune21 June 2022
The whale borrower begins moving funds, transferring $25 million in USDC debt to Mango Markets, reducing systemic risk on Solend.
CoinDesk28 June 2022
Binance intervenes to facilitate an OTC liquidation of the remaining whale position, resolving the liquidation crisis without triggering a chaotic on-chain sell-off.
Fortune28 October 2022
First attempted USDH oracle manipulation attack on Solend; arbitrage activity reverses the price manipulation in the same block, preventing a successful exploit.
Ackee Blockchain2 November 2022
Solend suffers a $1.26 million oracle manipulation exploit targeting the USDH stablecoin price feed. The Stable, Coin98, and Kamino isolated pools are drained. Affected pools are disabled.
CoinDesk16 August 2023
Solend announces that all users affected by the November 2022 oracle exploit have been fully compensated. Approximately $900,000 was recovered from the attacker; the protocol covered the remainder.
Ackee Blockchain / Solend announcementMarch 2024
The Solend team (pseudonymous founder Rooter) launches Suilend on the Sui blockchain, which becomes Sui's leading DeFi lending protocol.
Sui BlogAugust 2024
Solend (now operating as Save Finance) reaches over $400 million in TVL, marking its peak under the rebranded identity.
Analytics Insight12 December 2024
Save Finance completes the token migration from SLND to SAVE at a 1:1 ratio, formalizing the rebrand.
Save FinanceDecision Log
- hash: 13Y6xLujSxeZWUhLPJNTVKirnY2VCtVHcUuT4TLXmJuM
This investigation is cryptographically anchored to the Solana blockchain (1 event). 20 of 25 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:46 AM
last updated: 8/30/2026, 5:14:12 AM
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