Marcus from Script3 presented Blend Capital's five-month performance on Soroban, highlighting 237 unique wallets, $8.58M total deposits, and innovative auction-based liquidations. The team outlined future priorities: expanding wallet integrations, launching professionally risk-managed pools, and building an OTC lending framework for real-world use cases like remittance financing.
Marcus, CEO of Script3, presented Blend Capital's progress since launching with Soroban five months ago. Key metrics include 237 unique wallets, $8.58M deposited, $4.78M borrowed, and 17 successful liquidation auctions totaling $170K. Blend's unique features include permissionless pool creation, auction-based liquidations with minimal Oracle dependency, and a backstop insurance module. Current pools include a fixed XLM/USDC pool and a DAO-managed Yieldblocks pool. The team identified challenges: low Stellar DeFi awareness (0.51% TVL-to-market-cap ratio vs Ethereum's 20%), limited wallet integrations, and cold-start liquidity problems. Future priorities focus on expanding wallet integrations, launching professionally risk-managed pools with delegated risk managers, and building an open-source OTC lending framework for real-world lending use cases like remittance financing and SME lending in Africa.