Solend wallet

What is Solend (SLND)?

Lending on Solana is what SLND was created around. The protocol lets deposited assets be borrowed against, with interest rates set by formula rather than negotiation, and organises markets into a main pool plus isolated pools so that a risky asset's problems stay contained. SLND is the governance token for that system, and it is worth being precise about what it is not: deposits into the protocol are represented by separate collateral tokens issued per market, and SLND is none of them. Holding SLND gives you a voice in how the markets are parameterised, not a position in any of them.

The protocol later took the name Save, while listings and wallets have largely kept the SLND ticker, so seeing two names attached to the same thing is not a sign that you are looking at the wrong asset.

Mechanically it is an SPL token. It sits in a token account belonging to your Solana address, that account carries a small SOL rent deposit, and SOL pays the fee on every move. Voting happens by signing a message or transaction with the key that holds the tokens, which means the key matters more than the frequency of use.

Supported networks in Tangem (1): Solana. The key that signs a governance vote is generated on the card's chip and never leaves it, and the backup is a second identical card rather than a phrase on paper, unless you specifically want a phrase. For tokens whose whole purpose is being able to sign something occasionally, years later, that arrangement is the one that holds up.