We're continuing to ship improvements across Suilend to offer the best experience for lenders.
Latest update: a simpler way to manage Multiply rewards. See all your strategy rewards in one place and compound with a single click.
Explore Multiply on Suilend: https://t.co/w4HGihToEd
Suilend
Non-custodial lending protocol and DeFi suite on Sui from the creators of Solend
3.8/ 5
Our score
Good
Lending model
Pooled
Chains
Sui
Main collateral assets
SUIsSUIUSDCUSDsui+3
Audited
Yes
Governance token
SEND
What is Suilend?
Suilend is an autonomous, non-custodial lending and borrowing protocol native to the Sui blockchain. Developed as part of an integrated DeFi suite that includes the SpringSui liquid staking standard and the STEAMM automated market maker, the protocol provides money markets for crypto assets and tokenized real-world assets.
Team and backing
Suilend was founded in 2024 by Rooter, the pseudonymous creator of Solana lending market Solend (Save). The project raised $6M in total venture funding, completed in December 2024. The financing was led by Robot Ventures, with participation from Delphi Ventures, AllianceDAO, Mechanism Capital, Karatage, and Mysten Labs.
Lending mechanics and real-world assets
Operating as a pooled liquidity protocol, Suilend lets depositors supply assets to earn interest while borrowers draw collateralized loans. The platform includes isolated and specialized lending pools, such as the Ember Market for USDsui, USDC, and eEARN, alongside markets for tokenized private credit. Supported real-world assets include PPLUS, a Bitwise-curated portfolio vault issued through Ember Protocol, and HIGH, a tokenized high-yield credit fund built on Securitize infrastructure. Users can execute one-click looping leverage via the Multiply feature and manage governance using the SEND token.
Availability and fees
Suilend functions globally without identity verification or account onboarding requirements, connecting directly to Sui-compatible non-custodial wallets. Interest rates are determined programmatically based on supply utilization curves across individual liquidity pools. Flash loans and liquidation penalties follow parameters defined directly within the protocol smart contracts.
Growth and security track record
The protocol went live on Sui mainnet in March 2024. Total value locked crossed $1B in January 2025, and monthly active wallets topped 50,000 by February 2025. As of October 2026, total value locked stands at around $162M. Suilend maintains audited smart contracts, with audit reports publicly documented in its technical resources and verified on CertiK Skynet, where it holds an A security rating.
Protocol risks
Users face inherent DeFi risks including smart contract bugs in lending pools, price oracle latency, and unexpected liquidation slippage during volatile market swings. Lending yields and borrowing borrowing costs vary dynamically with utilization. Depositors utilizing tokenized real-world assets also take on underlying asset credit risk and issuer dependencies tied to third-party issuers like Ember Protocol and Securitize.
Founders
RooterFounder
Pseudonymous developer and founder of Solend (Save).
Best for:Sui network borrowers and lendersDeFi users seeking tokenized private credit collateralYield farmers using automated leverage loops
Pros and cons
Pros
- No KYC verification required to supply or borrow assets
- Raised $6M from investors including Robot Ventures and Delphi Ventures
- Supports tokenized real-world assets including Bitwise PPLUS and HIGH
- Holds public security audits and an A grade on CertiK Skynet
- One-click Multiply feature simplifies automated leverage looping
Cons
- Restricted entirely to the Sui blockchain ecosystem
- Real-world asset collateral carries issuer dependency and off-chain credit risks
- Variable interest rates fluctuate unpredictably during heavy pool utilization
- TVL fell from a peak of $1B down to $162M in October 2026
- Led by a pseudonymous founder
Our review
3.8/5
Good
Suilend provides deep liquidity, one-click leverage, and tokenized real-world assets on Sui, but it limits users to a single blockchain and relies on variable lending rates.
Suilend launched in March 2024 as an autonomous pooled lending protocol on the Sui blockchain. Created by pseudonymous developer Rooter and built by the team behind Solend (now Save), the platform expanded from core money markets into an integrated DeFi suite. By October 2026, protocol TVL was about $162M, down from a peak of $1B in January 2025.
The platform differs from simpler lending protocols through its integration across adjacent primitives and real-world asset collateral. Alongside standard pooled lending, Suilend incorporates the SpringSui liquid staking standard, the STEAMM superfluid automated market maker, and one-click looped leverage through its Multiply feature. It has also added tokenized credit markets via Ember Protocol and Bitwise, including the PPLUS and HIGH vaults, offering yields backed by U.S. high-yield debt and curated asset portfolios.
Trade-offs center on ecosystem exposure and variable rate volatility. Suilend operates exclusively on Sui, so users managing multi-chain collateral must rely on external bridges. Like most pooled money markets, borrowing costs fluctuate based on pool utilization, exposing active borrowers to sudden rate spikes during market dislocations. Depositors also carry smart contract and collateral depeg risks across both algorithmic assets and offchain credit structures.
Suilend suits active onchain traders and yield farmers on Sui who want leveraged exposure alongside tokenized real-world assets. Users who require multi-chain collateral flexibility or fixed borrowing costs should look toward alternative lending networks.
Sources (2)
Specs
| KYC required ⓘ | No · unverified |
|---|---|
| Lending model | Pooled |
| Chains | Sui |
| Main collateral assets | SUI, sSUI, USDC, USDsui, PPLUS, HIGH, eEARN · unverified |
| Audited | Yes |
| Governance token | SEND |
| Isolated markets | Yes · unverified |
| Real-world-asset collateral | Yes · unverified |
| Own stablecoin | No · unverified |
| Rates | Variable · unverified |
Not disclosed by the provider: Flash loans, Permissionless markets, Bug bounty.
Data from the provider's website and public sources. Fees and availability change; confirm on the official site before you sign up.
Key features
Pooled and isolated lending
Deposit crypto assets or tokenized credit into shared or isolated liquidity pools on Sui to earn floating yields or borrow against collateral.
Tokenized RWA collateral
Supply yield-bearing real-world assets such as Bitwise PPLUS and Ember Protocol HIGH tokens as loan collateral.
Multiply leverage tool
Execute automated looping strategies with a single transaction to scale collateral exposure and aggregate strategy rewards.
DeFi suite integration
Natively connect positions with SpringSui liquid staking tokens like sSUI and the STEAMM superfluid automated market maker.
Non-custodial wallet access
Interact directly through Sui browser wallets without onboarding steps, identity verification, or custody handoffs.
Inside Suilend
Suilend Lending & Borrowing
The core pooled money market where users deposit crypto assets to earn interest or borrow against supported collateral.
Multiply
A leveraged execution tool that lets users loop supply and borrow positions in a single transaction to amplify yields.
SpringSui
A liquid staking protocol and standard that mints tokens such as sSUI to unlock liquidity while earning network staking rewards.
STEAMM
A superfluid automated market maker integrated with Suilend to provide capital-efficient liquidity across ecosystem pairs.
Ember Market
Dedicated lending pools featuring tokenized real-world assets, including the Bitwise PPLUS vault and U.S. high-yield credit via HIGH.
Suilend screenshots
What users say about Suilend
User feedback notes attractive USDC returns alongside cautionary notes regarding borrowing risks and underlying network disruptions.
In their own words
“I have used suilend.fi for good returns on USDC. Please don’t borrow there though, tricky unless you monitor it and pay back relatively quickly, liquidation risk is a big deal. SUI has had network halts, epoch issues, and gas logic bugs that paused transactions, to include Suilend Finance.”
Scam warning: Socially engineered scams and impersonation schemes targeting users on X have led to asset theft.
Based on 1 Reddit posts and comments from the last 12 months, checked Oct 20, 2026. These are posts by users on other sites, not reviews submitted on CryptoReview.
User reviews
No user reviews yet. Have you used Suilend? Share your experience below.
Funding and investors
$6MTotal raised
1Round
16Investors
-
Funding round Dec 2024 $6M
Robot VenturesVenture capital
Lead
AllianceAccelerator
AM AmbushVenture capital
Big Brain HoldingsVenture capital
BV Bodhi VenturesVenture capital
CV Comma3 VenturesVenture capital
DV Delphi VenturesVenture capital
FC Figment CapitalVenture capital
KA KaratageVenture capital
MC Mechanism CapitalVenture capital
MR MrBlockAngel investor
ML Mysten LabsCorporate VC
NC Nonce ClassicVenture capital
QU QuantstampVenture capital
SD Side Door VenturesVenture capital
SC Starkiller CapitalVenture capital
FAQ
Who founded Suilend?
Suilend was founded by the pseudonymous developer Rooter, who previously created the Solend lending protocol on Solana. The project launched on Sui in March 2024.
Does Suilend require KYC?
No, Suilend does not require KYC. Users interact directly with non-custodial smart contracts using a compatible Sui wallet.
Has Suilend been audited?
Yes, Suilend has published security audits, including multiple third-party reviews tracked through its documentation.
What chains does Suilend support?
Suilend operates exclusively on the Sui blockchain.
Does Suilend have a governance token?
Yes, Suilend uses the SEND governance token for protocol incentives and decentralized decision-making.
What assets can be used as collateral on Suilend?
Suilend supports standard Sui tokens like SUI and USDC, liquid staking tokens via SpringSui, and tokenized real-world assets including Bitwise PPLUS and HIGH.
Latest from Suilend on X
The Suilend Ember Market has crossed $15M in supplied assets.
Put your USDsui, USDC or eEARN to work. Explore the markets: https://t.co/6LR2t6ghH3 https://t.co/24diulxbzU
Put your USDsui, USDC or eEARN to work. Explore the markets: https://t.co/6LR2t6ghH3 https://t.co/24diulxbzU
The Bitwise market has been one of the fastest-growing markets on Suilend.
Over $7M has already been supplied, giving PPLUS holders more ways to put their assets to work across DeFi.
Explore PPLUS: https://t.co/KCw6mrI9fz
Over $7M has already been supplied, giving PPLUS holders more ways to put their assets to work across DeFi.
Explore PPLUS: https://t.co/KCw6mrI9fz
Over $10M has been deposited into the @Bitwise market on Suilend.
Five days after launch, PPLUS is already the largest RWA market on Suilend, marking a strong early milestone for the strategy and the growth of tokenized real-world assets on @SuiNetwork.
PPLUS is issued through @EmberProtocol and curated by @Bitwise.
Deposit and earn: https://t.co/WQsgGlo1HW
Five days after launch, PPLUS is already the largest RWA market on Suilend, marking a strong early milestone for the strategy and the growth of tokenized real-world assets on @SuiNetwork.
PPLUS is issued through @EmberProtocol and curated by @Bitwise.
Deposit and earn: https://t.co/WQsgGlo1HW
Security has always been the foundation of Suilend.
Suilend has been battle-tested through multiple market cycles, with security and risk management at the core of how the protocol is built and operated.
For users looking for a lending venue on Sui, Suilend remains fully operational and unaffected.
Suilend has been battle-tested through multiple market cycles, with security and risk management at the core of how the protocol is built and operated.
For users looking for a lending venue on Sui, Suilend remains fully operational and unaffected.
Recent public posts from @suilendprotocol, shown as published. Not reviewed or endorsed by CryptoReview.
Alternatives to Suilend
Permissionless lending protocol and curated vaults securing over $11B across EVM chains
No KYCIsolated marketsEthereum · Base +2Permissionless markets
Pooled lending protocol founded in 2017, operating across 23 blockchain networks
No KYCPooledEthereum · Base +4Audited
Algorithmic money market lending single base assets across EVM networks since 2018
No KYCIsolated marketsEthereum · Arbitrum +1Audited
Solana money market protocol built by Jupiter with over $1B in total value locked
No KYCPooledSolanaAudited
Solana lending and liquidity protocol with over $1.3B in TVL and fixed-rate borrow markets
PooledSolanaAudited
Institutional onchain lending protocol managing over $4.6B across overcollateralized credit pools
KYC requiredPooledEthereumAudited