SuiLend Questions Answered

SuiLend is a lending and borrowing protocol built on the Sui blockchain. Users deposit assets to earn yield, and other users borrow those assets by posting collateral.

The protocol runs multiple markets simultaneously — Main Market, Ember Market, Matrixdock Gold Market, and others — each with its own asset configurations and risk parameters. Every market operates independently, so exposure in one does not affect positions in another.

Click the "Connect wallet" button in the top-right corner of the interface. SuiLend supports Sui-compatible wallets. After connecting, your balances and open positions appear in the right-side panel.

You do not need to register an account. The protocol interacts directly with your wallet address — nothing is custodied by the SuiLend team.

The Main Market currently lists SUI, sSUI, USDC, suiUSDT, USDsui, suiUSDe, LBTC, suiWBTC, WBTC, xBTC, suiETH, SOL, DEEP, WAL, and a growing set of ecosystem LSTs including kSUI, stratSUI, oshiSUI, iSUI, mSUI, and others.

Assets fall into three categories: standard cross-collateral assets, isolated assets (SEND, IKA, HAEDAL, BLUE, NS, UP, DMC, mUSD), and deprecated assets. Isolated assets carry their own independent risk pools. Deprecated assets can still be withdrawn but no new deposits are accepted.

Deposit APR has two components. The base rate comes from interest paid by borrowers — it rises when utilization is high and falls when most liquidity sits idle. On top of that, some assets carry reward emissions paid in other tokens (for example, sSUI rewards displayed alongside a base rate).

Rates marked with an asterisk (*) include reward components that are not interest income. They can change whenever the protocol team adjusts emission schedules.

LTV stands for Loan-to-Value — the maximum fraction of your collateral's value you can borrow. An LTV of 70% on SUI means you can borrow up to $70 for every $100 of SUI deposited.

BW stands for Borrow Weight. It scales how much "borrow capacity" a liability consumes relative to its face value. A borrow weight of 1.6 on DEEP means each dollar of DEEP debt counts as $1.60 against your health factor. Higher borrow weights reduce how much you can safely borrow against that asset.

Liquidation happens when the value of your debt exceeds the value your collateral can support. A liquidator repays part of your debt and receives a portion of your collateral at a discount as compensation.

To avoid this, keep your health factor comfortably above 1. Depositing more collateral or repaying some debt both improve it. Volatile assets like DEEP or WAL can move quickly — positions using them as collateral need closer monitoring than stablecoin-backed positions.

SuiLend has undergone security reviews. The protocol lists a Security page at suilend.fi/security where audit reports and findings are published. No smart contract system is completely without risk — users should review the audit documentation before depositing significant funds.

The protocol does not hold private keys to user funds. All logic executes on-chain via Sui Move modules. That said, oracle failures, extreme market conditions, and undiscovered bugs remain risks inherent to any DeFi protocol.

Ember Market is a separate lending pool that lists assets specific to the Ember ecosystem — eTHIRD, eEARN, and USDC. It operates with its own deposit and borrow rates, entirely independent of the Main Market.

The practical difference is isolation of risk. Liquidity, utilization, and liquidation events in Ember Market do not affect the Main Market's USDC pool, even though both list USDC. Rates also differ: Ember's USDC deposit APR was near 8.44% at a recent snapshot versus 4.29% in Main Market.

Isolated assets can be deposited, but they cannot be used as collateral to borrow other assets — their LTV is 0%. You can still borrow the isolated asset itself if there is supply available, and you can earn the deposit APR by supplying them.

SEND, IKA, HAEDAL, BLUE, NS, UP, DMC, and mUSD are all currently isolated. This classification protects the broader pool from price volatility in lower-liquidity tokens.

sSUI is SpringSui's liquid staking token. When you stake SUI through SpringSui (accessible via the "Stake" link on the sSUI row), you receive sSUI that accrues Sui staking rewards automatically.

On SuiLend, sSUI is also used as a reward emission token. Several assets — SUI, USDC, suiUSDT, WBTC, xBTC, and others — distribute a portion of their deposit rewards as sSUI rather than as the asset itself. This is why sSUI logos appear in the Deposit APR column for many markets.

Idle assets earn nothing. SuiLend lets USDC holders earn over 4% APR from real borrower interest — no lock-up, withdraw any time liquidity is available. USDsui depositors were seeing 7.44% at a recent snapshot.

For SUI holders, depositing and receiving sSUI rewards means earning staking-like yield without giving up liquidity. The ability to borrow against your position is an additional option: hold your long SUI exposure while accessing stablecoin liquidity without selling.

The Matrixdock Gold Market is a purpose-built pool for XAUm — a tokenized gold product from Matrixdock — paired with USDC. XAUm carries an 80% LTV, meaning you can borrow up to $80 of USDC for every $100 of gold value deposited.

This market is designed for users who want to hold tokenized gold exposure on Sui while accessing liquidity against it. The USDC borrow rate in this pool is set independently and was near 9.54% at a recent point, reflecting the specialized nature of the pool.

Assets marked "Deprecating" — AUSD is currently one — are being wound down. New deposits may still be technically possible but the protocol discourages them. Borrowing rates may be elevated to incentivize repayment of outstanding debt.

If you hold a deprecating asset position on SuiLend, the recommended action is to withdraw your deposit or repay your borrow before the asset is fully removed. Fully deprecated assets still show in the interface under "Deprecated assets" so existing holders can manage their positions.

Total deposits is the raw value of all assets supplied to the protocol. TVL — Total Value Locked — subtracts outstanding borrows from deposits. It represents the net capital that is effectively "locked" and not lent out.

For the Main Market, deposits were approximately $162M and borrows $54.3M at the time of this writing, giving a TVL of roughly $108M. A lower TVL relative to deposits indicates higher utilization, which generally pushes deposit APRs higher as borrowers compete for available liquidity.

Yes. SuiLend lists several bridged assets — suiETH and suiWBTC come via Sui Bridge, while SOL arrives via Wormhole. Each asset's icon shows a small bridge logo indicating its origin.

Bridged assets carry the bridge's own smart contract risk in addition to SuiLend's protocol risk. The LTV for suiETH is 70% and for suiWBTC 60%, reflecting this added uncertainty compared to native Sui assets. The protocol also lists native alternatives where available — WBTC and xBTC alongside suiWBTC, for instance — so users can choose based on their own bridge preference.