As attention gradually shifts toward emerging Layer 1 ecosystems, Sui is quietly carving out space in both infrastructure and applications. Among the earliest and most promising DeFi protocols on Sui is Suilend—a lending and borrowing platform built with speed, simplicity, and serious pedigree.
What Is Suilend?
Suilend is a non-custodial lending and borrowing protocol that is built on the Sui blockchain. It provides a platform through which one can deposit their cryptos for earning interest or for use as a collateral and borrow other tokens.
It’s not a fork or a first shot, though. Suilend is constructed by the founding team that introduced us to Solend—a popular platform for borrowing on Solana that once hosted more than $900M in TVL. The team has since renamed itself Save and is looking to move into the Sui ecosystem, targeting Suilend to eventually be the de facto platform for borrowing on Sui that Solend was for Solana.
Suilend has no token yet; however, it’s currently running an early user points campaign, and that might be a precursor for potential airdrops or community token rewards.
How Suilend Works
At its core, Suilend follows a familiar DeFi model:
- Users deposit collateral
- They earn interest on deposits or use that collateral to borrow other assets
- Interest is determined by Deposit APR and Borrow APR
The interface is clean and accessible—users connect a Sui-compatible wallet, deposit an asset, and either borrow against it or earn passive yield.
Two key metrics every user should monitor:
- Loan-to-Value (LTV): Defines how much you can borrow against your collateral. For example, with a 70% LTV, you can borrow assets worth up to 70% of your deposit. If price volatility pushes your position above this threshold, Suilend will automatically liquidate some of your collateral to bring your LTV back within safe limits. To stay safe, it’s often recommended to borrow at 50% LTV or lower.
- APR (Deposit and Borrow): The platform displays two rates—what you earn for supplying capital (Deposit APR) and what you pay for borrowing (Borrow APR). On Suilend, it’s not uncommon to find Deposit APRs higher than Borrow APRs, creating interesting opportunities for neutral or even positive-yield borrowing.
What Makes Suilend Stand Out
1. Built on Sui: Fast, Cheap, and Scalable
Suilend inherits the best of the Sui network—ultra-low gas fees, sub-second finality, and a scalable Move-based execution layer. Where lending protocols truly shine, for protocols for which transactions like repayments, liquidations, and deposits are perpetual, speed and cost-efficiency come into their own.
2. A Proven Team with Solana Roots
The developers behind Suilend aren’t anonymous hobbyists—they’re the same team who built Solend. That experience is reflected in everything from the protocol design to the user experience. While the team remains pseudonymous, accounts like @oxrooter (CEO) and @0xodia (Technical Lead) are active contributors on X.
3. Native and Wrapped Assets
One limitation of the Sui ecosystem has been asset diversity. Suilend solves this by integrating with Wormhole, bringing in wrapped versions of high-demand assets like ETH, SOL, and USDC. This allows users to lend and borrow blue-chip tokens while still participating within the Sui environment.
4. Attractive Interest Rates
Suilend has significantly more attractive rates by comparison. APRs for borrowers are between 1% and 5%, significantly lower than the 10–15% that is typical for Ethereum-based protocols. Suilend Deposit APRs are, however, very high in an effort to incentivize active lenders and borrowers who are capital efficient.
Is Suilend Just Another Lending App?
Not quite.
Most new DeFi apps launching on emerging chains fall into two buckets: clones of older protocols or low-effort liquidity traps chasing short-term yield. Suilend doesn’t fit either mold. It’s a serious protocol built by a team with a track record, targeting long-term ecosystem growth.
The absence of a token is intentional. It lets the team build trust with users through functionality rather than speculation. And with a points system already in place, users still have upside potential if a token is introduced later.
Final Thoughts
Moving forward, as DeFi on Sui continues its growth and maturation, Suilend is well-positioned as a system centerpiece. It combines the execution of Sui, the technical know-how of the Solend team, and a power user- and newbie-friendly streamlined user flow.
If you are already on Sui and want a way to give idle assets a job—and access borrowing plays without forking out 15% APR—Suilend is squarely worth keeping an eye on.
And if you’re playing the long game in Sui’s ecosystem, participating early could offer both yield and positioning for whatever comes next.
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