Suilend is a decentralized lending and borrowing protocol built natively on the Sui blockchain. It allows users to deposit crypto assets to earn yield and borrow against their collateral. The protocol is powered by smart contracts on Sui and supports a wide range of assets including SUI, sSUI, USDC, suiUSDT, suiETH, WBTC, and many more. Suilend features multiple isolated markets — including the Main Market, Ember Market, Matrixdock Gold Market, and Bucket Market — each with their own risk parameters and supported assets.
To deposit on Suilend, connect a Sui-compatible wallet (such as Sui Wallet, Suiet, or OKX Wallet) by clicking the "Connect Wallet" button in the top navigation bar. Once connected, browse the asset table in the Main Market or any other available market, click on the asset you wish to deposit, and enter the amount. Confirm the transaction in your wallet. After confirmation, your deposit will start earning the displayed Deposit APR immediately. You can also stake SUI for sSUI directly through Suilend to earn additional staking rewards on top of lending yield.
To borrow on Suilend, you must first deposit collateral. Each asset has a Loan-to-Value (LTV) ratio and a Borrow Weight (BW) that determine your borrowing capacity. For example, SUI and USDC have an LTV of 70–77%, meaning you can borrow up to 70–77% of your deposited collateral's value. Assets marked as "Isolated" have an LTV of 0%, meaning they can be deposited to earn yield but cannot be used as collateral for borrowing. Always monitor your health factor to avoid liquidation — if the value of your borrowed assets approaches your collateral limit, your position may be partially liquidated.
APR on Suilend is determined algorithmically based on supply and demand for each asset. When more users borrow an asset relative to the total deposits, the utilization rate increases, which drives Borrow APR higher and subsequently increases Deposit APR for lenders. Suilend also distributes additional reward tokens (such as sSUI, DEEP, WAL, IKA, HAEDAL, BLUE, and others) on top of base interest rates — these are shown with an asterisk (*) or a reward token icon next to the APR. Deposit APR figures marked with an asterisk include these external incentive rewards, so your effective yield may be higher than the base interest rate alone.
Suilend is built by the Mysten Labs-backed team and is one of the most established DeFi protocols on Sui, with over $200M in total deposits in its Main Market alone. The protocol has undergone multiple security audits. Smart contracts are deployed on Sui's Move-based virtual machine, which provides strong safety guarantees. Suilend implements isolated asset markets to contain risk, conservative LTV ratios, and liquidation mechanisms to protect the protocol's solvency. For the latest security information and audit reports, visit the Security page on the official site. As with all DeFi protocols, users should be aware of smart contract risk and market volatility.
Suilend operates multiple isolated lending markets to serve different user needs. The Main Market is the largest and most liquid, supporting assets like SUI, sSUI, USDC, suiUSDT, suiETH, WBTC, LBTC, DEEP, WAL, and many ecosystem LSTs. The Ember Market focuses on Ember Finance assets (eTHIRD, eEARN) and USDC. The Matrixdock Gold Market lets users use tokenized gold (XAUm) as collateral to borrow USDC. The Bucket Market supports USDB and USDC for yield generation. Each market has its own risk parameters, reward structures, and eligible assets. Positions in different markets are independent and do not affect each other's health factor.
Suilend supports all major Sui-compatible wallets. These include Sui Wallet (the official wallet by Mysten Labs), Suiet, Ethos Wallet, OKX Wallet, Nightly, and Martian Wallet, among others. Any wallet that supports the Sui blockchain and the dApp Kit standard should work seamlessly with Suilend. Simply click "Connect Wallet" in the top-right corner of the interface, select your preferred wallet, and authorize the connection. Make sure you are on the official Suilend domain before connecting your wallet to avoid phishing risks.
sSUI is the liquid staking token of SpringSui, a liquid staking protocol closely integrated with Suilend. When you stake SUI through SpringSui, you receive sSUI which accrues staking rewards over time. On Suilend, sSUI is one of the primary supported assets in the Main Market — it can be deposited as collateral (with 70% LTV) to earn additional lending yield on top of the underlying staking APY. Suilend also rewards depositors and borrowers of certain assets with sSUI tokens as incentives, making sSUI a central part of the Suilend rewards ecosystem. You can stake SUI for sSUI directly from the Suilend interface via the "Stake" link next to the SUI or sSUI asset rows.
