Suilend's Multi-Product DeFi Suite

Suilend: Sui’s Leading Money Market

Since launching in March of 2024, Suilend has grown into the top money market on Sui, leading in deposits, borrows, and revenues. In doing so, it has flipped incumbents and first-movers Navi and Scallop on these key metrics, which both launched in July 2023.

While still neck and neck with Navi on active loans, Suilend recently decreased the borrow origination fee on its money market to 0%, while maintaining a take rate of ~20% on interest charged. The money market remains Suilend’s primary revenue vertical, with the borrow origination fee accounting for historically 30% of overall revenues. This parameter change was made in the effort to reduce costs to borrowers and win new loan origination away from Navi, who charges .30 bps on loan origination.  

In addition to the money market, Suilend has leaned into a multi-product DeFi suite, with the SpringSui liquid staking token (sSUI) and the STEAMM superfluid DEX. sSUI has grown into the top LST in the ecosystem, and while STEAMM liquidity and volumes remain relatively small when compared to competitor DEXs, volumes have demonstrated growing traction on a monthly basis since its launch at the start of Q1 2025. Suilend is uniquely positioned to win market share across multiple key product verticals.

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