What is Suilend (SEND)?

Deep Dive

1. Purpose & Value Proposition

Suilend solves inefficiencies in decentralized finance by offering undercollateralized loans and automated yield strategies. Its flagship feature, Suilend Strategies, packages leveraged staking and liquidity provision into preset workflows, enabling users to amplify yields (e.g., boosting SUI staking APY from ~5% to over 30%) without manual steps (Suilend). The protocol also mitigates liquidation risks through integrations like SpringSui’s instant redemptions for staked assets.

2. Technology & Ecosystem Integration

Built natively on Sui, Suilend leverages the blockchain’s high throughput and low fees to support real-time strategies. It interoperates with:
- SpringSui: A liquid staking protocol where users stake SUI to mint sSUI (used as collateral).
- STEAMM: An AMM DEX facilitating asset swaps for strategy loops.
This trifecta—lending, staking, and swapping—creates a closed-loop system, capturing 26% of Sui’s Total Value Locked (TVL) as of August 2025 (Messari).

3. Tokenomics & Buyback Mechanism

The SEND token governs protocol fees and funds buybacks. Revenue from interest spreads and trading fees is used to repurchase SEND from the open market—$2.6M had been bought back by August 2025, with a $9.1M treasury balance (SEND Dashboard). This deflationary model aligns incentives between users and tokenholders.

Conclusion

Suilend positions itself as Sui’s DeFi yield engine, combining lending, staking, and strategy automation under one roof. Its success hinges on maintaining robust risk controls amid Sui’s rapid ecosystem growth. How might Suilend balance innovation with stability as DeFi strategies grow more complex?