Summary
Ketju does not approve Suilend: it discloses no legal entity, and its documents admit a past bad-debt event whose size we could not find. The team behind Save on Solana, formerly Solend, built Suilend, a live and growing overcollateralized lending market on Sui much like Aave. Zellic and OtterSec audited it for its March 2024 launch, and it runs a $250,000 bug bounty. We found no legal entity name or incorporation jurisdiction in Suilend’s documents or terms. Ketju does not waive that gap for a well-regarded product. Suilend’s documents say "in the past, bad debt in main pool has been filled via top-ups from the Insurance fund." We could not date, size or verify that loss, so we cannot call its history clean or the loss limited.
Review triggers
- Suilend publishes a named legal entity and incorporation jurisdiction
- Suilend publishes the date, size and cause of the past bad-debt event its documents mention
- Suilend confirms the DAO’s current powers to pause markets and change risk settings
- Twelve consecutive months pass with no further bad debt drawn from the insurance fund
Facts
- Verdict
- Not approved
- Type
- Other
- Chains examined
- Sui
- Reviewed
- Last confirmed