The memo
REJECTED ON AN UNDISCLOSED LEGAL ENTITY AND AN UNQUANTIFIED PAST BAD-DEBT EVENT. Suilend, built by the team behind Solana's Save (formerly Solend), is a live, growing, genuinely Aave-like overcollateralized lending market on Sui with real security investment: Zellic and OtterSec audits from its March 2024 launch and an active $250,000 bug bounty. But no legal entity name or incorporation jurisdiction was found anywhere in Suilend's documentation or accessible terms — a genuine disclosure gap this registry does not waive for an otherwise well-regarded product. More consequentially, Suilend's own documentation acknowledges "in the past, bad debt in main pool has been filled via top-ups from the Insurance fund" — a real, admitted loss event this review could not date, size, or otherwise verify from any source, which is not the same as a confirmed clean or bounded track record.
What would reopen the file
- A named legal entity and incorporation jurisdiction are publicly disclosed
- The past bad-debt event referenced in Suilend's own documentation is dated, sized, and explained in a dedicated disclosure
- The Suilend DAO's current authority scope over pausing markets and adjusting risk parameters is confirmed
- Twelve consecutive months with no further bad-debt event drawing on the insurance fund
Facts on file
- Verdict
- Rejected
- Exposure
- other
- Chains examined
- Sui
- Memo version
- v1
- Reviewed
- Next review