# Why Ketju rejected Suilend

- URL: https://riadefi.com/rejections/suilend/
- Exposure: other
- Memo version: v1
- Reviewed: 2026-08-19
- Next review: 2026-11-19

## 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

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Published by Ketju Research (https://ketjuresearch.com). Educational analysis only; not legal, tax, compliance, or investment advice.
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