Research summary
This registry rejects Suilend because it has no disclosed legal entity and has admitted a past bad-debt event whose size is unknown. Built by the team behind Solana's Save, formerly Solend, Suilend is a live, growing, Aave-like overcollateralized lending market on Sui with real spending on security. Zellic and OtterSec audited it for its March 2024 launch, and it has an active $250,000 bug bounty. But this review found no legal entity name or incorporation jurisdiction anywhere in Suilend's documentation or accessible terms. That is a real disclosure gap that this registry does not waive for an otherwise well-regarded product. More important, Suilend's own documentation says that "in the past, bad debt in main pool has been filled via top-ups from the Insurance fund." This is a real, admitted loss event that this review could not date, size, or otherwise verify from any source. The record therefore cannot be treated as clean or the loss as bounded.
Observable review triggers
- 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
- Type
- Other
- Chains examined
- Sui
- Reviewed
- Last confirmed