# Ketju research: Suilend

- URL: https://riadefi.com/rejections/suilend/
- Verdict: rejected
- Type: Other
- Reviewed: 2026-08-19
- Last confirmed: 2026-08-19

## 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

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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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