- suiUSDe launches on Sui with a $10M vault to anchor liquidity across core DeFi markets
- DeepBook Margin adds its first synthetic dollar, expanding margin tools for Sui builders
- Ember Protocol operates the $25M-capacity vault to support early trading and lending
Ethena’s arrival on Sui came into focus this week as the network rolled out suiUSDe, a synthetic dollar built to plug directly into Sui’s expanding DeFi rails. The launch, confirmed by the Sui Foundation and Ethena, brings the first native synthetic dollar to the network and drops it straight into trading, lending, and yield systems that have been waiting for more stable liquidity.
Ethena Launches suiUSDe on Sui Network With $10M Yield Vault (Source: X)
Per reports, it went live across major Sui applications immediately and, perhaps more importantly, entered DeepBook Margin as the platform’s first supported synthetic dollar. The rollout signals a coordinated push to broaden Sui’s stablecoin mix but also shows how the network is positioning synthetic dollars as core liquidity rather than a side experiment. Activity began building almost instantly, supported by sizable capital placed behind the token from day one.
$10 Million Vault Moves Into Position
To keep momentum from stalling, SUI Group seeded a vault with $10 million worth of freshly issued suiUSDe. The vault, operated by Ember Protocol, a yield infrastructure outfit incubated by the team behind Bluefin, arrived with a $25 million capacity and an open, permissionless design.
It gives both institutions and everyday users a channel to earn returns on their stable holdings without wading through complex setup steps. The intention is clear enough. SUI Group wants liquidity to form early and to stay put long enough for the broader ecosystem to pull it into trading pairs, lending loops, and structured yield products.
Marius Barnett, who chairs SUI Group Holdings, said the effort was about giving Sui a native synthetic dollar framework and then pushing it into circulation rather than letting it sit idle. The vault, according to Barnett, is the lever that makes that happen.
“Launching the Ethena-backed suiUSDe was about establishing native, reliable dollar infrastructure on Sui…Seeding the suiUSDe Vault with $10 million is how we move that infrastructure into active use,” said Marius Barnett, Chairman of SUI Group, in the release.
Synthetic Dollar Model Extends Across Sui
Synthetic dollars follow a different playbook than fiat-backed coins like USDT or USDC. They depend on derivatives and other mechanisms at the protocol layer to hold a dollar peg while enabling yield as part of their core function.
Ethena’s original USDe, for example, has already grown significantly across chains, and its structure is now being ported into Sui through a whitelabel arrangement that avoids building new machinery from scratch. For Sui, the new token changes the complexion of its stablecoin landscape.
Instead of relying solely on bridged assets or reserve-backed tokens, developers now have access to yield-native liquidity issued directly on the network. That shift gives market builders more flexibility and shortens the path between stable assets and on-chain financial tools.
DeepBook Margin and Ecosystem Expansion
Notably, one of the first places suiUSDe landed was DeepBook Margin, which broadens the venue’s role beyond a central liquidity layer. With suiUSDe integrated, margin features, liquidation hooks, and reward logic now sit alongside spot activity.
Several ecosystem players, Abyss, Cetus, and Deeptrade among them, are enabling margin support, while Aftermath, AlphaLend, Bluefin, Ember, Navi, Pyth, Scallop, and Suilend are adding compatibility for the token.
SUI Group Holdings said the combination of suiUSDe and DeepBook Margin creates a base layer for more capital-efficient trading and liquidity provisioning. It also gives institutions a clearer entry point into Sui’s market structure, which the group has said aligns with its focus on scalable, systems-level infrastructure.
Strengthening Sui’s Position
With the vault funded and integrations underway, Sui gains a more competitive position among networks looking to build stable, yield-oriented liquidity. Besides, the addition of suiUSDe gives developers a faster, cheaper path to stable transactions and lets users move between trading, lending, and yield strategies without detours.
If adoption holds, the synthetic dollar may become one of the network’s most frequently used assets, driven not by hype but by straightforward utility that ties together several pieces of Sui’s DeFi stack.
