The Suilend protocol has introduced sSUI, a liquid staking token (LST) built on the new SpringSui Standard. Liquid staking on Sui currently lags, with only 1.32% of staked assets compared to Solana’s 7% and Ethereum’s 41%.
SpringSui aims to bridge this gap by offering liquid-staked assets that deliver improved liquidity and reduced depegging risks through instant unstaking, setting a new benchmark in decentralized finance.
Today we're excited to announce the launch of sSUI – the future of liquid staking on Sui.
Currently, liquid-staked SUI assets only represent 1.32% of all staked SUI assets compared to 7% on Solana and 41% on Ethereum.
SpringSui is a unique, open-source LST standard designed for immediate liquidity and safety. By allowing instant unstaking, it minimizes the risk of depegging—an issue that traditionally plagued liquid staking tokens during market downturns. Additionally, SIP-33, authored by the Suilend team, enables instant redemptions, ensuring sSUI retains strong liquidity, which is critical to its stability and appeal in the Sui ecosystem.
Collaborations to Boost LST Adoption
Suilend has teamed up with two cutting-edge initiatives within the Sui ecosystem, Aftermath Finance, and Studio Mirai, to encourage adoption.
While Studio Mirai intends to develop a community-focused LST, Aftermath Finance will move its afSUI assets, which are now worth at over 24 million SUI, to the SpringSui Standard. These collaborations highlight SpringSui’s scalability and flexibility, which encourages developers to create their own LST solutions on Sui with security and liquidity guaranteed.
Enhanced Security and Industry Approval
Security is a priority for SpringSui, and the protocol has undergone a rigorous audit by Ottersec, with a second audit by Zellic pending. The community recognizes the significance of SIP-33, with industry leaders, including Mysten Labs’ CTO Sam Blackshear, lauding its impact on Sui’s DeFi ecosystem. SIP-33 ensures improved fungibility and safety of staked tokens, boosting the utility and security of liquid-staking products across the platform.
Suilend’s founder, Rooter, envisions a new era for liquid staking on Sui, with leveraged staking set to thrive through SpringSui. To support growth, Suilend has open-sourced the SpringSui Standard, encouraging developers to create custom LSTs and expand liquidity options. By offering permissionless deployment, SpringSui paves the way for dynamic LSTs, enabling users to manage liquidity securely and effectively within the Sui ecosystem
