Ethena-backed suiUSDe goes live on Sui mainnet

Ethena-backed suiUSDe has gone live on Sui’s mainnet, bringing the network its first native synthetic dollar for margin trading and decentralized finance use.

Ethena-backed suiUSDe has officially launched on the Sui mainnet, bringing the network its first native synthetic dollar and expanding the range of assets available for onchain trading and lending.

The launch was announced by the Sui Foundation on Feb. 11, confirming that suiUSDe, also known as eSui Dollar, is now live and integrated with Sui’s (SUI) core financial infrastructure.

suiUSDe joins DeepBook Margin ecosystem

With the launch, suiUSDe becomes the first synthetic dollar supported by DeepBook Margin, Sui’s onchain margin and liquidity platform. This allows the asset to be used immediately for margin trading, lending, and leveraged strategies across the network.

Through DeepBook Margin, developers can add new financial products without building liquidation systems and risk tools from scratch. As a result, suiUSDe can be deployed across multiple DeFi applications while relying on shared infrastructure for settlement and risk management.

Several major Sui protocols are supporting the new asset from day one, including Aftermath, AlphaLend, Bluefin, Cetus, Deeptrade, Navi, Scallop, and Suilend. These integrations give both retail and institutional users access to new yield and trading options.

SUI Group Holdings, which focuses on institutional adoption within the ecosystem, has also backed the rollout. The company said the launch provides a foundation for more capital-efficient trading and liquidity strategies on Sui.

Expanding stablecoin use on Sui

suiUSDe was developed in collaboration with Ethena Labs and is powered by Ethena’s synthetic dollar infrastructure. Unlike bridged stablecoins, the asset is designed to operate natively within the Sui ecosystem.

The announcement states that by facilitating the use of dollar-based assets across various DeFi services, the goal is to lessen fragmentation and enhance liquidity. It is expected that the integration with DeepBook Margin will facilitate increasingly intricate trading and portfolio strategies. 

Additionally, SUI Group has seeded a permissionless vault on Ember Protocol with $10 million in newly minted suiUSDe. The vault has an initial capacity of $25M and is open to both institutional and retail participants, helping to bootstrap early liquidity.

Mysten Labs co-founder Adeniyi Abiodun said the launch shows how Sui’s composable infrastructure can support new financial products without heavy technical overhead.

The rollout follows earlier plans revealed in late 2025 to introduce native stablecoins tailored for Sui. With suiUSDe now live, the network adds a new building block for DeFi, aimed at supporting higher trading activity, deeper liquidity, and wider institutional participation.