The Ember suiUSDe vault routes Ethena's sUSDe yield onto the Sui network through Ember's vault infrastructure, packaging a synthetic-dollar return into a single Sui-native position with flexible withdrawals. The headline yield is high, reflecting the underlying Ethena strategy and additional incentives. It scores 55/100 (Tier 4) on the RWTS Trust Score: the return is real but it stacks Ethena's synthetic-dollar backing risk, cross-chain bridging, and Ember's newer vault and protocol risk on top of one another. A double-digit APY here comes with correspondingly layered, less-proven risk.
- Issuer / protocol
- Ember Protocol
- Backing
- sUSDe (Ethena) yield routed via Ember vault infrastructure
- Redemption / lock-up
- None (flexible)
- Audit & proof of reserves
- Independently audited
- Availability
- Global
- Chain
- Sui
- Tier
- Tier 4 — Synthetic & Structured
Scored on the published RWTS methodology (v1.1), reviewed quarterly and on material events. Ratings are independent and never pay-influenced.
Calculations are indicative. Actual yields may vary.
Price data from CoinGecko. Not financial advice.
Current yield of 12.00% sits at 40% of the observed range. There may be room for rates to improve.
Projections assume constant APY of 12.00%. Actual returns may vary. Not financial advice.
Beyond suiUSDe's own score, two structural questions matter: what is it built on, and what has broken before in this part of the market. A high score in isolation can still carry hidden, shared exposure.
sUSDe scores low on backing in our methodology (6 of 25) because it is a synthetic position, not a hard claim. Everything layered on it (the Pendle principal tokens, cross-chain vaults) inherits that backing risk one rung removed, while looking like a tidy fixed-yield product.
See the full chain →What this and similar assets are built on, and where contagion could spread.
The depegs, defaults, and exploits that inform the Track Record dimension.
Liquidity read: TVL of $25.00M indicates developing on-chain liquidity. Lock-up: None (flexible).
Is suiUSDe safe?
suiUSDe (Ember suiUSDe Vault) scores 55/100 on the independent RWTS Trust Score, which places it in Synthetic & Structured (Tier 4). Tier 4 is the highest-risk tier: synthetic or structured backing where the yield comes with genuine structural risk, not a hard claim. Backing: sUSDe (Ethena) yield routed via Ember vault infrastructure. It is independently audited. The score reflects backing, verification, redeemability, audit, regulatory standing, and track record, not headline yield. We rate. You decide.
Compare suiUSDe
Head to head on the Trust Score with similar assets.