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.
We are not publishing a current rate for this asset, so we will not project earnings from one.
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: we could not source a size for this asset, so we are not publishing one. 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.
Exit routes
59 of our 62 rated assets have been assessed on their exit routes. This one has not: we could not establish its redemption mechanics from a primary source, so its redeemability score still measures the contractual right alone and says nothing about how many independent routes exist. We would rather leave the gap visible than infer one.
Not assessed
Compare suiUSDe
Head to head on the Trust Score with similar assets.