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).