ME News reports that on June 26 (UTC+8), the DeFi development team Bluewater completed the acquisition of Suilend, a lending protocol within the Sui ecosystem, along with its ecosystem products STEAMM and SpringSui. Following the acquisition, Suilend will continue to operate as an independent platform, retaining its brand, product direction, and infrastructure. Additionally, Zabi, co-founder of Bluefin, will assume the role of CEO of Suilend. During the transition, the team will adopt a gradual, security-first approach; users need take no action, as existing positions and protocol functionalities will remain fully operational. Suilend and Bluefin will maintain separate brands and legal structures but plan deeper integration in the future across trading, lending, collateral, and liquidity. This acquisition does not include the SEND token, which will be distributed to holders through a separate liquidation process. (Source: Foresight News)
Bluewater Acquires Suilend and Its Products, Which Will Continue Operating Independently
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Summary
Bluewater acquires Suilend and its products, including STEAMM and SpringSui, as part of ongoing ecosystem growth within the Sui network. Suilend will continue operating independently, retaining its brand, product direction, and infrastructure. Zabi, co-founder of Bluefin, will serve as CEO. The transition will be gradual, requiring no action from users. Bluewater and Suilend plan deeper integration in trading and liquidity. The SEND token is excluded and will be liquidated separately. This move aligns with developments in the Ethereum ecosystem and broader DeFi expansion.
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