Acquisition Overview: Bluewater Acquires Suilend and Ecosystem Products
DeFi development team Bluewater has announced the completion of its acquisition of Suilend, a lending protocol built on the Sui ecosystem. The transaction also includes two ecosystem products from Suilend: STEAMM and SpringSui. Following the acquisition, Suilend will continue to operate as an independent platform, retaining its own brand identity, product direction, and infrastructure to ensure a smooth transition for users and the protocol.
Operational Arrangements and Leadership Changes
According to the announcement, Zabi, co-founder of Bluefin, will become the CEO of Suilend, leading the team to drive product development. During the transition period, the team will adopt a gradual and security-first approach. Users do not need to take any action; existing positions and protocol functions will remain fully operational. Suilend and Bluefin (a trading platform under Bluewater) will maintain separate brand and legal structures, but plan to achieve deeper integration in areas such as trading, lending, collateral, and liquidity in the future.
SEND Token Treatment
Notably, this acquisition does not include SEND tokens. SEND will be distributed to holders through a separate liquidation process, independent from Suilend's platform operations. This arrangement ensures that token holders' rights are not directly affected by the acquisition event.