Suilend said it will gradually discontinue STEAMM, its token issuance product, as it shifts focus back to Suilend’s lending business and other products that have yet to launch. The company said the STEAMM product homepage will be taken offline on Oct. 5. Existing positions will remain accessible through Suilend, and users will still be able to withdraw at any time.
The update follows an earlier ownership change. Foresight News previously reported that DeFi development team Bluewater completed its acquisition of Suilend in June this year. The deal also included STEAMM and SpringSui, two products in the broader Suilend ecosystem. The latest announcement does not mention changes to user access beyond the homepage shutdown date, but it does make clear that current positions will remain available through Suilend after the STEAMM page is disabled.
Suilend said it will gradually shut down STEAMM, its token issuance product, and redirect its efforts to Suilend’s lending product and other products that are yet to be released.
The STEAMM product homepage will go offline on Oct. 5, according to the announcement. Existing positions will still be accessible through Suilend, and users can withdraw at any time.
Bluewater acquired Suilend in June
Foresight News previously reported that Bluewater, a DeFi development team, completed its acquisition of Suilend, a lending protocol in the Sui ecosystem, in June this year. The acquisition also covered ecosystem products STEAMM and SpringSui.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
