Aave Alternatives on Sui: Lending Protocols Compared

Aave has no deployment on Sui, so the Aave alternatives on Sui are the chain's own lenders: Suilend, NAVI, Current and Scallop. A fifth, AlphaFi Lending, is winding down and no longer takes new deposits or borrows. Suilend and NAVI are close to level at about $143 million and $141 million of TVL on 31 October 2026, per DefiLlama, with Current third at about $55 million. This guide uses Aave V3 as the benchmark and checks which of its features each Sui lender has, feature by feature.

The post covers Sui only. For the multi-chain view (Morpho, Spark, Compound and the design choices that separate them), read our Aave alternatives guide. For the whole Sui market, see Sui TVL on DefiLlama in 2026.

Why there is no Aave on Sui

DefiLlama lists Aave on 23 chains. Aptos, through the separate Aave Aptos deployment, is the only Move-based chain among them. Sui is not on the list. A Sui user who wants Aave-style pooled lending has to use a Sui-native protocol.

The size gap is large. Aave across all versions held about $16.1 billion of TVL on 31 October 2026, and Aave V3 alone about $15.0 billion, of which $12.5 billion sits on Ethereum, per DefiLlama. The entire Sui chain held about $462 million that day. Every Sui lender combined is smaller than Aave V3's Base market.

What Aave V3 offers, as the benchmark

Aave V3 runs pooled markets. Suppliers of an asset share one pool, borrowers draw from it, and rates float with utilization. The features that matter for a comparison are these:

• E-Mode. Higher loan-to-value for correlated assets, such as stablecoins against stablecoins. Since V3.7 an E-Mode category can be isolated, and Aave's V3 overview says V3.7 removed the older Isolation Mode and siloed borrowing in favor of isolated E-Mode categories.
• Flash loans. Uncollateralized loans repaid in the same transaction, with a 0.05% fee set at deployment that governance can change.
• Oracles. Chainlink price feeds, plus a Correlated Assets Price Oracle (CAPO) that caps how fast a wrapped or staked asset's exchange rate can rise.
• GHO. Aave's own stablecoin, minted by borrowing against collateral in approved "facilitator" markets.
• Umbrella. A staking backstop that is gradually replacing the old Safety Module. Users stake aTokens such as aWETH or aUSDC, and those stakes can be burned to cover bad debt in the same asset on the same network, per Aave's Umbrella docs.

Aave also launched V4 on Ethereum on 30 March 2026, with a hub-and-spoke design where spoke markets draw liquidity from a shared hub (The Block). DefiLlama put V4 at about $671 million on 31 October 2026, so V3 still holds most of Aave's deposits.

Aave's 2026 record includes two incidents worth knowing. On 10 March, a CAPO misconfiguration caused about $26 million of unfair wstETH liquidations in E-Mode positions on Ethereum Core and Prime, and a compensation plan followed (The Block). On 18 April, an exploit of Kelp's rsETH bridge put unbacked rsETH into Aave as collateral, and Aave's service providers modeled bad debt between about $124 million and $230 million depending on how Kelp allocated the loss (Aave governance incident report). Our what is Aave explainer covers the protocol itself.

Feature parity: Aave V3 vs Sui lenders

TVL and borrowed figures are from DefiLlama on 31 October 2026. DefiLlama counts lending TVL as supplied minus borrowed, which is why Current's borrowed total is higher than its TVL: much of its supply is looped through its own products. "Not in docs" means we could not find the feature in the protocol's public documentation on that date; it does not prove the feature is absent.

Suilend

Suilend launched in March 2024. Its team runs SpringSui, the liquid staking standard behind sSUI, and the STEAMM AMM. sSUI is its largest collateral asset by far, at about $56 million on 31 October 2026.

Its answer to Aave's isolation tools comes in two layers. An isolated asset must be the only asset borrowed from that address. Isolated markets are separate markets with their own rate curves and loan-to-value ratios, so a failure there stays out of the main market (Suilend docs). Suilend Strategies adds one-click looping, such as sSUI/SUI.

On bad debt, Suilend's risk page says past shortfalls in the main pool were covered by top-ups from its insurance fund, and that losses in uninsured isolated pools can be socialized across depositors. That is the closest thing on Sui to Aave's Umbrella, though it is a treasury fund rather than a staking module. Audits are listed from Zellic and OtterSec (March 2024) plus a Certora formal verification in February 2026. Our Suilend explainer has more.

NAVI

NAVI has the most Aave-like feature set on Sui. Its borrow page offers a shared "by Market" mode with one health factor across assets, and a "by Pair" mode built on isolated single-pair markets with higher LTVs. Its docs list E-Mode pairs such as vSUI against SUI at 90% LTV and USDC against suiUSDT at 90%, and each E-Mode pair is managed as its own position, so a liquidation there does not touch the main market (NAVI E-Mode parameters). Flash loans are enabled on every pool.

Prices come from Pyth as the primary feed, with Supra cross-checking most assets and hard minimum and maximum bounds per asset. NAVX, the governance token, has a 1 billion maximum supply. To earn NAVX emissions you must lock NAVX liquidity-pool tokens worth at least 2.5% of your deposit. NAVI's largest collateral assets on 31 October 2026 were enzoBTC, haSUI and vSUI.

DefiLlama's hacks database lists no incident for NAVI's lending markets. It does record a $3.5 million private-key compromise at Volo Vault, part of the NAVI group, on 21 April 2026. Our Aave vs NAVI comparison goes deeper on the two.

Current

Current describes itself as a capital market for tokenized yield. It is built entirely on isolated lending markets, with Multiply (looping) and Margin (leveraged trading) products that use flash loans on the same pools. Its E-Mode groups pair correlated assets, such as haSUI against SUI at up to 90% LTV, and each E-Mode position is isolated from the user's main position and from other E-Mode positions (Current E-Mode docs).

Pricing uses Pyth, with the exponential moving average as the anchor for collateral value and liquidations and the spot price as a fast warning signal. Its audit page lists Asymptotic (lending, leverage and a formal verification report), MoveBit, a Sherlock contest and a Scalebit penetration test. DefiLlama first tracked Current in April 2026, and its largest assets on 31 October were USDC and svBTC. Incentives run through Current Points seasons.

Scallop

Scallop was one of Sui's first money markets and has shrunk the most. DefiLlama shows a peak of about $195 million in November 2024 against about $8.9 million on 31 October 2026. It sorts assets into three tiers: main, emerging, and isolated assets that need roughly 200% collateral and carry a 1% borrowing fee (Scallop docs). Its oracle page says it currently relies on Pyth alone, with multi-oracle checks on the roadmap.

SCA can be locked as veSCA for up to four years to boost borrow incentives. DefiLlama records a $142,000 reward-logic loss on Scallop Lend on 26 April 2026. Suilend vs Scallop compares the two directly.

AlphaFi Lending

AlphaFi Lend is the money market inside AlphaFi, a Sui yield platform that also runs auto-compounding vaults and the stSUI liquid staking token. Positions are held as NFTs, there is no borrow fee beyond interest, and stablecoins and SUI carry 85% LTV (AlphaFi docs). Its security page says no single vault or lending market can exceed $250,000 of TVL, with flow limiters on withdrawals.

DefiLlama shows AlphaFi Lending at about $74 million on 21 September 2026 and about $2.0 million on 31 October. On 25 September 2026 the Sui Network account posted that a misconfigured ALPHA price oracle had created bad debt in AlphaLend and that AlphaFi is winding down, with the Sui Foundation helping to keep the protocol solvent. Withdrawals are open, but new deposits and borrows have stopped, so it is not an option for new positions. Our AlphaFi explainer covers the rest of the platform.

What Sui lending still lacks next to Aave

Three Aave features have no full equivalent on Sui. No Sui lender we reviewed runs a staked backstop like Umbrella, where stakers explicitly accept being slashed for bad debt; Suilend's insurance fund is the nearest match. None issues its own stablecoin from the lending pools the way Aave issues GHO, although Sui has separate CDP stablecoins such as Bucket's (see what is Bucket Protocol). And none has Aave's depth: a $5 million withdrawal is noise on Aave's Ethereum market and a large move on most Sui pools.

Sui lenders are ahead in places. Isolated E-Mode positions are standard on NAVI and Current, while Aave only made E-Mode categories isolatable in V3.7. Current's Multiply and NAVI's Easy Multiply also package flash-loan looping into one-click products inside the lending app.

Who each Sui lender fits

• LST holders who want Aave-style E-Mode: NAVI (vSUI and haSUI pairs) or Current (haSUI, stSUI, afSUI and vSUI groups).
• sSUI holders: Suilend, which is sSUI's home market.
• Users who want each position walled off: Current's isolated markets, NAVI's by-Pair markets or Suilend's isolated markets.
• Existing AlphaFi Lending users: unwind and withdraw only, since the protocol is winding down and takes no new deposits or borrows.
• veSCA lockers and Scallop-native strategies: Scallop, accepting its single-oracle setup and small size.

Whichever you use, check utilization before supplying. At 100% utilization, withdrawals fail until borrowers repay. Our guide to DeFi liquidations covers the borrower side, and Sui lending protocols compared has the Sui-only breakdown of oracles and audits.

Where JewelSwap fits

JewelSwap does not run a pooled money market on Sui. It builds on one: its Scallop farms deposit your collateral into Scallop, borrow against it and supply the borrowed asset back, on pairs such as suiUSDT-USDC and BTC pairs, with auto-compounding. A shared veSCA position, funded by the SCA that JWLSCA stakers lock, boosts the farms' borrow incentives, so those farms carry Scallop's protocol, oracle and liquidation risks. JewelSwap also offers NFT-collateralized lending on Sui, a niche none of the pooled lenders above cover.

Frequently asked questions

Is Aave available on Sui?

No. On 31 October 2026 DefiLlama listed Aave on 23 chains, including Aptos through Aave Aptos, but not Sui. Sui users borrow through Sui-native lenders such as Suilend, NAVI, Current and Scallop. AlphaFi Lending is winding down and has stopped new deposits and borrows.

Which Sui lending protocol is most like Aave?

NAVI has the closest feature set: a shared pool mode, isolated pair markets, E-Mode pairs, flash loans on every pool and a governance token. Suilend matches Aave on pool depth, holding about $143 million of TVL against NAVI's $141 million on 31 October 2026, per DefiLlama.

Does any Sui lender have something like Aave's Umbrella?

Not as a staking module. Suilend says past bad debt in its main pool was covered by top-ups from its insurance fund. We found no Sui lender where stakers explicitly accept slashing to cover bad debt, as Aave's Umbrella stakers do.

Do Sui lending protocols offer E-Mode?

NAVI and Current both document E-Mode. NAVI lists pairs such as vSUI against SUI at 90% LTV, and Current runs E-Mode groups such as haSUI against SUI at up to 90% LTV. On both, each E-Mode position is isolated from the main position.

Why is Current's borrowed total higher than its TVL?

DefiLlama reports lending TVL as supplied assets minus borrowed assets. Current's Multiply and Margin products loop deposits through flash loans, so borrowing ($76.1 million) exceeds net TVL ($55.5 million) on 31 October 2026.

Educational only, not financial advice. TVL and borrowed figures from DefiLlama and features from each protocol's documentation, checked 31 October 2026. Lending carries smart-contract, oracle, liquidation and depeg risk, and rates and incentives change often.