Stablecoin yield on Sui, without picking a lender

Deposit USDC and get jcUSDC, a share of the vault. A bot lends the vault's USDC to whichever Sui lending market pays most, inside caps the contract enforces, and the jcUSDC share price rises as interest comes in.

Lending only, no leverage48-hour timelockCapped at 10,000 USDC
Open the USDC VaultRead the docs
USDC Vault (jcUSDC)
Net APY
Live in app
Deposit cap
10,000 USDC
LendersNAVI, Scallop, Suilend
Cap per lender5,000 USDC or 50%
Performance fee10% of gains
Deposit and withdrawal feeNone
Curator3-of-5 multisig

How the vault earns

USDC supply rates on Sui move every day with borrowing demand. Moving by hand costs a transaction each time and someone has to watch the numbers. The vault does both.

Step 1

Deposit USDC

You get jcUSDC, a normal Sui coin that represents your share of the vault.

Step 2

The bot allocates

It compares supply rates across the approved lenders and moves USDC when the gap is worth the gas. About 3% stays idle for quick exits.

Step 3

Interest compounds

Lenders pay interest into the vault, so each jcUSDC redeems for more USDC over time. You don't claim anything.

The lenders

Each lender has an absolute cap and a cap as a share of the vault. The bot cannot go past either.

NAVI

Live since launch on 7 November 2026. Can hold up to 100% of the vault. What is NAVI Protocol?

Scallop

Joins on 10 November 2026 when the 48-hour timelock ends. Capped at 5,000 USDC or 50% of the vault. Scallop explained

Suilend main pool

Joins on 10 November 2026 with the same 5,000 USDC or 50% cap. What is Suilend?

Limits written into the contract

StrategySupply USDC only. No borrowing, no swaps.
New lender or higher capProposed on chain, live 48 hours later
Who approves changes3 of 5 multisig signers
What the bot can doMove USDC between approved lenders, within caps
Loss checksEvery move checked for slippage and a daily gain limit
Forced exitAnyone can fund a ticket left unpaid for 48 hours

Risks

  • Lender risk. If NAVI, Scallop or Suilend takes a loss or pauses withdrawals, the part of the vault lent there is affected. Per-lender caps limit how much any one lender holds.
  • Smart-contract risk. The vault and its lender adapters are new code with an internal review and no external audit yet.
  • USDC risk. The vault holds USDC the whole time, so a USDC depeg hits it directly.
  • Exit timing. A large exit may wait for its ticket to be funded, up to the 48-hour forced-exit backstop.

Questions

What APY does the USDC Vault pay?

The rate is variable. It is the supply rate of the lenders holding the vault's USDC, plus their incentives, after the 10% performance fee. The vault page in the app shows the live Net APY.

Does the vault use leverage?

No. The contract only supplies USDC to approved lenders. It never borrows, never loops and never swaps your USDC into another token.

How fast can I withdraw?

If enough USDC sits idle, in the same transaction. Larger exits get a ticket at today's share price, which the bot usually funds within minutes. If a ticket is still unfunded after 48 hours, anyone can force the withdrawal from a lender.

Who can change the lenders?

Only JewelSwap's 3-of-5 multisig, and every new lender or higher cap waits 48 hours on chain before it takes effect. The bot can move USDC between approved lenders within the caps and nothing else.

Is the vault audited?

Not yet. The contracts have had an internal review. Deposits are capped at 10,000 USDC while the vault is new, so only deposit what you can afford to lose.

More ways to earn on Sui

Ember Loop

Leveraged eEARN stablecoin yield. Deposit USDC, the vault runs the loop and the loan.

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Scallop leveraged farms

2.86x farms on Scallop, boosted by JewelSwap's own veSCA and compounded every four hours.

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CETUS and SCA staking

Mint JWLCETUS or JWLSCA 1:1 and earn weekly rewards from xCETUS and veSCA.

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