Sui Group Holdings (SUIG), in collaboration with Ethena Labs and the Sui Foundation, launched the eSui Dollar (suiUSDe) on the Sui mainnet. This marks the introduction of the first native synthetic dollar on the network and the first high-yield, income-generating stable asset on a non-EVM chain.

To bootstrap liquidity and support the launch, Nasdaq-listed Sui Group has deployed an initial $10 million into a dedicated vault on the Ember Protocol. This move is designed to enhance trading and DeFi opportunities within the Sui ecosystem. The suiUSDe becomes the first synthetic dollar available for margin trading on DeepBook, Sui's native order book, through partners like Abyss, Cetus, and Deeptrade.

A key feature of this initiative is a mechanism to drive value back to the Sui ecosystem. Net income generated from the stablecoin, after costs, will be used to purchase the native Sui token by both the Sui Foundation and Sui Group.

The launch signals a strategic push to build out native stablecoin infrastructure on Sui, unlocking new passive and active trading strategies. A wide array of DeFi protocols, including Aftermath Finance, Bluefin, and Navi Protocol, are supporting suiUSDe from day one.
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