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STEAMM Review 2026: Sui AMM Suilend Is Winding Down

STEAMM is an automated market maker on Sui with an embedded money market, built by the team behind Suilend. Reports say Suilend is winding it down and closing its homepage on 5 October, so it is no longer a product to start using.

By the DappsAtlas editorial team · Updated Nov 5, 2026

DappsAtlas score

4.5/10

Weak

Visit STEAMM

Our verdict on STEAMM

4.5/10

STEAMM was an interesting Sui AMM that tied its pools to a money market and supported several pricing models. The main caveat is that Suilend is phasing it out and closing its homepage on 5 October, and TVL was already small with no audits listed. It is relevant mainly for existing holders who need to withdraw. New users looking for a Sui DEX should choose an actively supported venue instead.

Score breakdown

How STEAMM scores

Security: 4.0/10
Ease of use: n/a
Fees: n/a
Features: 6.0/10

Scores run from 0 to 10 and are based only on facts we could verify. Where information was missing we mark the score n/a rather than guess.

What is STEAMM?

STEAMM is an automated market maker on the Sui blockchain with a money market built into it. DefiLlama lists it as a DEX, tracked since February 2025, with about $305,600 in total value locked. The team behind Suilend, the Sui lending platform, built it.

Its design lets different quotation systems plug in. These include a constant-product quoter, quoters for stablecoin trading and dynamic fee quoters. The idea is that idle pool funds can be lent out, which makes liquidity work harder.

The product is now being phased out. News reports dated 2 October 2026 say Suilend will stop offering STEAMM and close its homepage on 5 October. The reports say Suilend is focusing on its lending product and upcoming releases. Existing positions remain accessible through Suilend, and users can withdraw at any time.

How STEAMM works

An automated market maker lets people swap tokens against a pool of funds instead of matching buyers and sellers. Liquidity providers deposit tokens into a pool and earn a share of the trading fees. A formula, called a quoter here, sets the price based on the pool's balances.

STEAMM adds a money market layer. Funds in a pool that are not needed for trades can be lent out through the integrated money market, which is meant to earn extra yield and use capital more efficiently. The quoter logic is modular, so a constant-product quoter, a stablecoin quoter or a dynamic-fee quoter can be used.

The tradeoff is complexity. Pool funds are exposed to the AMM contracts and to the lending side, so losses can come from impermanent loss, borrower or liquidity problems, or a smart-contract bug.

6 features

Key features

Embedded money market

Pools sit on top of a money market. The aim is to make better use of liquidity that would otherwise be idle.

Composable quoter design

The design lets different pricing modules plug into the same system instead of using one fixed formula.

Constant-product quoter

A constant-product quoter, the same model used by many standard AMMs, is one of the supported options.

Stablecoin-focused quoters

Quoters specialised for stablecoin trading are supported, aimed at pairs that should trade close to parity.

Dynamic fee quoters

Dynamic fee quoters are supported, so trading fees can change with market conditions rather than staying fixed.

Suilend ecosystem link

It is part of the Suilend family of Sui DeFi products, which also covers lending and liquid staking.

Pros and cons

What we like

It combined an AMM with a money market, which was designed to improve capital efficiency.
The modular quoter design supports constant-product, stablecoin and dynamic-fee pricing.
It came from the team behind Suilend, an established Sui lending platform.
Reports say existing positions stay accessible and can be withdrawn at any time.
It has no token to buy, so there is no separate token price risk.

Watch out for

Suilend is phasing the product out, and its homepage is due to close on 5 October, so it is not a good place to start new positions.
TVL is only about $305,600, which means thin liquidity and weak depth for larger trades.
No audits are listed for the protocol.
It has no token of its own, and the project does not publish fee details or a team page.
Combining an AMM with a money market adds layers of smart-contract risk beyond those of a plain DEX.

STEAMM fees

STEAMM does not publish a fee schedule in the material we reviewed. Its design supports dynamic fee quoters, so trading fees may vary by pool and market conditions.

Users would see the actual fee for a swap or a liquidity position in the interface before confirming. Normal Sui network gas costs apply to any transaction. Because the product is being wound down, check how any remaining positions are handled before acting.

Is STEAMM safe?

DefiLlama lists no audits for STEAMM, and the project does not publish audit reports in the material we reviewed. As a smart-contract protocol with lending integration, it carries the usual risks of bugs, oracle issues and liquidity shortfalls. Users keep custody of their funds in their own wallets, but funds in pools are held by contracts.

The main current risk is operational. With the product being phased out, support and updates may stop, so anyone holding a position should withdraw rather than leave funds idle. The project does not publish regulatory or licensing information. Nothing in the material we reviewed mentions a hack or exploit.

6 steps

How to get started with STEAMM

1
Check whether you hold an existing STEAMM position. Reports say these remain accessible through Suilend.
2
Connect a Sui-compatible wallet to the Suilend interface to view your positions.
3
Review any pool balances and accrued earnings before taking action.
4
Withdraw funds, which reports say users can do at any time, and confirm the transaction in your wallet.
5
Do not add new liquidity to a product that is being phased out.
6
Move funds to another Sui venue only after checking its audits and liquidity.

Open STEAMM

Who STEAMM is for

This review is mainly for people who still hold a STEAMM position and want to know what is happening, and for readers studying AMM designs that integrate lending. It is not suited to anyone looking to deploy new liquidity or trade on an actively maintained Sui DEX.

STEAMM FAQs

What is STEAMM?

STEAMM is an automated market maker on Sui that connects its liquidity pools to a money market, so idle funds can be lent out. It was built by the team behind the Suilend lending platform.

Is STEAMM shutting down?

News reports from early October 2026 say Suilend is phasing the product out and will close its homepage on 5 October. Suilend says it is focusing on its lending product and upcoming releases.

Can I still withdraw my funds from STEAMM?

The reports say existing positions can still be reached through Suilend and that users can withdraw at any time. Anyone with funds in it should check the Suilend interface and withdraw or move them.

Does STEAMM have a token?

No. DefiLlama lists no token for STEAMM, so there is no STEAMM ticker to buy or hold.

Has STEAMM been audited?

No audits are listed for STEAMM in the data we reviewed. The project does not publish an audit list on its homepage, so users cannot verify this from the project's own pages.

Which blockchain does STEAMM run on?

STEAMM runs on Sui only. It was listed as a DEX from February 2025.

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