Woofun AI reports that DeFi development firm Bluewater Labs has acquired the Sui ecosystem lending protocol Suilend, along with its associated products SpringSui and the AMM platform STEAMM. Bluefin co-founder Zabi will assume the role of CEO for Suilend following the transaction.

The protocol will maintain independent operations, preserving its brand identity, product roadmap, and underlying infrastructure. During the transition period, a security-first approach is implemented; users are not required to take any action, and all existing functionalities including deposits, lending, staking, and trading remain fully operational.