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About Steamm
STEAMM is a next-generation automated market maker (AMM) protocol built on the Sui blockchain, developed by the Suilend team. It addresses the capital inefficiency problem of traditional AMMs, where most liquidity sits idle. STEAMM integrates directly with Suilend's lending markets, allowing up to 80% of idle pool liquidity to earn lending yield while still supporting instant swaps.
Its core differentiation is the modular quoter architecture, supporting three pricing curves: constant-product (CPMM), virtual constant-product (vCPMM, enabling one-sided token launches), and oracle market maker (OMM, using Pyth oracle prices with dynamic fees for stable pairs and large trades). A shared "bank" model aggregates liquidity across pools, and bTokens act as yield-bearing representations of deposited tokens.
Over the past six months (March–September 2026), STEAMM has seen modest but steady usage: on-chain data shows roughly 2,600 daily trades with about $43k in daily volume on its most active pools (as of late August 2026), and developer documentation has matured, with detailed integration guides, a stablecoin AMM (StableSwap variant with high amplifier), and gas-optimized swap scripts. However, trading volume remains relatively small compared to major Sui DEXs, and its yield-bearing model adds complexity for LPs. No major security incidents have been publicly reported in this period.
Over the past six months, Steamm (Sui's AMM platform) has seen significant developments. In late June 2026, Bluefin announced the acquisition of Suilend, the parent company of Steamm, in a deal backed by SUI Group. SUI Group tripled its lending facility to Bluefin to 6 million SUI, increasing the revenue share from 5% to 11% payable in SUI tokens. This consolidation brings Steamm under the Bluefin umbrella alongside other DeFi products like AlphaLend and vaults, creating a comprehensive suite spanning trading, lending, staking, and liquidity on Sui. The acquisition was finalized to strengthen Sui's DeFi ecosystem during a challenging period when the chain's TVL had declined to approximately $418 million from its October 2025 peak of $2.6 billion. Looking ahead, Steamm's roadmap focuses on expanding its modular quoter system supporting multiple AMM types (Constant Product, Oracle-based, Stable), enhancing liquidity reutilization through Suilend lending market integration for yield generation, and advancing its shared liquidity model where banks aggregate liquidity across pools. The protocol aims to maximize capital efficiency by enabling up to 80% of idle liquidity to earn lending yields when enabled, while maintaining yield-bearing LP tokens that earn both trading fees and lending yields.