> For the complete documentation index, see [llms.txt](https://docs.jewelswap.io/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.jewelswap.io/sui/usdsui-vault.md).

# USDsui Vault (jnUSDSUI)

The JewelSwap USDsui Vault on Sui supplies your USDsui to NAVI at 1x, claims NAVI's vSUI rewards and swaps them back into USDsui. Deposit USDsui, receive jnUSDSUI.

{% hint style="warning" %}
**Beta.** Deposits are capped at **9,990 USDsui** in total. The contract has had internal reviews, not an external audit. NAVI, USDsui and smart-contract risk apply: only deposit what you can afford to lose.
{% endhint %}

App: [sui.jewelswap.io/vaults/usdsui](https://sui.jewelswap.io/vaults/usdsui)

## How it works

You deposit USDsui and receive **jnUSDSUI**, a share of the vault. A JewelSwap keeper supplies the vault's USDsui to NAVI's main market. NAVI pays two things on it: a base supply rate, and a reward in vSUI. Every 6 hours the keeper claims the vSUI and swaps it into USDsui inside the vault. The share price rises with both, so your jnUSDSUI is worth more USDsui over time and you never claim anything yourself.

```
You ──USDsui──► USDsui Vault (mints jnUSDSUI) ──supply──► NAVI USDsui pool
                      ▲                                        │
                      └──── USDsui ◄── swap ◄── vSUI reward ◄──┘
```

The vault keeps about **2%** idle so small exits are paid at once. Larger exits become a ticket that the keeper funds on its next run, usually within 10 minutes.

The vault never borrows. It is the same contract as the USDSUI tier of [NAVI Loop](/sui/navi-loop.md), run at 1x: NAVI pays its reward on the net deposit (supplied minus borrowed), so borrowing USDsui to re-supply it only adds interest cost.

## Yield

Net APY ≈ NAVI USDsui supply rate + NAVI vSUI reward − fees

The app shows each part live from NAVI's own rates API. On 12 November 2026 NAVI paid 11.60% plus a 2.64% vSUI reward, which comes to about 12.3% after the vault's fees for a 12-month hold. Both parts move: the base rate follows how much of the pool is borrowed, and NAVI can change or end the reward at any time.

## Fees

| Fee         | Rate                                   | Where it goes                           |
| ----------- | -------------------------------------- | --------------------------------------- |
| Entry       | 0.60%                                  | Stays in the vault for existing holders |
| Exit        | 0.10%                                  | Stays in the vault for existing holders |
| Performance | 10% of gains above the high-water mark | JewelSwap treasury                      |

The contract caps entry and exit fees at 1% and the performance fee at 20%, whatever the admin signs.

## Risks

* **Exit liquidity.** NAVI's USDsui pool is heavily borrowed (over 90% on 12 November 2026). A large withdrawal needs free USDsui in the pool, so its ticket can wait until borrowers repay or new suppliers arrive.
* **Rate and reward risk.** The APY is an estimate from today's rates, not a promise.
* **NAVI risk.** A bug, oracle failure, pause or governance change at NAVI affects the vault directly.
* **USDsui risk.** A USDsui depeg hits the vault's value one-for-one.
* **Keeper risk.** If the keeper is down, deposits sit idle and queued exits wait. Every keeper step is checked on-chain and cannot move vault funds anywhere else.
* **Smart-contract risk.** No external audit yet.

## Contracts

| Object           | ID                                                                                       |
| ---------------- | ---------------------------------------------------------------------------------------- |
| Vault            | `0x11307d2cdaac1b5f5ec615deb88987fec884bd2be80dac32b2f9160ad4dc8559`                     |
| Package (latest) | `0xd92726173a68b45073e59592bec7000b12aa114e733c597a8850e4236b072298`                     |
| Share type       | `0x33152abfb7925562297021fc1fadb08a9bdcf7376af0fec65769fb0a61d18f65::jnusdsui::JNUSDSUI` |