Skip to content
SAM SAM Docs

Introduction

SAM is a yield vault for Sui. You deposit SUI or USDC and receive a yield-bearing share token, samSUI or samUSDC. Behind that token, SAM spreads your deposit across several money markets (Scallop, Suilend, NAVI) and continuously moves liquidity toward the best yield. The share price only ever rises as the vault earns; you can redeem any time for principal plus accrued yield.

These docs explain, in plain terms and with the exact formulas, what SAM does with your deposit and how the numbers work: how shares are priced, what fees you pay, how each protocol’s yield is measured on-chain, how funds are allocated, and how withdrawals are served.

Mental model in one paragraph

Section titled “Mental model in one paragraph”

A vault holds a single pool of one coin. Part of that pool is idle (liquid, ready for instant withdrawals) and part is deployed across lending protocols. The vault tracks the pool’s total value as a number, total_coin_in, alongside the total number of shares in circulation. The price of one share is just:

price=total_coin_inshares\text{price} = \frac{\text{total\_coin\_in}}{\text{shares}}

Deposits mint shares at that price, withdrawals burn shares at that price, and yield raises total_coin_in without minting new shares, so every existing share becomes worth more. That is the whole engine; the rest of these pages fill in the details.

Units you will see

Section titled “Units you will see”
  • Base units. Coin amounts are whole numbers in the coin’s smallest unit. samSUI/SUI use 9 decimals (so 1 SUI = 1_000_000_000); samUSDC/USDC use 6 (so 1 USDC = 1_000_000).
  • APR (Fixed18). Yields are shown in a fixed-point format where 1e18 means 100%. So 5e16 is 5%.
  • Basis points (bps). Fees use bps, where 10_000 bps = 100% and 1 bps = 0.01%.

Start here

Section titled “Start here”