What Is AlphaFi? The Sui Yield Aggregator, Its Vaults and Fees

A vault is a smart contract that pools user deposits and runs one strategy. When you deposit, you receive receipt tokens that track your share of the vault ⁴. At each compounding cycle, the vault claims the rewards its position has earned, swaps them into the vault's assets, and adds them back to the position, so your share grows without manual claiming (see yield farming).

AlphaFi documents four vault categories ³:

• Liquidity (CLMM) vaults. Provide liquidity in a set price range on concentrated-liquidity DEXs — Cetus, Bluefin and Momentum. When the price moves outside the range by a preset trigger, the vault resets the position around the new price. This earns trading fees and incentives but carries impermanent loss, and each rebalance can lock that loss in ³⁶.
• Lending vaults. Supply a single asset to a lending protocol and auto-compound the interest and rewards. Principal can be withdrawn at any time ³.
• Stablecoin vaults. Either stable-to-stable liquidity, such as USDC-USDT on Cetus, or single-stablecoin lending. AlphaFi describes these as its lowest-risk strategies, though they remain exposed to stablecoin depegs ³⁶.
• ALPHA vault. Stake ALPHA to receive a share of protocol fees, paid in SUI weekly ³.

Deposits can be "zapped" in from a single token. AlphaFi routes the swap through the Cetus aggregator, which charges a small routing fee; you also pay Sui gas and any slippage ⁴.

As of October 2026, AlphaFi's strategy docs list ⁴:

Illustrative example (from AlphaFi's docs): if a vault position earns $80 of gross yield, AlphaFi takes $16 and compounds the remaining $64 ⁴. Half of the fee buys ALPHA for locked-vault stakers; the other half buys ALPHA to add to the ALPHA-SUI pool and a protocol reserve ⁴.

The 20% fee is applied to yield before you see it, so the APY displayed in the app is what matters for comparison — and that APY changes with pool activity and incentives.

AlphaFi Lend is a separate, non-custodial money market on Sui. You can supply assets to earn interest or borrow against collateral; positions are represented as NFTs ¹⁰. Loans are over-collateralized, interest rates adjust with utilization, and positions that fall below the required collateral level are liquidated automatically. AlphaFi says it charges no additional borrowing fee beyond interest ¹⁰.

stSUI is AlphaFi's liquid staking token for SUI. You stake SUI, receive stSUI, and staking rewards accrue to the token. AlphaFi takes a 6% fee on staking yield and charges 0.01% for instant redemption back to SUI ⁸. The stSUI contracts were audited by MoveBit in December 2024 ⁹.

ALPHA is AlphaFi's token on Sui, with a 10 million maximum supply. The docs allocate 60% to the community through liquidity-mining emissions, 25% to the team (locked 300 days, then vesting linearly), 10% to development and marketing and 5% to liquidity ⁷. Holders can lock ALPHA to receive part of the protocol's fees ³⁴. AlphaFi's docs describe the lock differently on two pages — 35 days on one, 100 days with a 50% early-exit penalty on another ³⁴ — so check the terms shown in the app before locking.

AlphaFi says all its vault and strategy contracts are audited by MoveBit, runs a bug bounty, and uses zeroShadow for monitoring ⁵⁶. It caps exposure at $250,000 per vault or market as a "bounded blast radius" ⁶. Vaults can be paused during an active exploit; deposits and harvests stop, but withdrawals stay open ⁶. Only the stSUI audit report is linked publicly ⁹, and an audit is a point-in-time review, not insurance.

The main risks, per AlphaFi's own risk page ⁶:

• Impermanent loss in liquidity vaults, made larger by narrow ranges.
• Smart-contract risk in AlphaFi's contracts and in every protocol a vault uses. Cetus, one of those DEXs, was exploited for about $223 million in May 2025 ¹¹.
• Liquidation risk in AlphaFi Lend.
• Depeg and oracle risk for stablecoin, liquid-staking and lending strategies.
• Network risk on Sui, such as congestion.

No AlphaFi statement on deposit insurance was found.