SINGAPORE, Dec. 09, 2023 (GLOBE NEWSWIRE) -- OKX, a leading Web3 technology company, has issued updates for the day of December 9, 2023.

According to Planet Daily, official data shows that the total locked value (TVL) of the Sui ecological lending protocol NAVI Protocol has exceeded US$40 million.

The liquid market is the lifeblood of the prosperity of the crypto ecosystem, especially for the new ecosystem. When it comes to liquidity, the importance of DeFi is self-evident. Allow users to use a shared liquidity pool system to lend and borrow cryptocurrency assets without middlemen, through certain incentives, to lock in liquidity and bring leverage to funds within the ecosystem. As a new ecosystem, one of the challenges Sui Ecosystem faced in its early stages was the lack of sufficient liquidity. This made it difficult for its internal DApp to attract enough users and funds in the early stages of launch. In this context, the emergence of NAVI Protocol is undoubtedly a timely and powerful support, filling the liquidity gap for the Sui ecosystem.

流动性市场是加密生态繁荣的命脉，对于新生态来说更是如此。谈到流动性，DeFi 的重要性不言而喻。允许用户使用共享流动性池系统，在没有中间商的情况下借出和借入加密货币资产，通过一定的激励，从而达到锁定流动性，并为生态内资金带来杠杆的作用。Sui 生态作为一个新生态系统，在其初期面临的挑战之一就是缺乏足够的流动性。这导致了其内部的 DApp 在启动初期难以吸引足够的用户和资金。在此背景下，NAVI Protocol 的出现无疑是一种及时而有力的支持，为 Sui 生态填补了流动性的空白。

Sui's enterprise-scale approach to infrastructure technology led NAVI to build its banking protocol on the network. With features such as online banking and chip cards, banks have long embraced technology. However, Charles and Elliscope took a different approach in founding NAVI Protocol. Using their technology expertise and background, they embraced banking.

SINGAPORE, Feb. 01, 2024 — OKX Ventures, the investment arm of leading crypto exchange and Web3 technology company OKX, today announced that it has co-led an investment in NAVI, the first one-stop liquidity protocol native to the Sui blockchain. OKX Ventures’ funding will empower NAVI to scale its all-in-one lending, borrowing and liquid staking DeFi (LSDeFi) platform, expand operations and launch innovative features. NAVI also aims to broaden its reach within the Move ecosystem.

NAVI Protocol has announced the creation of the NAVI X Ecosystem Fund, committing 10M NAVX tokens to support the growth and innovation of the Sui blockchain's DeFi and Move-based ecosystem. This initiative aims to provide vital resources for projects at different stages of development, with a focus on enhancing the Sui blockchain's functionality and user base.