New York, United States, June 24th, 2025,
Chainwire
NAVI Protocol, a leading DeFi
platform on the Sui network, has entered an exclusive
two-month partnership with OKX, one of the
leading centralized exchanges in the industry, in collaboration
with the Sui Foundation, to introduce xBTC lending and
borrowing.
This strategic alliance enhances the utility of xBTC, bringing
innovative financial opportunities to users and reinforcing Sui’s
position as a hub for Bitcoin-based DeFi (BTCFi).
The collaboration enables xBTC liquidity providers on NAVI to
access borrow incentives for Sui and USDC, alongside liquidity
provision rewards. These incentives are designed to boost xBTC
asset composability, allowing users to maximize the utility of
their BTC holdings through sponsored borrowing opportunities. This
initiative drives higher utilization of xBTC on the Sui network,
fostering deeper liquidity and enhanced user engagement.
As part of the campaign, OKX will distribute SUI rewards through
its OKX Earn program, while NAVI will allocate $500,000 in NAVX
rewards to participants throughout the initiative.
In addition, OKX is providing another $200,000 in SUI incentives
for users who supply xBTC via OKX Earn and borrow assets on
NAVI.
These rewards aim to incentivize user participation and
strengthen the ecosystem’s growth.
Campaign Timeline:
- June 24, 2025: Incentivized borrowing pools for xBTC open on
NAVI Protocol.
- June 27, 2025: Incentivized borrows for USDC liquidity
providers kick in.
- July 7, 2025: Incentivized borrows for SUI liquidity providers
kick in.
“This partnership marks a significant milestone in
establishing BTCFi as a cornerstone of the Sui network,” said NAVI
co-founder Elliscope Fang. “By collaborating with OKX and the Sui
Foundation, we’re empowering users with seamless access to xBTC
lending and borrowing, unlocking new possibilities for liquidity
and financial innovation.”
This joint effort underscores NAVI’s commitment to enhancing
DeFi accessibility and positions Sui as a leading network for
BTCFi. Users can participate in the campaign through NAVI’s
platform and OKX Earn, tapping into deep liquidity pools and
exclusive rewards.
About OKX
OKX is an innovative cryptocurrency exchange with advanced
financial services. As the second-largest platform by daily trading
volume, it serves over 50 million users in 100+ countries, offering
trading in 350+ cryptocurrencies and 500+ trading pairs. OKX
provides spot, margin, futures, and options trading, alongside Web3
services like a self-custody wallet, NFT marketplace, and DeFi
integration.
About NAVI Protocol
NAVI is the inaugural liquidity protocol native to the Sui
network. It seeks to establish the cornerstone for chains based on
the Move system and aspires to be the premier liquidity protocol in
the Sui DeFi ecosystem. It has earned the trust of millions of
users as the main lending, borrowing, and liquid-staking protocol
built on Sui.
NAVI delivers a secure, one-stop liquidity solution through
time-tested innovations such as Automatic Leveraged Vaults, Asset
Isolation Mode, and Flash Loans.
Also building Astros and VOLO, the aggregator, Perp Dex and LST
on Sui.
Contact
Marketing Lead
Ivan
Djordjevic
ivan@naviprotocol.io