NAVI Protocol is the number one liquidity protocol on the Sui blockchain. NAVI Protocol officially announced the acquisition of liquidity staking service provider Volo. This important move marks the first service in the Sui ecosystem that combines lending and liquidity staking.
With the acquisition of Volo, NAVI Protocol strengthens its position on the Sui network and meets the growing demand for diverse DeFi services. This strategic move strengthens NAVI Protocol’s position as a one-stop liquidity protocol on Sui, and the combined team will focus on developing an integrated suite of solutions to better meet customer needs and improve operational efficiency.
At the end of 2023, the market size of liquidity staking is approximately $30 billion, making it the largest liquidity category in the DeFi industry. As a result, this segment has become the backbone of the Sui ecosystem. By staking SUI tokens, users can earn while maintaining liquidity.
One billion SUI tokens will be unlocked in 2024, and NAVI’s core value proposition will solidify voloSui as the center of choice for these tokens. NAVI will provide a capital-efficient central marketplace for lending and liquidity staking yield strategies with a continued emphasis on security, accessibility, and reliability.
“Combining lending and staking allows NAVI users and stakeholders to access a larger market and enjoy multiple cross-vertical synergies. NAVI will be similar to Benqi’s role on Avalanche – the largest joint currency market and liquidity Staking Protocol. NAVI has created a unified and trustworthy brand that provides users with a consistent and reliable DeFi experience. NAVI welcomes the Volo team to join the NAVI team and continue to innovate on the LSTDeFi structure.
——Core contributor of NAVI protocol
The full transition of the merger is expected to be completed within a month.
About NAVI Protocol
Official website:https://twitter.com/navi_protocol
NAVI Protocol is the number one liquidity protocol in the Sui ecosystem, with over $100 million in TVL and 960,000 users. NAVI provides over-collateralized lending, dynamic interest rates, flash loans, and liquid collateral services.
The platform has been established as a secure and capital-efficient platform that meets the broad needs of the Sui ecosystem DeFi. By leveraging Sui Move, NAVI Protocol provides decentralized, transparent, and easily accessible DeFi services. The NAVI protocol has been fully audited by OtterSec and Movebit.
About Volo
Official website:https://twitter.com/volo_sui
Volo is a liquidity staking platform dedicated to providing fully decentralized LSDeFi services for SUI and supporting the growth of the ecosystem through yield strategies. Volo emphasizes decentralization, enhanced liquidity, and ease of use, helping users within the Sui network maximize their returns while maintaining access to their staked assets.
Volo placed first at the Sui Foundation’s LSD Hackathon. DefiLlama data shows its TVL reaches $7.45 million. Volo has been audited by Ottersec, Movebit and Hacken.
