SINGAPORE, Feb. 01, 2024 (GLOBE NEWSWIRE) -- 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 offers a leading-edge lending, borrowing and liquid staking DeFi (LSDeFi) infrastructure with robust security features. It currently holds the top position on Sui with a total value locked (TVL) of US$150 million and borrowed assets of around US$55 million. The protocol’s pioneering features, such as ‘Isolation Mode’ and ‘Flash Loan,’ allow users to maximize their existing assets and explore unique trading opportunities with minimal risks. NAVI’s infrastructure accommodates digital assets at different risk levels based on user-selected strategies.
The investment is a strategic opportunity to leverage the immense potential of the Sui ecosystem’s DeFi sector. Its financial support is rooted in the exceptional stability, efficiency and growth potential that NAVI has exhibited since its rollout on the Sui mainnet.
OKX Ventures Founder Dora Yue said: “We’re deeply honored to co-lead the investment in NAVI. NAVI has shown a remarkable ability to tap into the vast potential of the Sui ecosystem's DeFi field, establishing itself as a crucial framework for the rapidly rising DeFi landscape. Based on the parallel capabilities of Sui and the asset-centric programming features of the Move language, we remain optimistic about the potential for complex applications in its ecosystem, such as derivatives, NFTs, games and AI-based applications. OKX Ventures is eager to continue supporting NAVI’s mission to serve as a crucial DeFi infrastructure for the Sui ecosystem, promoting the integration and growth of Sui's DeFi solutions.”
To learn more about NAVI, click here.
For further information, please contact:
Media@okx.com
About OKX Ventures
OKX Ventures is the investment arm of leading crypto exchange and Web3 technology company OKX, with an initial capital commitment of USD 100 million. It focuses on exploring the best blockchain projects on a global scale, supporting cutting-edge blockchain technology innovation, promoting the healthy development of the global blockchain industry, and investing in long-term structural value.
Through its commitment to supporting entrepreneurs who contribute to the development of the blockchain industry, OKX Ventures helps build innovative companies and brings global resources and historical experience to blockchain projects.
Find out more about OKX Ventures here.
