NAVI Protocol is the largest liquidity protocol on the Sui blockchain. NAVI Protocol has officially announced the acquisition of the liquidity staking service provider Volo, marking the first combined lending and liquidity staking service within the Sui ecosystem.
Through the acquisition of Volo, NAVI Protocol has strengthened its position on the Sui network, meeting the growing demand for diversified DeFi services. This strategic move reinforces NAVI Protocol's position as a one-stop liquidity protocol on Sui, with the merged team focusing on developing an integrated solution suite to better meet customer needs and improve operational efficiency.
By the end of 2023, the market size of liquidity staking is approximately $30 billion, making it the largest category within the DeFi industry. Therefore, this sub-market has become a pillar of the Sui ecosystem. By staking SUI tokens, users can earn profits while maintaining liquidity.
In 2024, one billion SUI tokens will be unlocked, and NAVI's core value proposition will solidify Volo Sui as the preferred hub for these tokens. NAVI will provide a capital-efficient central market for lending and liquidity staking yield strategies, while continuing to emphasize security, accessibility, and reliability.
"By combining lending and staking, NAVI enables users and stakeholders to access a larger market and enjoy synergies across multiple vertical industries. NAVI will play a role similar to Benqi on Avalanche - the largest unified money market and liquidity staking protocol. NAVI has created a unified and trustworthy brand, providing 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 complete merger transition is expected to be completed within one month.
About NAVI Protocol
Official Website: https://twitter.com/navi_protocol
NAVI Protocol is the largest liquidity protocol in the Sui ecosystem, with a TVL exceeding $100 million and a user base of 960,000. NAVI offers over-collateralized lending, dynamic interest rates, flash loans, and liquidity staking services.
The platform has been established as a secure and capital-efficient platform to meet the broad needs of the Sui ecosystem's DeFi. By leveraging Sui Move, NAVI Protocol provides decentralized, transparent, and easily accessible DeFi services. NAVI Protocol has undergone comprehensive audits 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 ecosystem growth through yield strategies. Volo emphasizes decentralization, enhanced liquidity, and user-friendliness, helping users within the Sui network maximize their earnings while maintaining access to their staked assets.
Volo was a top performer at the LSD hackathon hosted by the Sui Foundation. DefiLlama data shows that its TVL has reached $7.45 million. Volo has been audited by Ottersec, Movebit, and Hacken.
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