NAVI Protocol Partners with OKX to Launch xBTC Lending and Borrowing on Sui
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.
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