Latest news with #ElliscopeFang
Business Insider
4 days ago
- Business
- Business Insider
Volo Launches BTC Vaults
Volo, a leading liquid staking protocol on Sui, today announced the launch of Volo wBTC Vault, a DeFi product designed to unlock the Bitcoin liquidity within Sui's ecosystem. The vault leverages wBTC and integrates with NAVI Protocol's deep liquidity to deliver seamless, high-yield DeFi strategies with one-click accessibility on Sui. With over 1,000 BTC in liquidity already on Sui, Volo's initiative strengthens the network's position as a Bitcoin DeFi Layer. Integrating with NAVI's robust lending pools, Volo ensures users can access high-yield opportunities with minimal friction. This allows Volo to offer complex DeFi strategies, such as automated yield optimization and leveraged positions, through a one-click interface, prioritizing ease of use and accessibility. As Bitcoin-backed finance gains momentum, Volo's innovative vaults enable users to maximize the utility of wBTC. This launch marks another step in expanding Sui's role as a DeFi hub, offering users new ways to engage with Bitcoin in a high-performance, secure environment. Volo has established itself as a cornerstone of Sui's DeFi landscape, with its liquid staking token, vSUI, boasting TVL of $50 million. Audited by Ottersec, Movebit, and Hacken, Volo's platform also ensures security and reliability. 'BTCfi on Sui transforms Bitcoin from a static asset into a dynamic, programmable force, unlocking unparalleled opportunities for users,' says Ben Liu, Volo lead. Incubated by NAVI Labs, with investments from OKX Ventures, Hashed, dao5, Volo has enabled users to stake SUI while maintaining liquidity, empowering millions to participate in DeFi. The rise of BTCfi has propelled Sui forward, with over 10% of its TVL in BTC liquidity now integrated into the network. Sui's native bridge and validator-secured infrastructure position it as a leading Layer for Bitcoin, offering fast, low-cost transactions without compromising decentralization. Volo's wBTC Vaults align with this, enabling users to leverage Bitcoin's $1.6 trillion market in DeFi applications. 'NAVI's scalable infrastructure makes it the ideal home for BTCfi, enabling Volo to deliver intuitive, high-yield solutions that empower every user,' says Elliscope Fang, NAVI co-founder. Shortly, Volo plans to expand its vault offerings further to include other BTC variants, stablecoins, and altcoins that improve user capital efficiency and DeFi experience. Volo is a multi-asset liquid staking solution that helps users maximize utility and liquidity for SUI by offering vSUI. Its Volo Hub is a suite of products designed around the utility of the liquid staking DeFi platform token voloSUI, and additional products made to enhance the general user experience on SUI. Its primary focus is to allow users to stake their SUI tokens while maintaining liquidity. Through Volo's liquid staking protocol, users can stake their SUI tokens and receive liquid staking tokens (vSUI) in return. Contact
Business Insider
24-06-2025
- Business
- Business Insider
NAVI Protocol Partners with OKX to Launch xBTC Lending and Borrowing on Sui
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
