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

In cooperation with the Sui Foundation, NAVI Protocol, a prominent DeFi platform on the Sui network, has partnered exclusively for two months with OKX, one of the top centralized exchanges in the sector, to launch xBTC lending and borrowing.

This strategic partnership strengthens Sui’s position as a hub for Bitcoin-based DeFi (BTCFi) and expands the utility of xBTC by providing users with innovative financial prospects.

In addition to liquidity provision rewards, the partnership gives xBTC liquidity providers on NAVI access to borrow incentives for Sui and USDC. The purpose of these incentives is to increase the composability of xBTC assets so that users may take advantage of sponsored borrowing opportunities to get the most out of their BTC holdings. Deeper liquidity and improved user involvement are fostered by this approach, which increases xBTC use on the Sui network.

Through its OKX Earn program, OKX will give out SUI rewards as part of the campaign, while NAVI will give out $500,000 in NAVX rewards to campaign participants.

Furthermore, OKX is offering an additional $200,000 in SUI incentives to customers that borrow assets on NAVI and provide xBTC via OKX Earn. These incentives are meant to encourage user involvement and support the expansion of the ecosystem.

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.

NAVI co-founder Elliscope Fang stated:

“This partnership marks a significant milestone in establishing BTCFi as a cornerstone of the Sui network. 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 collaborative initiative establishes Sui as a premier BTCFi network and highlights NAVI’s dedication to improving DeFi accessibility. Through OKX Earn and NAVI’s platform, users may take part in the campaign and access deep liquidity pools and exclusive benefits.

OKX is an innovative cryptocurrency exchange that offers sophisticated financial services. Serving more than 50 million users in more than 100 countries, it is the second-largest platform by daily trading volume and provides trading in more than 350 cryptocurrencies and 500 trading pairs. In addition to Web3 services including a self-custody wallet, NFT marketplace, and DeFi integration, OKX offers spot, margin, futures, and options trading.

NAVI is the Sui network’s inaugral native liquidity protocol. It wants to become the leading liquidity protocol in the Sui DeFi ecosystem and aims to be the foundation for chains built on the Move system. As the primary lending, borrowing, and liquid-staking protocol based on Sui, it has gained the confidence of millions of users.

With tried-and-true innovations like Automatic Leveraged Vaults, Asset Isolation Mode, and Flash Loans, NAVI provides a safe, one-stop liquidity solution. On Sui, Astros, VOLO, the aggregator, Perp Dex, and LST are also being built.