What NAVI Protocol does

NAVI Protocol is a DeFi liquidity protocol built natively on the Sui blockchain (Move language), operating as a one-stop platform that combines lending, borrowing, and liquid staking. Its core product, NAVI Lending, enables users to supply assets to earn yield and borrow against collateral, with interest rates set algorithmically based on asset utilization; the platform supports an isolation market architecture for listing new assets with controlled debt ceilings, customizable interest rate curves, multi-oracle pricing, and flashloan capabilities. NAVI supplements its core lending protocol with two integrated sub-products: Volo, a liquid staking protocol acquired in January 2024 ($17.17M TVL) that issues liquid staking tokens for SUI, and Astros, a cross-chain DEX aggregator used for NAVX token swaps.

The protocol serves DeFi participants — primarily retail and institutional users within the Sui ecosystem — who need lending, borrowing, leveraged yield, and liquid staking infrastructure. NAVI generates revenue through the spread between lending and borrowing interest rates, flashloan transaction fees, and the NAVX governance token ecosystem, which includes a 10M NAVX Ecosystem Fund. The platform operates as a self-serve dApp (app.naviprotocol.io) with no KYC, and distributes its NAVX governance token through major centralized exchanges (OKX, Bybit, KuCoin, Gate.io, HTX, MEXC) and the OKX Wallet integration.

NAVI has raised $2 million in a January 2024 seed round co-led by OKX Ventures, dao5, and Hashed, and has grown to $197.61M TVL with 180,000+ active users, positioning it as the No.1 DeFi protocol on Sui by TVL. Security is audited by OtterSec, Movebit, Veridise, and Salus, with an active bug bounty program. The platform has published a roadmap through Q3 2025 covering ecosystem expansion, diversification, and scaling, and announced incubation of a new Premium Exchange ecosystem token (PST).

Name

NAVI Protocol

Legal name

NAVI Protocol

Website

https://naviprotocol.io

Company type

Private

Founded year

2023

Operating status

Operating

Headcount range

1–10 employees

Short description

NAVI Protocol is a DeFi liquidity protocol on the Sui blockchain offering lending, borrowing, and liquid staking to retail and institutional crypto users via NAVI Lending, Volo, and Astros, with $197.61M TVL and 180,000+ active users.

Ownership category

akta.pro rank

Product category

Decentralized Finance (DeFi) Lending Protocol

NAICS

Funds, Trusts, and Other Financial Vehicles (525), Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

DeFi Asset Management & On-Chain Index Protocols (FSADAMAK)

akta.pro secondary industry

DAO Treasury, Governance & On-Chain Finance Tools (FSADAMAL)

Keywords

• Decentralized lending
• Liquid staking
• DeFi lending protocol
• Crypto borrowing
• Liquidity provision

GTM type

B2C

Offering type

Software

Cost components

Technology or R&D, Personnel, Infrastructure, Marketing or Sales, Operations

Revenue model

1. Lending & Borrowing Interest Spread: NAVI Protocol generates revenue through the spread between lending and borrowing interest rates on its lending platform. Users deposit assets to earn interest and borrow assets at higher rates, with the protocol capturing the differential as protocol revenue.
2. Flashloan Fees: Revenue is generated from flashloan transactions executed within the protocol, where borrowers pay a fee for the ability to borrow assets within a single transaction block without collateral.
3. NAVX Token Ecosystem: NAVX is the governance token of the NAVI platform. The protocol has launched a NAVI X Ecosystem Fund committing 10M NAVX tokens to support ecosystem growth, which may generate economic activity and value accrual for token holders.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels8 records

Core offering

NAVI Protocol is a one-stop DeFi liquidity platform on the Sui blockchain that allows users to lend, borrow, and stake top assets within the Move ecosystem. It combines a money-market protocol (NAVI Lending) with leveraged yield vaults, isolated risk markets, and a flashloan module, complemented by Volo liquid staking and the Astros DEX aggregator. The platform's NAVX governance token aligns community ownership, while revenue is captured through protocol fees on lending spreads and flashloan transactions.

Product overview

NAVI Protocol is a one-stop liquidity platform on the Sui blockchain operating as a multi-product ecosystem. The core platform NAVI Lending enables borrowing and lending of top assets in the Move ecosystem. Supporting products include Volo (liquid staking protocol with $17.17M TVL) and Astros (cross-chain DEX aggregator). The protocol also includes leveraged vaults, isolation markets, and flashloan capabilities. The platform's native governance token is NAVX, and the ecosystem is backed by the NAVI X Ecosystem Fund (10M NAVX tokens). NAVI positions itself as the No.1 DeFi on Sui by TVL with $197.61M total market size.

Differentiator

Problem solved

Functional benefit

Brands

• NAVI Lending: Core lending and borrowing platform for top assets in the Move ecosystem with improved liquidation risk control and fortified security.
• Volo
• Astros

Products and services

• NAVI Lending Core money-market dApp enabling permissionless lending and borrowing of top assets in the Move ecosystem, with position health monitoring, rewards tracking, capital efficiency optimization, Automatic Leverage Vaults, Isolation Markets, and a Flashloan module. Intended for DeFi users and Sui ecosystem participants.
• Volo Liquid Staking Liquid staking protocol on Sui that lets users stake SUI and receive liquid staking tokens usable across DeFi, with $17.17M TVL, 1,566 daily interactions, and 38% average utilization. Intended for SUI holders seeking staking rewards without losing liquidity.
• Astros DEX Aggregator Cross-chain DEX aggregator integrated with the NAVI ecosystem that enables token swaps (including NAVX/SUI and NAVX/USDT) by routing through decentralized liquidity sources. Intended for DeFi traders seeking best-price swap execution on Sui.
• NAVI SDK TypeScript developer toolkit that provides tools for interacting with Sui blockchain networks, handling transactions, accounts, and smart contracts in a streamlined manner. Intended for developers building on top of NAVI Protocol and the Sui ecosystem, with companion flashloan module documentation.

Quantifiable outcome

• No. 1 DeFi protocol by TVL on Sui blockchain with $197.61M TVL
• +3 more outcomes

Segments1 record

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature9 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Volo (Liquid Staking Protocol)coreStrategic or Co-development Partner · 1 January 2024NAVI Protocol acquired Volo, a Liquid Staking protocol on Sui, to expand its LSDeFi offering. Volo is now integrated into the NAVI ecosystem as a core product (Volo total value locked of $17.17M), providing liquid staking capabilities.
• OKX WalletcoreTechnology or Integration · 9 December 2023OKX Wallet was integrated with NAVI Protocol in December 2023, offering extra yield for a limited time. This integration enables OKX Wallet users to access NAVI's DeFi services directly from the wallet interface.
• Mysten LabscoreStrategic or Co-development PartnerMysten Labs is the developer team behind the Sui blockchain. NAVI Protocol, as the No. 1 DeFi on Sui, works closely with Mysten Labs as a flagship Sui ecosystem project. Listed as a partner and backer in the Team & Backers section of the NAVI website.
• BybitcoreChannel Partner/ Reseller/ DistributorBybit listed NAVX token and hosted an exclusive NAVI x Bybit 2.5M NAVX Launchpool starting October 7, 2024. This partnership significantly expanded NAVX's reach to Bybit's large user base and drove token distribution through the launchpool mechanism.
• DeepBookcoreTechnology or IntegrationDeepBook is Sui's native AMM/Central Limit Order Book. NAVI integrates with DeepBook for smooth liquidation and AMM integrations, leveraging its infrastructure for the protocol's liquidation mechanisms.
• Gate.iominorChannel Partner/ Reseller/ DistributorGate.io is listed as an exchange partner where NAVX token is traded, providing a distribution channel for NAVX token to Gate.io's user base.

Scale indicators8 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• Aave: The dominant cross-chain DeFi lending protocol. Aave is comparable to NAVI as the category-defining reference architecture; NAVI explicitly positions its feature set as 'innovating beyond Aave.' Aave operates across many chains while NAVI is Sui-native.
• Compound: Pioneer DeFi lending protocol with algorithmic interest rates and overcollateralized borrowing. Direct functional analogue to NAVI's core lending product, though Compound is primarily Ethereum-focused and broader in asset coverage.
• Lido: Largest liquid staking protocol globally. Comparable to NAVI's Volo liquid staking product in mechanism and value proposition, though Lido operates across many chains at much greater scale.

Direct peers

• Morpho: Optimized lending layer built on top of Aave/Compound-style pools, offering peer-to-peer matching and curated vaults. Closely comparable to NAVI's emphasis on capital-efficient, structured lending strategies and curated risk markets.
• Benqi: Leading lending and liquid staking protocol on Avalanche with an 'all-in-one' liquidity positioning analogous to NAVI on Sui. Highly comparable as a chain-leading DeFi hub combining lending and liquid staking with similar GTM.
• Scallop: Sui-native DeFi protocol offering lending, borrowing, and other financial services. Direct in-ecosystem competitor to NAVI on Sui, competing for the same user base and liquidity pool.
• Marinade Finance: Liquid staking protocol on Solana (and later multichain). Directly comparable to NAVI's Volo product, both enabling users to stake native tokens while receiving liquid staking derivatives usable across DeFi.
• Solend: Leading lending protocol on Solana offering overcollateralized borrowing and liquidity pools. Functionally analogous to NAVI's lending product on a competing non-EVM L1, with similar target market of DeFi users seeking yield and leverage.
• Echelon Market: Move-based lending protocol initially built on Aptos and expanding to Sui. Direct competitor to NAVI in the Move-language lending category, targeting the same developer and user base of Move-ecosystem DeFi.

Regional players

• Cetus Protocol: Sui-native concentrated-liquidity DEX and integrated DeFi platform. Comparable as a Sui-ecosystem peer and NAVI-listed partner; both compete for the same Sui DeFi user base, though Cetus is AMM-focused while NAVI is lending-focused.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/navi_protocol
• GitHubgithub.com/naviprotocol

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries1 record

Funding overview

Funding rounds1 record

Investors17 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about NAVI Protocol