NAVI Protocol Acquires Liquid Staking Protocol Volo
| TL;DR: Sui’s top TVL DeFi project NAVI Protocol acquires liquid staking platform Volo, making history in the Sui Ecosystem with the first combined borrowing, lending, and liquid staking solution.
NAVI Protocol, the #1 liquidity protocol on the Sui blockchain, is pleased to announce the acquisition of Volo, a premier liquid staking service provider. This landmark move marks the first time a protocol in the Sui ecosystem will offer combined borrowing, lending, and liquid staking services.
By acquiring Volo, NAVI Protocol strengthens its position as the go-to destination for liquidity on Sui, addressing the rapidly growing demand for a diverse range of DeFi services. This strategic move reinforces NAVI Protocol’s commitment to being the one-stop liquidity protocol on Sui. The combined teams will focus on developing an all-in-one suite of solutions to better serve the evolving needs of clients and drive operational efficiency.
By the end of 2023, liquid staking represented a market size of ~30 billion dollars, the largest liquidity category in the DeFi industry. Consequently, this DeFi niche has become a pillar of the Sui ecosystem, providing users with the ability to earn yields on their staked SUI tokens while maintaining liquidity.
NAVI’s core value proposal will solidify voloSui as the go-to hub for the next billion SUI tokens unlocking throughout 2024. It will provide a capital-efficient central marketplace for lending, borrowing, and liquid staking yield strategies, with continuing emphasis on security, accessibility, and reliability.
“Combining lending and staking opens NAVI users and stakeholders to a bigger market and a variety of cross-vertical synergies. Similar to Benqi’s role as the largest combined money market and liquid staking protocol on Avalanche, NAVI creates a unified and trusted brand that offers users consistent and reliable DeFi experiences. NAVI is proud to welcome the Volo team joining the NAVI fleet and continue to innovate on the LSTDeFi structure.”
Core contributor of NAVI Protocol
The full transition is expected to be completed within a month.
Get NAVI Protocol’s stories in your inbox
Join Medium for free to get updates from this writer.
| About NAVI Protocol
https://twitter.com/navi_protocol
NAVI Protocol is the no.1 Liquidity protocol in the Sui ecosystem with over $100 million TVL and 960k Users. NAVI offers overcollateralized lending/borrowing with dynamic interest rates, flash loans, and liquid staking services.
The platform established itself as a secure, and capital-efficient platform, catering to the broad spectrum of Sui DeFi needs. By leveraging Sui Move, NAVI Protocol provides decentralized, transparent, and accessible DeFi service. NAVI Protocol is fully audited by OtterSec and Movebit.
| About Volo
Volo is a liquid staking platform dedicated to offering a fully decentralized LSDeFi for SUI and supporting the ecosystem’s growth with advanced yield strategies. With an emphasis on decentralization, enhanced liquidity, and ease of use, Volo helps users within the Sui Network to maximize their earnings while retaining access to their staked assets.
Volo ranked top at the Sui Foundation’s Liquid Staking Hackathon and has 7.45m TVL according to DefiLlama.Volo is audited by Ottersec, Movebit, and Hacken.
The One-Stop Liquidity Protocol on Sui 💧
