On Sui, another lending protocol I am familiar with is NAVI.
Its trading volume had previously been the highest on the Sui chain in Alpha, although it was recently surpassed by $BLUE in the last two days.
However, these two are not in the same league, so let me share my expectations about it!
➤ From the perspective of trading volume:
If trading volume is the key path for Alpha tokens to climb the ladder, then $NAVX is undoubtedly worth paying attention to.
This is not unfounded; trading volume often reflects user activity, and these users and trading volume are important resources that empower Binance and are needed by Binance.
Of course, we know that Alpha's trading volume is driven by a points system, but the Sui chain does not have the double trading volume bonus like BNB Chain. Therefore, there must be a reason behind NAVX achieving such trading volume.
From the perspective of users trying to maximize points with "minimum wear and tear," this is likely due to NAVX's low trading costs.
Many friends may have mentioned this, but the actual low costs often require certain trading timing.
According to the liquidity pool data from Sui chain DEX Cetus: NAVX offers SUI-NAVX and USDC-NAVX pools with a 0.01% fee rate.
Even more striking is that NAVX also provides a USDC-NAVX pool with a 0.001% fee rate on Bluefin, which dashed my hopes of making money as an LP.
These are the fundamental reasons for the low trading costs.
However, these pools only generate a little over a thousand dollars in income over 24 hours, so it is clear that NAVX's goal is not just this meager profit.
NAVX's true intention should be to leverage Alpha's momentum, enhance its visibility through low wear and tear, and enrich its ecological layout.
➤ From the perspective of ecology:
NAVX also includes the liquidity staking protocol Volo on Sui and the under-development Perp DEX aggregation trading platform Astros.
It is evident that its ambitions are not small!
From my observation, liquidity staking and Perp DEX are gradually forming the infrastructure of public chain DeFi alongside DEX, stablecoins, and lending protocols.
In summary, NAVX is indeed worth keeping an eye on. Will it be able to launch contract trading or even spot trading in the future? Let's wait and see!
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Circulating Market Cap: $38,611,655
Fully Diluted Market Cap: $67,031,000
DeFi Enthusiasts: BitHappy
