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NAVI (NAVX): Liquidity Simplified on Sui Blockchain

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2024-02-08
NAVI (NAVX): Liquidity Simplified on Sui Blockchain

What is NAVI (NAVX)?

NAVI (NAVX) is the first native decentralized liquidity protocol on Sui that makes access to essential DeFi infrastructure simple. NAVI offers users the opportunity to participate as liquidity providers or borrowers in a straightforward manner. Whether you want to earn passive income by supplying assets or seek flexible borrowing options, NAVI provides a user-friendly platform for both.

The name "NAVI" stems from the Indian language, meaning "Be Kind to People." This philosophy resonates with NAVI's commitment to fostering mass adoption of DeFi by prioritizing simplicity and security. By leveraging the Move programming language, NAVI aims to provide a user-friendly experience for both novice and experienced DeFi users.

How NAVI (NAVX) Works

NAVI provides essential liquidity-related products to Sui users as follows:

Supply Earn

To begin your journey with NAVI, you'll need an SUI-compatible wallet. Once connected, you can explore the available lending markets and choose assets to supply. By depositing assets into NAVI's liquidity pools, you start earning interest, which is subject to change based on market conditions and borrow rates.

Users have the flexibility to supply any amount they desire, with no minimum or maximum limit. However, it's essential to consider transaction costs versus expected earnings, especially for smaller deposits.

Withdrawing your assets is straightforward, but it's crucial to be mindful of how it may affect your health factor, which is a numeric representation of the safety of your deposited assets against borrowed ones.

Borrowing

NAVI's overcollateralized lending/borrowing feature allows users to supply assets as collateral and borrow other types of assets. Before borrowing, ensure you've deposited sufficient assets as collateral. The maximum loan value depends on your deposited assets and the health factor.

Repaying the loan is done in the original token of the borrowed asset, along with accrued interest. It's a simple process of entering the repayment amount and confirming the transaction.

Liquidations

In the event of a borrower's health factor falling below 1 due to insufficient collateral, liquidation occurs. NAVI implements risk parameters such as Liquidation Threshold and Liquidation Penalty/Bonus to safeguard solvency. Users can avoid liquidation by repaying the loan or depositing more assets to increase their health factor.

Notifications

NAVI collaborates with a notification service to help users stay informed about changes in their health factors. By setting up notifications through Email, Telegram, or Discord, users receive alerts regarding their health factor dynamics.

NAVX Goes Live on Bitget

NAVX is the native token of the NAVI protocol. As a utility and governance token, NAVX holders enjoy a range of advantages, including fee discounts, liquidity incentives, staking rewards, and voting rights.

Don't miss out on the opportunity to trade NAVX on Bitget, where security, simplicity, and support converge to provide you with the ultimate trading experience. NAVX is listed on Bitget on February 7 .

How to Trade NAVX on Bitget

Step 1: Go to NAVXUSDT spot trading page

Step 2: Enter the amount and the type of order, then click Buy/Sell.

For detailed instructions on how to spot trade in Bitget, please read The Uncensored Guide To Bitget Spot Trading .

NAVI offers a comprehensive and accessible solution for navigating the complex world of DeFi. Whether you're looking to earn passive income through liquidity provision or borrow assets for various purposes, NAVI provides a user-friendly platform with innovative features and robust security measures. With its focus on simplicity, security, and mass adoption, NAVI paves the way for a future where DeFi is accessible to all.

Trade NAVX on Bitget now!

Disclaimer: The opinions expressed in this article are for informational purposes only. This article does not constitute an endorsement of any of the products and services discussed or investment, financial, or trading advice. Qualified professionals should be consulted prior to making financial decisions.