Sui Network Gains Momentum with BTCFi Integration
NAVI Protocol has partnered with crypto exchange giant OKX and the Sui Foundation to launch a new lending and borrowing campaign for xBTC, a wrapped Bitcoin asset on the Sui blockchain. The two-month initiative aims to deepen liquidity and drive user adoption of Bitcoin-based decentralized finance (BTCFi) across the Sui ecosystem.
Unlocking xBTC Utility Through Incentivized Lending
This collaboration brings incentives for xBTC liquidity providers, allowing them to borrow SUI and USDC while earning NAVX token rewards. The structure is designed to increase the composability of xBTC on Sui, enabling users to leverage their Bitcoin holdings in novel ways without leaving the ecosystem.
Key features of the campaign include:
$500,000 in NAVX rewards distributed by NAVI to campaign participants.
$200,000 in additional SUI incentives provided by OKX.
OKX will facilitate the campaign through its OKX Earn program.
By aligning incentives across platforms, the initiative aims to foster broader BTCFi adoption on Sui and showcase its viability as a next-generation DeFi hub.
Campaign Timeline
June 24: xBTC borrowing incentives go live on NAVI Protocol.
June 27: USDC borrowing rewards begin.
July 7: SUI borrowing rewards launch.
Strategic Implications for BTCFi
Elliscope Fang, co-founder of NAVI, framed the partnership as a pivotal development:
“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.”
The partnership underscores NAVI’s broader mission to grow DeFi accessibility on Sui, while positioning xBTC as a bridge between Bitcoin’s liquidity and the composability of emerging smart contract networks.
About the Partners
NAVI Protocol is the first native liquidity protocol on Sui and offers lending, borrowing, and liquid-staking products. Known for features like Flash Loans and Asset Isolation Mode, NAVI aims to be a foundational layer for Move-based chains.
OKX ranks among the top global exchanges with more than 50 million users and a wide range of services, including spot, margin, and futures trading, as well as Web3 tools like a self-custody wallet and NFT marketplace.
The campaign invites users to engage with xBTC on both NAVI and OKX platforms, signaling a growing intersection between centralized and decentralized finance built on Bitcoin liquidity.
