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NAVI Protocol acquires Volo to offer the first combined DeFi and liquid staking solution on Sui

NAVI Protocol, the leading liquidity protocol on the Sui blockchain, has announced the acquisition of Volo, a liquid staking platform that enables users to earn yields on their staked SUI tokens. This is the first time a protocol in the Sui ecosystem will offer a combined solution for borrowing, lending, and liquid staking, creating a one-stop shop for liquidity on Sui.

The acquisition of Volo will enhance NAVI Protocol’s value proposition as the go-to destination for liquidity on Sui, as it will address the rapidly growing demand for a diverse range of DeFi services. 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.

Liquid staking is a fast-growing segment of the DeFi industry, as it allows users to stake their tokens on a blockchain network and receive liquid tokens that can be used in other DeFi applications. By the end of 2023, liquid staking represented a market size of ~$30 billion, the largest liquidity category in the DeFi industry, according to Messari.

Liquid staking has also become a pillar of the Sui ecosystem, as it provides users with the ability to earn yields on their staked SUI tokens while maintaining liquidity. SUI is the native token of the Sui blockchain, a smart contract platform that leverages Sui Move, a new programming language that enables secure and scalable decentralized applications.

NAVI Protocol’s core value proposition will solidify Volo’s position 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,” said a core contributor of NAVI Protocol.

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