Sui Blockchain Gains Momentum, NAVI Protocol Expands Ecosystem Liquidity

The Sui blockchain is gaining momentum in decentralized finance (DeFi) and real-world Web3 applications, with its total value locked (TVL) in DeFi rising to $2.093 billion.

The Sui blockchain is rapidly gaining momentum in both decentralised finance (DeFi) and real-world Web3 applications, with its total value locked (TVL) in DeFi reaching $2.093 billion.

This marks a 2.12% increase in the past 24 hours, as data from DefiLlama highlights accelerated user activity across lending platforms and Web3 integrations.

As competition between Layer-1 chains intensifies, Sui’s performance showcases its emerging strength as a Solana alternative, backed by a surge in liquidity, token listings, and enterprise adoption.

Among the network’s standout DeFi protocols is NAVI Protocol, the largest lending and borrowing platform on Sui.

Its native token, NAVX, has recently been listed on Binance Alpha following an earlier debut on OKX.

These listings are set to improve NAVX liquidity, making it easier for users to engage with staking and borrowing features on the Sui chain.

Furthermore, Binance will also be providing support for Sui ecosystem asset airdrops to traders on the exchange.

With Binance known for its low-slippage trading environment and integration of Alpha Points farming, it is likely to attract significant trading volume to NAVX.

This will maximize opportunities for traders to earn valuable airdrop tokens from the Sui ecosystem through Binance’s Points programs.

NAVI token’s presence on top exchanges positions Sui as a competitive Layer-1 network like Solana, Avalanche, and Near, ultimately driving greater growth across DeFi markets.

Mojito Loyalty integrates on-chain rewards for brands

In other developments, Mojito, a Web3 infrastructure provider known for powering NFT platforms for brands like Mercedes-Benz and Sotheby’s, has launched Mojito Loyalty.

The platform is a gamified, blockchain-based rewards system powered entirely by the Sui blockchain.

It enables brands to effortlessly embed missions, on-chain rewards, and user engagement tools directly into their existing Web2 interfaces.

This eliminates the need for brands to create separate wallets or third-party dashboards for loyalty programs, ensuring a seamless integration with their primary customer touchpoints.

Mojito Loyalty has already secured several partnerships, including one with Cur8, a community-driven platform.

Within weeks of launch, the partnership reported over 1,400 user missions completed on the Cur8 platform.

This rapid engagement showcases the potential of Mojito Loyalty to drive rapid user interaction and participation.

With the global loyalty market poised to reach $155 billion by 2029, Mojito Loyalty provides a fully Web3-native, white-label solution.

It stands as a decentralised alternative to traditional CRM systems, offering brands a new avenue to engage customers in the evolving digital landscape.

Mojito’s integration with Sui’s scalable infrastructure guarantees efficient execution of large-scale loyalty programs, ensuring cost-effective and engaging experiences.

SUI price drops despite ecosystem expansion

Despite strong growth in TVL and new integrations, the SUI token is currently down 2.13% in the past 24 hours, trading at $3.91.

This price performance contrasts with the expansion of the broader ecosystem.

However, analysts point out that SUI price is still up 36% in the past month.

Indeed, data from DefiLlama shows that Sui lending protocols alone have recorded a 78.86% increase in TVL.

This broader liquidity growth across multiple platforms has contributed to the total $2.093 billion now locked in Sui DeFi protocols.

The performance of lending protocols like NAVI Protocol, rising staking incentives on platforms like BigInt, and the user-friendly designs of protocols like Mojito are largely credited for boosting liquidity.

This surge in liquidity is a testament to the increasing attractiveness of Sui to both institutional and retail DeFi participants.

As market volatility continues to affect short-term token price movements, the underlying adoption metrics across the Sui ecosystem suggest it is well-positioned for sustained traction in both the financial and commercial blockchain sectors.