NAVI Protocol Raises $2M from OKX Ventures, dao5 and Hashed
Summary
The funding round was co-led by OKX Ventures, dao5 and Hashed, with participation from other notable investors including Mysten Labs, Comma3 Ventures, Mechanism Capital, GeekCartel Capital, Nomad Capital, Coin98 Ventures, Cetus Protocol, Maverick, Viabtc, Assembly Partners, Gate.io, Hailstone Labs, Benqi and LBank Labs.NAVI Protocol enables users to participate as liquidity providers or borrowers within the Sui ecosystem, providing crucial DeFi infrastructure for the rapidly evolving world of decentralized finance. NAVI Protocols battle-tested team, which has navigated the competitive Sui landscape, is a testament to their resilience and dedication. It enables users to participate as liquidity providers or borrowers within the Sui Ecosystem.NAVI offers lending/borrowing + LSDeFi infrastructure and currently holds the no.1 position by TVL in both sectors. The protocol enables users to leverage their existing assets and access novel trading opportunities with minimized risks. NAVIs design provides support for digital assets at different risk levels based on specific strategies selected by the user, while its advanced security features ensure the protection of user funds and the mitigation of systemic risks.Leveraging the simplicity and security from the Move programming language, NAVI is committed to democratizing DeFi through continuous and thoughtful innovation and believe in