NAVI to support native USDC on the Sui network
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NAVI to support native USDC on the Sui network
The upcoming migration plan is expected to accelerate the adoption of native USDC, driving growth and optimization in the Sui DeFi ecosystem.
Navigating Web3 tides with focused insightsAuthor: NAVI
Translation: TechFlow
At the recent Token2049 event, the Sui Foundation announced upcoming native USDC support on the Sui network.
Currently, NAVI is the leading DeFi protocol on Sui, with $120 million in USDC liquidity—the third-largest USDC supply in the industry, behind only Aave and Compound. As the first liquidity protocol on Sui, NAVI will integrate Circle’s native USDC asset on day one of launch.
As more blockchain networks adopt USDC, Sui becomes the latest to join. Permissionless composability—one of Web3's core principles—thus becomes increasingly important. This principle accelerates the development of new applications and blockchain networks by leveraging existing open technologies.
The direct integration of Circle's USDC stablecoin into the Sui network enhances capital efficiency and improves user experience across multiple dimensions.
This achievement solidifies Sui’s position within the blockchain industry. NAVI will fully support native USDC by offering a suite of migration features and a capital-efficient native USDC liquidity pool.
Native USDC on SUI vs Bridged USDC
On the Sui network, native USDC holds significant advantages over bridged USDC (wUSDC). Native issuance ensures assets are fully backed and always redeemable 1:1 for USD. This provides greater trust for developers and users alike, who can rely on the integrity of the underlying asset.
The introduction of native USDC simplifies transaction processes on Sui and strengthens ecosystem liquidity. Users can now access USDC directly on Sui, streamlining operations and enhancing overall participant value.
Additionally, with the adoption of the Cross-Chain Transfer Protocol (CCTP), users eliminate typical withdrawal delays associated with bridges, setting a new standard for blockchain efficiency.
NAVI Now Supports Native USDC
To achieve higher asset composability on the Sui network, the NAVI protocol will fully integrate native USDC as part of its lending liquidity pools. As part of a broader ecosystem initiative, NAVI plans to incentivize users to fully transition from bridged USDC to native USDC.
To facilitate this shift, NAVI will launch several in-app features to simplify the migration process, including native USDC liquidity support, flash loans, and more. Detailed migration plans will be released in the coming days, outlining steps for a smooth transition.
This full-scale migration is expected to significantly enhance user experience and drive wider adoption across the Sui ecosystem.
Summary
The introduction of native USDC on Sui marks a major upgrade over bridged versions, delivering stronger functionality and improved user experience.
The NAVI protocol is committed to delivering the best lending experience by integrating native USDC—fully backed by USD and redeemable 1:1. The upcoming migration plan is expected to accelerate adoption of native USDC, driving growth and optimization within the Sui DeFi ecosystem.
Contact:
Ivan Djordjevic
team@naviprotocol.io
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