TechFlow News, the Sui-based DeFi protocol NAVI Protocol has released its Q3 2024 ecosystem report, summarizing technical advancements and ecosystem growth achieved between July and September.
In terms of data growth, NAVI's TVL has reached $400 million, representing a quarter-on-quarter increase of approximately 122%. Meanwhile, NAVI has achieved milestones including 830,000 unique users, $15 billion in total deposits, and $6 billion in total borrowings, further solidifying its position as the leading DeFi protocol in the Sui ecosystem. Additionally, NAVI's social media presence and community size continue to expand.
On the technical front, NAVI completed key roadmap items such as the official launch of NAVI Pro, an upgrade to decentralized oracles for the NAVI protocol, a complete website redesign, multi-language support, and SDK updates.
In ecosystem development, NAVI made significant progress through collaborations including integration with Agora’s AUSD, adding wBTC to the NAVI protocol, Alchemy Pay integration, and Binance Web3 Wallet integration. NAVI also actively participated in industry events such as TOKEN 2049 and Sui Ecosystem Week, helping more users understand its recent developments and future roadmap.
Looking ahead, NAVI plans to build more advanced features that work synergistically with the protocol's deep liquidity, further simplifying DeFi on Sui and delivering an enhanced experience for users and developers alike.
