[PRESS RELEASE – New York, United States, April 2nd, 2024]
NAVI Protocol has announced the creation of the NAVI X Ecosystem Fund, committing 10M NAVX tokens to support the growth and innovation of the Sui blockchain’s DeFi and Move-based ecosystem. This initiative aims to provide vital resources for projects at different stages of development, with a focus on enhancing the Sui blockchain’s functionality and user base.
The fund is a collaborative effort involving key stakeholders from the DeFi space, designed to equip developers with financial, strategic, and networking resources necessary for the development and scaling of innovative projects on the Sui blockchain.
Recognizing the importance of development support, NAVI Protocol’s NAVI X Ecosystem Fund aims to foster a nurturing environment for developers. This involves financial backing and also advisory services, industry connections, and marketing support to ensure the sustainable growth of projects within the Sui ecosystem.
The fund marks a significant step towards enhancing Sui’s DeFi landscape, offering a range of incentives for builders, including hackathon bounties, developer grants, and partner rewards. It seeks to attract and support innovators and developers dedicated to broadening the utility and adoption of the Sui blockchain.
NAVI X Ecosystem Fund’s main activity will focus on:
– Providing financial support to promising projects, thus stimulating growth and innovation.
– Enhancing the liquidity and financial stability within the Sui ecosystem.
– Supporting the development of secure and resilient DeFi applications.
– Encouraging the exploration of new use cases and technologies on the Sui blockchain.
– Support community builders with NAVX tokens to foster a vibrant ecosystem.
– Attract leading development teams to the Sui blockchain through targeted grants and incentives.
– Enhance the Sui blockchain’s infrastructure and developer tools to improve the building experience.
About NAVI Protocol
NAVI Protocol offers lending, borrowing, and liquid-staking services on the SUI blockchain, aiming to contribute to the blockchain’s growth and development. The NAVI X Ecosystem Fund represents NAVI Protocol’s commitment to supporting the SUI blockchain ecosystem and its developers.
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