NAVI Protocol Partners with Ondo Finance to Bring Institutional-grade Financial Infrastructure to Sui
NAVI Protocol is thrilled to announce our partnership with Ondo Finance, a leading platform for tokenized real-world assets, as they launch their US treasury-backed, interest-bearing token, USDY, on the Sui Network.
As the first lending protocol on Sui to collaborate with Ondo Finance, we are excited about the possibilities this integration brings to our platform and the broader DeFi ecosystem.
This partnership is foundational to bringing the first native yield-bearing stablecoin, USDY, to the Sui ecosystem.
Since its inception, NAVI has been committed to providing DeFi users with a continuously versatile lending and borrowing protocol. By partnering with Ondo, NAVI plans to enhance this versatility and increase the utility for token holders who are lending and borrowing assets on the protocol.
Ondo’s USDY — an Opportune Fit for NAVI
Ondo’s USDY is the first tokenized bearer note, a yield-bearing alternative to traditional stablecoins, backed by short-term US Treasuries.
This stablecoin changes the dynamics of the current system, as the yields from its reserves are passed onto the holders instead of the entity that issues the asset.
Sui’s distinctive object-centric architecture and delegated proof-of-stake consensus mechanism mainnet are engineered for exceptional transaction throughput and scalability, positioning NAVI as an ideal platform for advanced financial instruments like USDY.
At NAVI, we believe that native USDY integration will enrich Sui’s ecosystem with stable and liquid investment options. This collaboration with Ondo Finance not only strengthens our position as a trailblazer in the DeFi sector but also reflects our dedication to offering the most innovative products to our users.
We look forward to working alongside Ondo Finance to unlock the full potential of DeFi for our users and the broader Sui community.
About Ondo:
Ondo Finance is a decentralized finance (DeFi) protocol that aims to provide institutional-grade liquidity solutions for tokenized real-world assets. The Ondo Ecosystem is the set of partners aligned with this mission, a network of strong partnerships with leading onchain providers across liquidity, custody, and other key onchain services.
About NAVI Protocol:
NAVI, is the inaugural liquidity protocol native to the Sui network. It seeks to establish the cornerstone for chains based on the Move system and aspires to be the premier liquidity protocol in the Sui DeFi ecosystem.
The One-Stop Liquidity Protocol on Sui 💧
