New Feature Showcase — NAVI Rewards Page
The Supply and Borrow rewards on NAVI are one of the staples of the protocol and stimulate optimal usage of the lending platform.
Following feedback from the community, the NAVI team has worked towards providing the community with a streamlined process for claiming and managing their rewards.
To this end, NAVI recently launched the Rewards Page in the protocol’s decentralized application.
This article will showcase the details of this new feature and give you the tools to manage your rewards in the best possible way. Let’s dive in.
Rewards Page Overview
To access this new page, visit https://app.naviprotocol.io/reward.
Keep in mind that the features within will only be useful to you if you are already supplying and/or borrowing assets to the NAVI protocol.
Once on the rewards page, go ahead and connect your wallet in the upper right corner. This will allow the dApp to populate your rewards.
Let’s take a look at the supply rewards tab first.
Supply Rewards
This tab encompasses three major sections, each one with its specific use case.
Section 1
This first section provides a general overview of the rewards situation for supplying liquidity to NAVI. More precisely, you can consult:
- The total amount of rewards that are available for the current week.
- The amount of rewards already distributed in the current week.
- The amount of rewards available for your account to claim.
Section 2
The second section is directly related to your account. It provides data for the incentivized pools where you have supplied liquidity.
This way, you can assess the liquidity that counts towards the APY generation.
- Pool — the asset pool you are providing liquidity
- APY — the annual percentage yield for your effective supplied assets
- Supplied — the total amount of assets supplied (supply looping included)
- Borrowed — the amount of borrowed assets
- Scoefficient — the coefficient that allows NAVI protocol to control reward distribution in case of supply looping
- Effective Supply — the effective liquidity counting towards users’ rewards
⚠️ For users practicing supply looping, an exclamation mark on their effective supply will be displayed, inviting them to minimize looping to be able to start receiving rewards.
Section 3
This last section provides information regarding pending and already claimed rewards.
The “Details” button will open a pop-up that will provide reward details for all the existing pools.
Finally, the “Claim All” button allows users to claim their rewards across all the pools they are participating in with their liquidity allocation.
Tapping this button will initiate a transaction and automatically claim all the rewards from all the pools.
Borrow Rewards
The Borrow Rewards tab encompasses three similar sections to the Supply Rewards tab.
Section 1
As previously, this section offers a general overview of the rewards situation for borrowing liquidity to NAVI. More precisely, you can consult:
- The total amount of rewards that are available for the current week.
- The amount of rewards already distributed in the current week.
- The amount of rewards available for your account to claim.
Section 2
The second section is directly related to your account. It provides data for the incentivized pools where you have borrowed assets.
- Pool — the asset pool you are providing liquidity for
- APY — the borrow interest rate the users need to pay for borrowing that asset.
- Reward APY — the incentivized rewards users receive for borrowing that asset.
- Borrowed — the amount of borrowed assets
- Supplied — the total amount of assets supplied (supply looping included)
- Bcoefficient — the coefficient that allows NAVI protocol to control reward distribution in case of borrow looping.
- Effective Borrow — the effective borrowed amount counting towards users’ rewards
⚠️ In case the user has practiced borrow nesting to extremes, the effective supply will reduce to 0. A red “!” prompt will invite users to reduce supply looping to start receiving rewards.
Example:
If a user did the following:
- Supply amount A
- Borrow amount B
- Supply borrowed amount B
- Borrow amount C
- Supply borrowed amount C
🔙 They need to reverse this process:
- Withdraw amount C
- Repay loan C
- Withdraw amount B
- Repay loan B
This will ensure that the protocol rewards them fully for their participation in the liquidity pools.
Section 3
The third section provides details of your accrued rewards, claimed or pending.
On each line, the “Details” button will open a pop-up that will provide reward details for all the existing pools.
The “Claim All” button allows users to claim their rewards across all the pools they managed to accumulate rewards for borrowing assets.
Wrap up
Following extensive discussions with the community and taking into account their comments and observations, NAVI has pushed out this update to make the protocol more streamlined and easy to use.
This Rewards page is one step of many that proves NAVI’s commitment to become the leading lending app on Sui, in terms of features, security, and functionality.
