OKX and NAVI Protocol Launch $700K xBTC Lending Campaign on Sui to Boost BTCFi Adoption

In a significant MOVE to advance Bitcoin-based decentralized finance (BTCFi) on the Sui blockchain, NAVI Protocol has partnered with OKX to launch a $700,000 xBTC lending and borrowing campaign. The two-month initiative, running until August 2025, features a substantial incentive pool, with OKX contributing $200,000 in SUI tokens and NAVI Protocol adding $500,000 in NAVX tokens. This collaboration aims to establish xBTC—a 1:1 Bitcoin-pegged wrapped asset—as a cornerstone of Sui's DeFi ecosystem, offering users enhanced liquidity and yield opportunities while bridging Bitcoin's value with Sui's high-speed, low-cost infrastructure.

NAVI Protocol and OKX Launch $700K xBTC Lending Campaign on Sui

NAVI Protocol, a decentralized finance platform built on Sui, has partnered with OKX to introduce xBTC lending and borrowing for the exchange's users. The two-month campaign features a $700,000 incentive pool, with OKX contributing $200,000 in sui tokens and NAVI adding $500,000 in NAVX tokens.

The collaboration aims to establish BTCFi as a core component of the Sui network. xBTC, a Wrapped Bitcoin pegged 1:1 with BTC, enables holders to participate in DeFi ecosystems while maintaining exposure to Bitcoin's value. Liquidity providers can earn rewards in SUI and USDC, benefiting from reduced borrowing rates and native yield opportunities.

"This partnership marks a significant milestone in bringing Bitcoin-native DeFi to Sui," said NAVI co-founder Elliscope Fang. The initiative reflects growing institutional interest in expanding Bitcoin's utility beyond simple holding strategies.

Aptos Stages Robust Recovery as On-Chain Activity Surges

Aptos (APT) has surged 10% to $4.85 amid improving network fundamentals, marking a decisive breakout from recent consolidation. The rally coincides with accelerating DeFi adoption—monthly DEX volume has quintupled since January, reaching $3.46 billion in June despite 6 days remaining.

Stablecoin capitalization on the network has more than doubled year-to-date to $1.4 billion, while weekly active addresses rebounded 55% from April lows to nearly 1 million. The ecosystem gained momentum with Shelby's launch, a decentralized hot wallet solution developed by Aptos Labs and Jump crypto for AI and streaming applications.

Market sentiment further strengthened following the $10 million Ankaa Fund's commitment to support Move-based DeFi projects, backed by Aptos and OKX Ventures. Though TVL has retreated slightly from May's $1.28 billion peak, the $1 billion threshold demonstrates resilient capital deployment.