Bybit Expands Staking Options with NAVI, Boosting Liquidity for SUI Ecosystem

Bybit has also unveiled another crypto inside the SUI ecosystem called NAVI as part of this growth. This new coin lets users stake several assets

Major crypto exchange Bybit has unveiled plans to introduce the first native token pool for SUI on Bybit Launchpool. This move is set to enhance the presence of the SUI ecosystem in decentralized finance (DeFi).

The integration of the SUI token into the Launchpool will offer growing visibility and liquidity to the token. This move comes as the SUI token has been gaining attention for its performance.

Additionally, Bybit has also made a switch from a USDT pool to a USDC pool, aiming to attest to more dependable transactions. As the favored stablecoin, USDC offers transparency and reduced volatility over USDT, offering users a more safe staking experience.

"We’re excited to announce that @Bybit_Official is adding the first native token pool for SUI to Launchpool, aiming to boost community activity and expand token offerings. Also, USDT is out and USDC is in for more stable transactions!"

NAVI joins Bybit Launchpool, boosting liquidity for SUI ecosystem

In another development within the SUI ecosystem on Bybit, NAVI is set to join the exchange. This addition will allow users to stake multiple assets including SUI, USDC, and NAVI, expanding the staking options available on Bybit.

As part of Bybit’s larger plan to become more prominent in the DeFi space, the launch of these tokens aims to attract greater liquidity and offer more earning opportunities for users.

"NAVI is now available on @Bybit_Official Launchpool. Together with SUI and USDC, users can enjoy staking multiple assets and expanding their earning possibilities. Get ready for more liquidity!"

SUI’s total value locked surges past $1 billion, token price nears ATH

The total value locked (TVL) in SUI has also surged past the $1 billion mark, indicating rising confidence and demand for the token. Consequently, the SUI price has also seen a noteworthy surge, trading close to its all-time high (ATH) of $2.17.

These developments showcase Bybit’s efforts to adapt its platform to meet user demand. By expanding staking options and improving liquidity for local tokens such as SUI, the exchange is positioning itself as a key player in DeFi.

The high user engagement and transaction volume linked to SUI have contributed to a daily transaction volume growth of 26%.

Meanwhile, on another front, Bybit has also been making moves to accommodate Islamic finance. Recently, the exchange launched a product that aims to be compliant with Sharia law, targeting to attract Muslim investors from around the world.

With a projected $3.9 trillion in Islamic banking, Bybit’s initiative to cater to the two billion Muslims globally reflects the exchange’s aim to tap into a large and underserved market.

The above is the detailed content of Bybit Expands Staking Options with NAVI, Boosting Liquidity for SUI Ecosystem. For more information, please follow other related articles on the PHP Chinese website!