Hidden dark horse in Sui and Aptos ecology - Navi and Amnis layout guide

Source: DODO Research

The rotation of public chains created many wealth opportunities in the last bull market cycle, especially the successive rise of EVM L1 public chains, starting from Ethereum and then to BSC and then Fantom and Polygon and Avalanche, which finally took over, not only saw an astonishing increase in the public chain tokens themselves, but also drove the growth of various protocols in the ecosystem; in this cycle, EVM L1 is no longer the mainstream narrative, and various L2 Rollup public chains such as Emerging high-performance Move VM public chains, such as Sui and Aptos, have sprung up like mushrooms and are favored by capital, which are the current market potential public chains.

CryptoSnap Dr.DODO in previous issues has introduced many L2 Rollup-related tracks to you. This week, we will introduce two potential ecological projects of Move VM series Sui and Aptos that have not yet issued coins. , help you plan an ambush in advance!

Navi Protocol

The first one I want to introduce is Navi Protocol, which currently ranks first in the Sui ecosystem with a TVL of nearly 100M, and then acquired Sui Volo, another top LST protocol in the ecosystem, currently provides lending and liquidity staking (LST) services.

Source: https://twitter.com/navi_protocol

Navi Lending is known for its capital efficiency, security and user experience. Its innovative "Leverage Vault" increases returns through automated leverage, and its "Isolation Mode" reduces the risk of new assets and allows 24-hour real-time monitoring of accounts. Navi continuously optimizes the process and adds new reward management, transaction recording and other functions to provide seamless lending services.

Volo is the protocol with the highest proportion of the liquidity staking market in the Sui ecosystem, accounting for 30% of the market. Volo is also the first place in the Sui Foundation Liquid Stake Hackathon. After Navi acquires Volo, it will Provide one-stop lending and LST services to better meet user needs.

In addition, Navi is currently conducting points activities. The points mechanism includes using native tokens to pledge to obtain income, fee discounts and participation in protocol governance. It also draws on Curve’s Ve economic model and introduces the veNavi concept.

Amnis Finance

The second project introduced is Amnis Finance, the liquidity staking agreement on Aptos. Currently, TVL ranks second on Aptos and reaches 38M. , Amnis provides users with a secure, easy-to-use and innovative liquidity staking solution that allows them to easily maximize the earnings of APT tokens and unlock liquidity.

Source: https://docs.amnis.finance/amnis-protocol/how-amnis-works

Amnis has launched two APT derivative tokens, amAPT and stAPT. amAPT is a stable currency corresponding to APT at a 1:1 ratio and can be used for transactions, adding liquidity, etc.; stAPT is a revenue-generating asset , the APT pledged to Amnis on behalf of the user, the holder can earn pledge income.

Different from other LST protocols, the Amnis protocol has built-in income tokenization products. Amnis packages income-bearing assets into standardized income tokens SY and splits them into principal tokens PT and income. Token YT achieves maximum control over income. This innovation provides users with greater asset control and income management flexibility.

Author’s point of view

At the time of writing this article, the price of $Sui continues to hit new highs, and the current on-chain ecosystem is still in a very early development stage. In addition to Thala, another Move-based public chain Aptos, which occupies the leading ecological position, the development of other ecological projects is still in its early stages.

Both protocols introduced in this article have LST products. For the author, from the perspective of asset allocation, I configure Sui & Aptos tokens and deposit them into the LST protocol to earn APR while ambushing the protocol tokens. Airdrops are a great way to eat more than one fish.