ChainCatcher news, according to Assiyaq, the UAE-based Web3 service provider Verofax has announced the completion of a $3 million bridge financing. This round of financing was led by investors including King Abdullah University of Science and Technology, Plug & Play Tech Center, Navig8 Group, and Trove Capital UK. Other participants in this round of financing include Jawa Brothers Advisory, Alzamil Pedco CVC, and Tracecore CVC.The newly acquired funds will be used to advance Verofax's projects in the Middle East and the EU. These projects include AI guidelines tailored for the Gulf Cooperation Council region and a sports fan guide for audiences in the EU and North America.Verofax was founded in 2018 by Wassim Merheby and Jamil Zablah, leveraging Web3 technologies such as augmented reality, blockchain, and artificial intelligence to enhance the marketing experience for tourists, shoppers, and brands.It is reported that in 2022, Verofax raised $1.5 million in a pre-Series A financing round led by Benson Oak Ventures, with participation from 500 Global, Wami Capital, and Vernalis Capital.

According to ChainCatcher news reported by Chainwire, the SUI ecosystem lending and liquid staking service NAVI Protocol has announced the establishment of the NAVI X ecosystem fund, committing to invest 10 million NAVX tokens (valued at 2.88 million USD at current rates) to support the development and innovation of the Sui blockchain's DeFi and Move ecosystem, including providing a range of incentives for developers, such as hackathon prizes, developer grants, and partner rewards.

ChainCatcher news, the Sui ecosystem's one-stop liquidity protocol NAVI Protocol announced on social media that it has partnered with the RWA platform Ondo Finance to promote institutional-level DeFi adoption on the NAVI Protocol.

ChainCatcher news, according to The Block, former Ripple Managing Director Navin Gupta will serve as the CEO of the crypto intelligence company Crystal Blockchain and lead the expansion of Crystal Blockchain's regional business. Current CEO Marina Khaustova will transition to the role of Chief Operating Officer.

ChainCatcher news, the native one-stop liquidity protocol on Sui, NAVI Protocol, has released the NAVX tokenomics. The total supply of NAVX tokens is 1 billion, of which 20% will be allocated to team members; 10% is reserved for daily operations and strategic initiatives; 4% will support market makers to ensure liquidity; 1.2% will be allocated for the initial DEX offering; 3% will be used for promotional and marketing activities; 45.8% will be used to incentivize TVL growth, conduct events, and airdrops, including initial rewards for early supporters; and 16% will be allocated to investors and advisors. Additionally, users can provide liquidity for the NAVX/SUI and NAVX/vSUI trading pairs in the DEX to earn LP tokens.In previous news, NAVI Protocol will conduct the IDO of its governance token NAVX on the Cetus Launchpad on February 4th, with the launch time set for 20:00 Beijing time on February 4, 2024, and the end time set for 20:00 Beijing time on February 7. After the end, token claims will begin. This IDO will offer 12 million NAVX tokens, accounting for 1.2% of the total supply.

ChainCatcher news, Navin Gupta, who served as the Managing Director for Ripple in South Asia, the Middle East, and North Africa, announced his departure from Ripple. Gupta joined Ripple in 2017 and has worked there for 7 years.According to LinkedIn, Navin Gupta worked at Citigroup for 4 years and at HSBC for 10 years before joining Ripple.

According to ChainCatcher news, the Sui ecosystem's one-stop liquidity protocol NAVI Protocol has announced the completion of a $2 million financing round, led by OKX Ventures, dao5, and Hashed, with participation from Mysten Labs, Comma3 Ventures, Mechanism Capital, GeekCartel Capital, Nomad Capital, Coin98 Ventures, Cetus Protocol, Maverick, Viabtc, Assembly Partners, Gate.io, Hailstone Labs, Benqi, and LBank Labs.NAVI Protocol will use the funds from this financing round to expand its one-stop lending and LSDeFi platform.

ChainCatcher news, OKX Ventures announced that it will lead the investment in NAVI Protocol, the first native one-stop liquidity protocol on Sui. It allows users to lend and borrow different assets on the Sui network while providing innovative features such as liquid staking and leveraged vaults, offering users efficient, secure, and convenient financial services. The advantage of NAVI Protocol lies in its utilization of Sui's high performance, low cost, and multi-thread optimization, providing users with a smooth user experience and optimized capital efficiency. It also employs multiple security mechanisms, such as health coefficients, isolation modes, supply limits, and reliable oracles, to ensure the safety of users' funds.Dora, the founder of OKX Ventures, stated, "We are very honored to co-lead the investment in NAVI Protocol. NAVI Protocol demonstrates its ability to leverage the immense potential of the SUI ecosystem in the DeFi space and serves as an important infrastructure framework in the rapidly rising decentralized finance world. Since its successful deployment on the Sui mainnet 8 months ago, NAVI Protocol has proven its stability and efficiency, consistently maintaining a leading position in TVL rankings and contributing significantly to the growth and expansion of the Sui ecosystem. Based on Sui's parallel capabilities and the asset-oriented programming features of the Move language, we remain optimistic about the potential for complex applications in its ecosystem, such as derivatives, NFTs, gaming, and AI. In this regard, NAVI Protocol will continue to contribute as a DeFi infrastructure to the Sui ecosystem, promoting the composability and prosperity of DeFi within the Sui ecosystem."

ChainCatcher news, Gate.io announced the launch of Inscription Navigator: a one-stop inscription information aggregation platform that covers a variety of inscription protocols in popular ecosystems such as Bitcoin, Dogecoin, and TON. Users can quickly locate relevant protocol-related inscription publishing, inscription engraving, blockchain explorers, Gas queries, and other quick access points through this platform.In addition, the Inscription Navigator supports aggregated browsing of relevant information for corresponding inscription ecosystem trading pairs, with one-click access to trading and minting entrances. At the same time, the platform provides education and operation guides related to inscriptions, offering users comprehensive inscription navigation services.