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 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.