OKX and NAVI Launch $700K xBTC Incentive Program on Sui
OKX and NAVI Protocol launch a $700K campaign to boost xBTC lending on Sui, offering rewards in SUI, NAVX, and USDC for liquidity providers.
Bitcoin Meets Sui: OKX and NAVI Launch $700K xBTC Incentive Program
The race to bring Bitcoin into the world of decentralized finance (DeFi) is heating up—and Sui isn’t sitting this one out.
NAVI Protocol, a leading DeFi protocol built on the Sui Blockchain, has teamed up with crypto exchange giant OKX to kick off a two-month campaign aimed at promoting the use of xBTC—wrapped Bitcoin on Sui—for lending and borrowing.
Incentives for Supply xBTC are live on NAVI
— NAVI Protocol (@navi_protocol) June 24, 2025
Following NAVI’s exclusivity partnership with @wallet, BTCfi is about to get lit 🔥 on Sui!
Deposits and LP incentives through OKX Earn are now live, marking the first step in this exclusive campaign.
Stay tuned as we bring more… pic.twitter.com/uBkanPOpoJ
The joint initiative boasts a $700,000 rewards pool designed to bootstrap liquidity and user participation. OKX will allocate $200,000 in SUI tokens via its OKX Earn program to incentivize users who supply xBTC through the platform. NAVI will add fuel to the fire with an additional $500,000 in NAVX tokens, the native asset of the NAVI Protocol.
“This partnership marks a significant milestone in establishing BTCFi as a cornerstone of the Sui network,” said NAVI co-founder Elliscope Fang. “By collaborating with OKX and the Sui Foundation, we’re empowering users with seamless access to xBTC lending and borrowing, unlocking new possibilities for liquidity and financial innovation.”
The DeFi Utility of xBTC
xBTC is a wrapped asset pegged 1:1 with Bitcoin, enabling BTC holders to tap into DeFi without giving up exposure to their BTC. On Sui, xBTC can be deposited into lending pools, borrowed against, or used across various protocols to earn yield—effectively making idle BTC more productive.
Thanks to this collaboration, users who supply xBTC as liquidity stand to benefit from multiple incentives, including:
- Bonus rewards in $SUI, $NAVX, and $USDC
- Lower borrowing costs
- Expanded access to DeFi-native strategies
The initiative targets both retail and institutional players interested in deploying Bitcoin within a fast-growing, cost-efficient L1 ecosystem like Sui.
BTCFi: The Next Big Trend?
Bitcoin DeFi—or BTCFi—is an emerging narrative that’s gaining momentum. While Ethereum and Solana have dominated DeFi, the push to wrap Bitcoin and enable its use in lending, borrowing, and yield farming is opening up a massive untapped capital base.
Wrapped BTC assets, however, come with tradeoffs. Protocol security, custodial risks, and smart contract vulnerabilities are all considerations that users must weigh before diving in. Incentive campaigns—like this one—serve as a strong user acquisition tool but shouldn’t be mistaken for risk-free opportunities.
That said, programs like the NAVI x OKX campaign may play a pivotal role in making BTCFi more accessible and mainstream. Similar strategies have already proven effective elsewhere—Binance’s Alpha Program, for example, captured over 96% of wallet transaction volume at peak.
Final Thoughts
With this campaign, NAVI Protocol and OKX are betting big on bringing Bitcoin’s deep liquidity into the Sui DeFi ecosystem. Backed by $700,000 in user rewards and a seamless onboarding experience for xBTC holders, the partnership signals a broader push toward DeFi utility for the world’s most valuable digital asset.
As BTCFi continues to gain traction, early movers in ecosystems like Sui may just end up shaping the future of decentralized finance.
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