Backpack Wallet and NAVI Protocol have reached a strategic cooperation and launched an exclusive event with a total prize pool of 12,000 US dollars

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On May 21st, according to official news, Backpack announced a strategic partnership with NAVI Protocol, a DeFi project on the Sui blockchain. Users can deposit, borrow, and trade assets directly on NAVI while using Backpack Wallet, with a chance to share a total prize pool of $12,000. Specific activity details can be found here.

Backpack Wallet stated that its monthly active users exceed 500,000, with a peak daily trading volume of $3.66 billion.

Additionally, as the largest DeFi protocol on Sui, NAVI Protocol's total value locked (TVL) reached $750 million at its peak in 2024, and the platform has facilitated over 7.45 million transactions for more than 1 million users.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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