NAVI Protocol

Prime

USDC

Ethereum

<p>Ethereum (<a href="https://x.com/ethereum" rel="noopener noreferrer nofollow">@ethereum</a>) <a href="https://x.com/search?q=%24ETH&amp;src=cashtag_click" rel="noopener noreferrer nofollow">$ETH</a> users can now access the Sui lending market run by NAVI (<a href="https://x.com/navi_protocol" rel="noopener noreferrer nofollow">@navi_protocol</a>) <a href="https://x.com/search?q=%24NAVX&amp;src=cashtag_click" rel="noopener noreferrer nofollow">$NAVX</a> without manually bridging their funds. The route runs through a new <a href="https://x.com/search?q=%24USDC&amp;src=cashtag_click" rel="noopener noreferrer nofollow">$USDC</a> yield vault that NAVI built with Lagoon Finance (<a href="https://x.com/lagoon_finance" rel="noopener noreferrer nofollow">@lagoon_finance</a>).</p>
<p>Deposits flow into NAVI USDC Prime on Sui (<a href="https://x.com/SuiNetwork" rel="noopener noreferrer nofollow">@SuiNetwork</a>) <a href="https://x.com/search?q=%24SUI&amp;src=cashtag_click" rel="noopener noreferrer nofollow">$SUI</a>. Users connect an EVM wallet, submit a deposit request, and typically wait around 24 hours for settlement. NAVI says Prime has attracted more than $8 million in USDC since August 18.</p>
<h2 id="how-the-ethereum-usdc-vault-works">How the Ethereum USDC vault works</h2>
<p>According to TokenPost, the vault accepts USD Coin deposits on Ethereum to support NAVI USDC Prime on Sui, and is intended to add stablecoin liquidity to Sui's decentralized finance ecosystem. For users, the main change is that the cross-chain step is handled through the vault rather than by the depositor.</p>
<p>The settlement window is longer than a standard on-chain deposit. NAVI's own app lists the Ethereum-facing product separately from its Sui-native vaults. At the time of writing, its listing for a USDC High Yield vault on Ethereum showed a 9% APR and roughly $1,015 in deposits, while the native USDC Prime vault on Sui showed about $5.7 million in TVL, according to the NAVI app. Yields and balances change frequently and should be checked directly before depositing.</p>
<h2 id="navi-prime-and-the-sui-lending-market">NAVI Prime and the Sui lending market</h2>
<p>NAVI Prime is a lending framework on Sui aimed at funds and professional investors. Crypto News reported that it is designed to give those users more clarity, transparency and control over how capital is managed onchain.</p>
<p>NAVI is one of the older lending protocols on Sui. Its total value locked has fallen well below earlier highs. DefiLlama data shows about $144 million in TVL on Oct. 26, 2026, compared with roughly $640 million at the end of September 2025. A new inflow channel from Ethereum could help widen the pool of USDC available to the protocol, though the $8 million raised by Prime so far is small relative to that total.</p>
<p>The launch adds to a broader push to make DeFi liquidity easier to move between networks. Whether Ethereum-based depositors adopt the vault at scale will depend on yields, settlement times and confidence in the vault's risk controls.</p>
<p><strong>Sources:</strong></p>
<ul>
 <li><a href="https://www.tokenpost.com/news/technology/41363" rel="noopener noreferrer nofollow">TokenPost: Ethereum USDC Deposit Vault to Support NAVI USDC Prime on Sui</a></li>
 <li><a href="https://crypto.news/navi-prime-launches-institutional-lending-on-sui/" rel="noopener noreferrer nofollow">Crypto News: NAVI Prime launches institutional lending framework on Sui</a></li>
 <li><a href="https://defillama.com/protocol/navi-protocol?denomination=SUI" rel="noopener noreferrer nofollow">DefiLlama: NAVI Protocol TVL, revenue and fees</a></li>
</ul>

Sui Network’s NAVI Opens a New Route for Ethereum USDC

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