NAVI Protocol Urges Users To Claim V2 Liquidity Rewards By Tomorrow
In Brief
NAVI protocol announced that the Incentive V3 upgrade is now live and users are encouraged to claim their NAVI V2 rewards before March 1st, as they will no longer be available for claim after that date.
Decentralized finance (DeFi) and liquidity protocol built on the Sui network, NAVI announced that the Incentive V3 upgrade is now live. Users are encouraged to claim their NAVI V2 rewards before March 1st, 11:00 UTC, as rewards will no longer be claimable after that date.
In order to finalize the implementation of the new gas reduction incentive distribution model, users must claim their rewards from the V2 incentive model, with two key deadlines for claims. Users with unclaimed rewards from liquidity provision up to February 1st should claim them immediately.
Additionally, users with unclaimed rewards from liquidity provision up to March 24th must claim by March 24th, 11:00 UTC, before the V2 incentives are fully replaced by the V3 module.
NAVI Launches V3 Incentive Module To Optimize Protocol Interactions
The V3 version of NAVI’s Incentive model is designed to reduce gas costs for all interactions with the NAVI Lending protocol. This updated version aims to streamline user interactions, including asset supply and borrowing, utilizing LST strategies, and claiming and re-supplying rewards.
With the new model, gas fees are lowered, making it more efficient for users to engage with NAVI’s features. This improved gas efficiency allows users to claim smaller reward amounts more frequently, helping them to compound their incentives faster and experience the snowball effect of this feature.
Ultimately, the V3 model enhances capital efficiency for all users, regardless of the size of their holdings, and makes DeFi benefits more accessible to a wider audience. Additionally, the implementation of V3 removes the need for monthly claim deadlines, allowing users to accumulate rewards indefinitely.
The V3 incentives will fully take effect once users claim their rewards accumulated before the launch.
NAVI, the first liquidity protocol developed for the Sui network, aims to establish foundational standards for other blockchains that use the Move programming language. Recently, NAVI Protocol partnered with Ondo Finance for a campaign that rewards users who deposit USDY. The campaign, running until March 12, offers a total prize pool of $35,000 for participants.
Disclaimer
In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.
About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
More articles
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
