The blockchain rotation in the last bull market cycle created many wealth opportunities, especially the successive emergence of EVM L1 public chains, from Ethereum to BSC, then Fantom and Polygon, and finally picked up by Avalanche. Not only did their tokens themselves have amazing gains, they also drove the protocols in their ecosystems to flourish together. However, in this cycle, EVM L1 is no longer the mainstream narrative. Various L2 Rollup blockchain have sprung up like mushrooms after rain, and the emerging high-performance Move VM blockchains favored by capitals, such as Sui and Aptos, are currently the blockchains with market potential.

In previous issues of CryptoSnap Dr.DODO, we have introduced many L2 Rollup related tracks. This week, we will introduce two potential ecological projects on the Move VM-based Sui and Aptos that have not yet issued tokens to help you make an early layout!

Navi Protocol

The first project to introduce is Navi Protocol, which currently ranks first in TVL of nearly 100M in the Sui ecosystem. After acquiring another top LST protocol Volo in the Sui ecosystem, it currently provides lending and liquidity staking (LST) services.

Navi lending stands out in terms of capital efficiency, security and user experience. Its innovative "Leverage Vault" increases returns through automated leverage, while the "Isolation Mode" reduces the risk of new assets and enables 24-hour real-time account monitoring. Navi continuously optimizes processes and adds reward management, transaction records and other features to provide seamless lending services.

Volo is the LST protocol with the highest market share in the Sui ecosystem, occupying 30% of the market. Volo was also the first place in Sui Foundation's Liquid Stake hackathon. After Navi acquired Volo, it will provide one-stop lending and LST services to better meet user needs.

In addition, Navi is currently conducting a points campaign. The points mechanism includes earning rewards by staking native tokens, fee discounts, and participating in protocol governance. It also references Curve's Ve economy model and introduces the veNavi concept.

Amnis Finance

The second project introduced is the Amnis Finance liquidity staking protocol on Aptos, which currently ranks second in TVL of Aptos at 38M. Amnis provides users with a secure, easy-to-use and innovative liquidity staking solution that allows them to easily maximize returns on APT tokens and unlock liquidity.

Amnis has launched two APT derivative tokens, amAPT and stAPT. amAPT is a stablecoin pegged 1:1 to APT and can be used for trading, adding liquidity, etc. stAPT is a yield-bearing asset representing APT staked by users to Amnis. Holders can earn staking rewards.

What is different from other LST protocols is that Amnis protocol has a built-in yield tokenization product. Amnis tokenizes yield-bearing assets into standardized yield tokens SY, and splits them into principal tokens PT and yield tokens YT to achieve maximum control over yields. This innovation provides users with greater asset control and flexibility in yield management.

Author's Perspective

At the time of writing this article, the $Sui token price continues to hit new highs, and the current on-chain ecosystem is still in a very early pioneering stage. Similarly, apart from Thala occupying the leading position in the ecology, the development of other ecological projects on another Move-based public chain Aptos is also very early.

The two protocols introduced in this article both have LST products. From the perspective of asset allocation, configuring Sui & Aptos tokens and depositing them into LST protocols to earn APR while lying in wait for protocol token airdrops is a good way to catch multiple opportunities.