How to Use NAVI Protocol: Supply, Borrow and Loop on Sui

To use NAVI Protocol, open app.naviprotocol.io, log in with a Sui wallet (or a Google account), supply an asset to start earning interest, and, if you want a loan, borrow a different asset against that collateral while keeping your health factor well above 1. Each borrow carries a one-time 0.3% fee, and you repay in the same asset you borrowed.

This is the practical guide: wallets and gas, supplying, the two borrowing modes (by Market and by Pair), E-Mode, the health factor, rewards, and how looping works on NAVI. For the background on NAVI, its NAVX token and its track record, read our NAVI Protocol overview. Parameters below were checked against NAVI's documentation and open API on 18 October 2026.

Before you start: wallet, gas and the right asset

NAVI is a non-custodial lending market on Sui. As of 18 October 2026, DefiLlama shows about $158M of TVL in NAVI Lending and about $75M borrowed, roughly level with Suilend. You need three things:

• A way to log in. NAVI's supply guide says you can log in with a Google account or a Sui wallet such as Slush or OKX Wallet. Our Sui wallet guide compares the options. A Google login uses Sui's zkLogin; a hardware-backed wallet is the stronger choice for larger amounts.
• A little SUI for gas. Every action is a Sui transaction, and fees are small.
• The asset you want to supply. NAVI lists dozens of assets, from SUI and liquid staking tokens (vSUI, haSUI) to stablecoins (USDC, suiUSDT, USDY, USDSUI) and Bitcoin wrappers. Check the exact token type in the app before sending.

Type the address yourself or use a bookmark. Fake lending front ends that ask for wallet approvals are a common theft route; our guide to wallet drainers explains what to watch for.

How to supply on NAVI

Supplying is the lowest-risk use of NAVI because there is no loan to liquidate. NAVI's docs describe it in a few steps:

1. Click Supply on the asset you want to deposit. Clicking the asset row shows its LTV, collateral value and liquidation threshold.
2. Enter an amount (or Max) and review the APR, health factor and gas.
3. Click Confirm and approve in your wallet. The deposit starts earning immediately.

Supplying is free apart from gas. Your yield comes from borrowers' interest, which rises with the pool's utilisation rate, plus any incentives NAVI is running on that pool. To withdraw, find the asset under Your Supplies, click Withdraw and confirm. If the asset is backing a loan, withdrawing lowers your health factor.

What the rates looked like on 18 October 2026

Rates move constantly, so treat this as a dated snapshot from NAVI's open API, base interest only (incentives are extra):

Notice that every borrow rate is above its supply rate. That is normal for pooled lending: suppliers share borrowers' interest only on the borrowed part of the pool, minus a reserve share. It is also why looping one coin only pays when rewards are added, as covered below.

NAVI also has an Earn section with curated vaults: Prime vaults for isolated, blue-chip markets and High Yield vaults for broader, riskier ones (NAVI Earn docs). Curators set the markets and take fees, much like the vault curators on other chains.

How to borrow: by Market or by Pair

The Borrow page has a toggle with two modes (NAVI borrow docs):

• By Market is the classic shared model. You supply several assets and borrow against the combined balance, with one health factor for everything.
• By Pair uses isolated single-pair markets. Each market is one collateral and one borrow asset, walled off from the rest, with higher LTV on blue-chip pairs.

The flow is the same in both. Choose collateral and an amount, choose what to borrow, let NAVI match a market (or pick one), then review the health factor, liquidation price and borrow APR before confirming. NAVI charges a one-time 0.3% borrow fee, taken from the borrowed amount.

If your pair matches an E-Mode market, NAVI allows a higher LTV. Its E-Mode table lists vSUI collateral against a SUI borrow at 90% LTV, a 93% liquidation threshold and a 5% penalty (E-Mode parameters). E-Mode suits correlated assets: vSUI is staked SUI, so the two prices move closely together.

To repay, use the Repay button in your portfolio. You repay in the asset you borrowed, plus interest, either from your wallet or by using your collateral.

Health factor and liquidation

NAVI's health factor is your collateral value weighted by each asset's liquidation threshold, divided by your total borrows. Above 1 you are safe; below 1 you can be liquidated (NAVI liquidations). In a liquidation, up to 35% of the debt (depending on the token) is repaid by a liquidator, who takes the same value from your collateral plus a penalty.

Two habits help:

• Leave a buffer. Borrowing to the maximum LTV leaves only the small gap between LTV and the liquidation threshold. Many borrowers keep the health factor above 1.5.
• Watch the borrowed asset as well as the collateral. If you borrow SUI against USDC and SUI's price rises, your debt grows in dollar terms.

Our explainers on the health factor and liquidation price include worked examples.

Rewards and how they are counted

On top of base interest, NAVI pays incentives on many pools. On 18 October 2026 the API listed the reward coin on its stablecoin pools as vSUI. NAVI's app also offers one-click claim and compounding. Rewards are set by NAVI and change, so judge a pool first on its base rate.

One rule matters if you plan to loop. NAVI's borrowing guide says that borrowing the same token you supply "will significantly reduce the rewards you can receive", with the counted amount equal to supply minus borrow. Check how the current programme treats your position before relying on reward income.

Looping on NAVI

A loop means supplying a coin, borrowing against it and supplying the proceeds again. NAVI supports flash loans on all pools, which lets tools build a loop in one transaction (NAVI flash loans), and its Earn section lists Multiply strategies. NAVI's Optimize tool can also migrate a position from Suilend in one transaction, with the 0.3% borrow fee applied to borrowed amounts.

Before looping by hand, read our DeFi looping guide. The two main risks are rate risk, because leverage multiplies the gap between what you earn and what you pay, and liquidation risk if collateral and debt are different assets.

If you would rather not manage a loop yourself, JewelSwap's NAVI Loop beta runs same-asset USDY and USDSUI loops on NAVI through a keeper, with on-chain limits on what the keeper can do. It is unaudited, capped at about $10,000 per vault and, as its docs say, profitable only while NAVI's rewards outweigh the negative interest spread. Our NAVI Loop guide explains it in full.

Risks of using NAVI

• Smart-contract risk. NAVI lists audits by OtterSec and MoveBit and a bug bounty on HackenProof of up to $300,000 for critical contract bugs (bug bounty). Audits reduce risk; they do not remove it. NAVI's own FAQ calls the platform a beta product.
• Liquidation risk. Borrowers can lose part of their collateral plus a penalty if the health factor drops below 1.
• Rate and reward risk. Variable rates can jump when a pool is heavily used, and incentives can be cut at any time.
• Withdrawal liquidity. If a pool is almost fully borrowed, suppliers may have to wait to withdraw.
• Oracle risk. NAVI's FAQ lists oracle manipulation among its risks. Its oracle combines feeds and rejects stale prices, but no oracle design is perfect.
• Group risk. NAVI's subsidiary Volo reported a loss of about $3.5M from three vaults in April 2026, separate from NAVI's lending contracts.

Frequently asked questions

Do I need a wallet to use NAVI Protocol?

NAVI supports a Sui wallet such as Slush or OKX Wallet, and also lets you log in with a Google account. Either way you need a little SUI for gas.

What fees does NAVI charge?

Supplying is free apart from gas. Borrowing carries a one-time 0.3% fee taken from the borrowed amount, and you pay variable interest on the loan.

What is the difference between by Market and by Pair on NAVI?

By Market is a shared account where all your collateral backs all your loans with one health factor. By Pair uses isolated single-pair markets, each its own position, with higher LTV on blue-chip pairs.

When does NAVI liquidate a position?

When the health factor falls below 1. A liquidator then repays up to 35% of the debt, depending on the token, and takes the same value of collateral plus a penalty.

Can I loop on NAVI without doing it manually?

Yes. NAVI has its own Multiply strategies, and JewelSwap's NAVI Loop beta runs same-asset USDY and USDSUI loops through a keeper. Both carry rate and smart-contract risk, and NAVI Loop is unaudited and capped.

Keep reading

• What is NAVI Protocol?
• NAVI vs Suilend
• NAVI Loop: same-asset stablecoin loops
• How to use Suilend
• Sui lending protocols compared

Educational content, not financial advice. Rates, LTVs and TVL are as of 18 October 2026 from NAVI's documentation, NAVI's open API and DefiLlama, and change constantly. Always check the live figures in the NAVI app.