Sui Name Service (SuiNS) enables blockchain users to register human-readable web3 names, ensuring secure, seamless transactions and a user-friendly on-chain identity.

Some people have no trouble remembering new cell phone numbers, and there are even a select few among us who wouldn't find it hard to memorize a 16-digit bank card number. However, very few people would choose to tackle the job of reliably recalling an alphanumeric blockchain address. Network addresses on 

 (ETH) are 42 characters long, while on the 

 (SUI) blockchain they span 66. These complex and length addresses are virtually impossible for most users to remember, and are among the least user-friendly features of 

 networks. Not only are long blockchain addresses distinctly user-unfriendly, but they also lead to many instances of wrongly executed transactions due to incorrectly input characters. 

Sui Name Service (NS), a solution on the Sui blockchain, has been specifically designed to tackle this problem. The service allows users to create human-readable and easy-to-remember web3 names linked to their underlying blockchain addresses. Using SuiNS, you can transact within web3 using your preferred username and, optionally, an avatar, rather than a long, complex blockchain address.

 (NS), or simply SuiNS, is a decentralized naming service that allows you to create and use a human-readable, user-friendly web3 handle to interact with the blockchain environment, instead of using a typical long and complicated network address. 

At the underlying level, your SuiNS name is linked to your blockchain address, but all the interaction and operations on the chain happen via your registered name.

SuiNS was first conceptualized and launched in 2022, inspired by the popular 

 (ENS). In many ways, SuiNS and ENS are similar, the obvious difference being that each one applies to its own respective blockchain environment. In May 2023, SuiNS was introduced on the Sui blockchain's newly launched mainnet. The service was developed and is supported by Mysten Labs, the development studio behind the Sui blockchain project. Since the beginning of the Sui blockchain's conceptualization, SuiNS has been among the core projects of the entire Sui ecosystem. As of late November 2024, SuiNS has managed to achieve the remarkable milestone of having registered nearly 330,000 names.

Using SuiNS, you can register your preferred username (as long as it's not been taken) for one year by paying a registration fee, currently charged in SUI coins. The name can be renewed at expiration for up to five years. All interactions with the blockchain environment through your wallet use your preferred username, rather than your blockchain address.

SuiNS names can be between 3 and 63 characters. Users can check the availability of their preferred handle and register it using the 

, where a lookup textbox is prominently displayed. Shorter names cost more than longer handles. As of the time of this writing (Nov 21, 2024), a three-character-long name costs 500 SUI ($1,785) and a four-character name will cost 100 SUI ($357), while names with five or more characters are priced at 20 SUI ($71.40).

A SuiNS name can only be registered for one year, but it can be renewed for up to four years (excluding the initial registration year). There's a 30-day grace period after the expiration of your SuiNS name, during which you may still renew it. If you don't renew during the grace period, your registered name will be up for grabs by anyone on the market. Optionally, you can buy an NFT avatar linked to your SuiNS name.

 (DApp) ecosystem on the Sui blockchain. Developers can use off-chain remote procedure calls (RPCs) to integrate the Sui service into their application environments. They can also take advantage of the native, on-chain SuiNS SDK to interact with the service.

Thanks to SuiNS, you can enjoy short, comprehensible names for your own address, as well as the addresses of the parties with whom you transact (if they also sign up for the service). No more forgettable string combinations that are hard to read and virtually impossible to remember!

However, a SuiNS name isn't just a tool of convenience. It also represents your decentralized identity on-chain. The identity is fully owned by you, the user, rather than by a centralized entity.

SuiNS minimizes the likelihood of lost assets due to sending funds to the wrong address: short, easy-to-remember names are way less prone to incorrectly executed transactions than standard blockchain addresses.

Security is also among the benefits of SuiNS. The service runs on the Sui chain, which prides itself on developing and enforcing high-grade security standards. Among these are 

, a framework that maintains a list of malicious websites and on-chain assets, thus protecting the Sui ecosystem from 

 launched by these known nefarious entities.

The SuiNS service launched its native token, NS, on Nov 14, 2024. Initially, NS is envisioned to support 

 processes on the platform, and will also be used for purchasing and trading SuiNS names. Currently, names are traded using SUI, the blockchain's native cryptocurrency. It's likely that NS will replace SUI in this capacity in the near future. The project team has also hinted that there could be additional uses for the NS token beyond governance and payment for SuiNS names. More announcements on this issue are likely to follow.

During the initial phase of the token's existence, governance will be its most prominent function. Holders of NS will be able to vote on important issues concerning the protocol's rules and future direction. One NS equals one vote, with more NS tokens giving you a greater say in the overall decision-making process. You can also increase your voting power by locking your NS tokens for from one to 12 months. For every additional month locked, you obtain 10% voting power. To encourage voting, 5% of the NS token's supply has been allocated for governance rewards. NS is a 

 token, with a total and maximum supply set at 500 million. The token's supply distribution shares are per the chart below.

NS is available on Bybit's Spot market as a swap pair with USDT (

). You can also take advantage of Bybit's campaign dedicated to the token to grab a share of the 

. Three campaign events for eligible users run through Nov 27, 2024, 8AM UTC:

Thanks to Sui Name Service, interacting on-chain has become easier and more user-friendly. However, easy-to-remember names aren't the only benefit: advantages also include lower likelihood of lost funds, better security and a completely decentralized, user-owned identity on-chain. So far, around 330,000 names have been registered, and with the impressive suite of benefits, expect this number to grow as we move with SuiNS into 2025.

Intermediate

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Sui Name Service (NS): Your On-Chain Identity Made Simple

The cryptocurrency market is witnessing an influx of speculative trading, particularly with meme coins like DOGE, PEPE and BONK experiencing extraordinary gains. 

November 2024 has marked a significant milestone for Bitcoin, with its price soaring to $94,105. This unprecedented growth has been driven by global events and heightened social media discussions, with predictions of six-figure valuations. Historically, peaks in social media chatter often precede market corrections, signaling traders to exercise caution. Currently, while whale accumulation remains strong — with wallets holding over 10 Bitcoin adding 53,006 more BTC in just one month — retail traders remain surprisingly cautious. This wary sentiment contrasts sharply with the bullish behavior usually seen during price surges, suggesting a potential correction.

The cryptocurrency market is witnessing an influx of speculative trading, particularly with meme coins like DOGE, PEPE and BONK experiencing extraordinary gains. Despite their volatility, these tokens reflect a broader appetite for high-risk investments. Notably, whale investors holding 1M–100M DOGE are accumulating, while smaller holders are selling, creating conditions for potential breakouts. However, if new capital stops flowing, these speculative assets could face significant downturns. Additionally, while discussions around Bitcoin reaching $100K are increasing, they haven’t reached the levels seen earlier this year, indicating that fear of missing out (FOMO) may not yet be fully realized.

Institutional Interest and Ethereum's Resurgence

Demand for Bitcoin ETFs has surged, with daily trading volumes hitting a record $8.21 billion, signaling increased institutional interest. This activity often coincides with market peaks, but could also indicate new investments flowing into the crypto space. Meanwhile, Ethereum has also gained momentum, breaking above $3,100 for the first time in over 14 weeks. Additionally, whale accumulation is on the rise, suggesting that as Bitcoin leads the market, profits may soon be redirected into Ethereum. In contrast, Solana's price movements remain highly sentiment-driven, with funding rates indicating potential entry points for investors. Overall, altcoins are experiencing growth, particularly following the U.S. elections, which have reignited optimism in the crypto market.

Advanced

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Bitcoin's Resurgence: Analyzing Market Dynamics and Speculative Trends in November 2024

Crypto market makers play a crucial role in providing liquidity by consistently placing buy and sell orders. Learn more about how they work here.

The cryptocurrency market is notorious for its high volatility and sometimes low liquidity, making it a challenging environment for traders and investors. Executing trades can be difficult, often resulting in significant price 

Market making is a strategic approach that provides the necessary liquidity to stabilize markets, ensuring smoother trades and reducing volatility. By creating buy and sell orders around the current market price, market makers help maintain a healthy trading ecosystem. This article examines the fundamentals of market making, its benefits for traders and exchanges and the way it enhances the overall efficiency of the cryptocurrency market.

A crypto market maker is an entity or individual who primarily provides liquidity in cryptocurrency markets by continuously placing buy and sell orders for digital assets. This activity ensures efficient trading and helps maintain stable prices.

Crypto market makers play a key role in keeping markets liquid by continuously placing buy and sell orders on exchanges. Here's a closer look at how they operate.

Key Characteristics of a Crypto Market Maker

Crypto market makers provide liquidity and stabilize prices in the cryptocurrency market. The following are the key traits that enable them to operate effectively.

Market makers continually place buy and sell orders, ensuring the availability of transactions for traders. This constant availability reduces wait times for trades and minimizes the price impact of large orders, making the market more efficient and accessible for everyone.

One of the fundamental roles of market makers is that of managing the bid-ask spread. By consistently quoting competitive prices, they narrow this spread, thereby enhancing trading efficiency and reducing costs for other market participants. This spread is also their primary source of profit.

Market makers leverage advanced algorithms and HFT strategies to analyze market conditions and optimize their order placements. This technology allows them to react swiftly to price changes and maintain a balanced inventory of assets, which helps to manage risk and maximize profitability.

Due to the inherent volatility of cryptocurrency markets, effective risk management is vital for market makers. They employ various techniques, such as hedging and real-time market analysis, to minimize exposure to sudden price swings. This ensures their operations remain stable even in the face of market fluctuations.

By providing continuous liquidity and facilitating smooth trading operations, market makers enhance overall market efficiency. Their presence attracts more traders, which increases transaction volumes, boosts exchange activity and contributes to a healthier trading environment.

Given the quickly evolving nature of the cryptocurrency landscape, market makers must be adaptable, continually refining their strategies in response to new technologies, regulatory changes and shifts in market dynamics. This ensures they remain competitive and relevant.

Crypto market makers play a critical role in the cryptocurrency ecosystem by providing liquidity and stabilizing prices. Despite the integral role they play, however, their operations come with both advantages and disadvantages. 

Additional Importance of a Crypto Market Maker

Crypto market makers play a vital role in maintaining the efficiency and stability of the cryptocurrency market. Their presence on crypto exchanges ensures trading environments operate smoothly. 

Newer and smaller cryptocurrencies often struggle with liquidity. Market makers provide a market for these assets, promoting their growth and creating a more diverse and dynamic crypto ecosystem.

Through continual quoting of prices, market makers aid in fair price discovery, ensuring that cryptocurrency prices reflect actual market demand rather than extreme fluctuations. This promotes a more trustworthy and transparent trading environment that allows traders to make data-backed decisions. 

Crypto market makers are essential players in the cryptocurrency ecosystem, providing liquidity, stabilizing prices and ensuring smooth trade execution. Their use of advanced algorithms and real-time order placements encourages a more efficient, accessible and fair market. However, risks such as market manipulation, potential capital loss and lack of regulation can be problematic. Overall, the role of market makers in supporting emerging assets and maintaining market stability makes them indispensable for a healthy and growing crypto environment.

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Crypto Market Maker: Boosting Trades With Strategic Liquidity

SEC Chair Gary Gensler announced he will resign on January 20, 2025, coinciding with President-elect Donald Trump's inauguration.

The S&P 500 rose 0.53% as investors shifted toward cyclical stocks expected to benefit from a strengthening economy, while technology shares lagged. Coindesk Indices, an index measuring broader cryptocurrency market performance was up by 4.79%, with Bitcoin and Ether rising by  4.19% and 8.75%, respectively in the past 24 hours.

Today's top performer is XRP, which surged 24.3% following the partnership between Ripple and MCSocialVenture to boost financial resilience and access in emerging markets.

Ripple (XRP), launched in August 2012, is a blockchain technology company focused on improving international payments with its cryptocurrency, XRP. 

, focused on investing in emerging market entrepreneurs. The initiative will pilot financial resilience and humanitarian solutions built on the XRPL, aiming to advance equitable access to finance.

Check Out the Latest Prices, Charts, and Data of 

 he will resign on January 20, 2025, coinciding with President-elect Donald Trump's inauguration. Gensler, whose term runs until 2026, faced pressure from the crypto lobby due to the SEC’s strict regulatory actions against the industry, including high-profile cases against Coinbase and Binance. Gensler’s departure is seen as a victory for crypto advocates, who hope the next SEC chair will be more crypto-friendly. Trump has hinted at firing Gensler on his first day in office and is expected to appoint a chair with expertise in crypto, such as Mark Uyeda, Hester Peirce, or Chris Giancarlo.

Yesterday, BTC Spot ETF data revealed a net inflow of $396.7 million, driven by $404.5 million from non-GBTC sources, partially offset by a $7.8 million outflow from GBTC..

 for those who participated. To claim, visit 

 using code B0FKOP. Additionally, Morph Zoo Season 2 has launched on mainnet, allowing users to earn points by bridging ETH or executing transactions on Morph. The Bitget Wallet offers a 1.2x multiplier on points to maximize rewards.

Beginner

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SEC Chair Gary Gensler to Resign on Inauguration Day, Marking a Win for Crypto Lobby

Bybit Learn

DeFi

Explainers

Altcoins

NAVI is the first native one-stop liquidity protocol on Sui. NAVI users can provide liquidity to earn passive income or borrow assets using collateral.

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 (DeFi) has grown from a niche concept into a thriving multibillion-dollar industry, offering users unprecedented control over their financial assets. However, this rapid industry growth has highlighted the need for more efficient, secure and user-friendly solutions.

NAVI (NAVX) meets these demands with a comprehensive DeFi platform for lending, borrowing and earning passive income. This article explores NAVI's features, its role in the 

 ecosystem and NAVI’s empowerment of users through innovative tools like automatic leverage vaults and shared liquidity pools.

 is the first native one-stop liquidity protocol on the Sui blockchain. NAVI users can provide liquidity to 

 or borrow assets using collateral. The protocol leverages shared 

 and advanced features such as automatic leverage vaults to enhance capital efficiency and reduce risk.

NAVI Protocol was founded by Charles and Elliscope, technology veterans with experience at Apple and LinkedIn. They envisioned NAVI as a "web3 bank for Web 2.0 users," with kindness and open-mindedness at the heart of the company’s culture. The word 

, derived from Hindi, means "Be Kind to People," reflecting this ethos.

Drawing on their Silicon Valley expertise, the founders collaborated with top engineers to build a protocol prioritizing user-friendliness and security. Their mission was to create a DeFi protocol that could deliver the benefits of 

After evaluating various platforms, they chose the Sui blockchain for its enterprise-scale capabilities and innovative design. Sui’s object-focused programming model offers developers more flexibility than traditional account-based blockchains, making it an ideal foundation for the NAVI Protocol.

NAVI aims to democratize DeFi by offering a simple platform for lending, borrowing and managing digital assets. Its primary goal is to reduce barriers to entry, allowing users of all experience levels to engage in DeFi without needing technical expertise.

The protocol enhances capital efficiency with features like automatic leverage vaults and yield-bearing tokens, helping users maximize the potential of their assets. NAVI also prioritizes security by using advanced risk management tools, such as isolation mode and debt ceilings, to safeguard user funds.

Decentralized governance is another crucial aspect of NAVI's mission. Its 

, NAVX, allows token holders to vote on decisions and proposals, enabling them to help shape the protocol’s development. This ensures that NAVI remains a community-driven platform and supports a truly decentralized ecosystem.

NAVI operates through a shared liquidity pool system. For each supported asset, NAVI creates a pool where users can deposit assets and become liquidity providers (

), earning passive income in return for NAVI receipt tokens (e.g., 

). Lenders supply assets to the pools, while borrowers take loans by providing collateral. Borrowing limits are determined by a dynamic collateralization ratio, which adjusts based on pool supply and demand. Interest rates for lending and borrowing fluctuate according to market conditions.

A "health factor" continuously monitors the safety of each borrower’s position. If their health factor drops below 1, it signals that their collateral is insufficient to cover the loan, triggering a liquidation process. During liquidation, up to 35% of the borrower’s debt is repaid using their collateral, along with a liquidation fee.

To manage risk, NAVI implements advanced features such as isolation mode for introducing new assets, debt ceilings to limit borrowing and supply/borrow Limits. The protocol integrates 

 services to provide accurate price data for collateral, loan amounts and liquidation triggers, ensuring the system remains secure and reliable.

The NAVX token powers NAVI’s governance, allowing token holders to vote on proposals affecting interest rates, new assets and risk management parameters. Together, these mechanisms create a self-regulating DeFi ecosystem that supports efficient lending and borrowing while maintaining protocol safety.

NAVI offers a range of innovative features, described below, that are designed to enhance user experience and maximize capital efficiency.

NAVI offers a straightforward way for users to supply digital assets and earn passive income. By depositing assets into NAVI's liquidity pools, users can earn interest that fluctuates based on supply and demand. There are no minimum or maximum deposit limits. allowing users to manage their funds flexibly.

The protocol’s borrowing feature allows users to borrow cryptocurrency assets and obtain loans using their deposited assets as collateral. The 

 is dynamically adjusted to ensure borrowers don’t exceed their capacity and experience liquidation.

 mechanism to protect the protocol from default risks. If a borrower's health factor drops below a safe threshold (as mentioned above), their collateral is subject to liquidation. The liquidation process is managed through secure oracles that aggregate price data from multiple sources to ensure accurate pricing.

NAVI’s flash loan feature allows users to borrow assets without collateral, provided the borrowed amount is repaid within a single transaction. Flash loans create opportunities for 

, collateral swaps and other advanced trading strategies without requiring significant capital investment.

 is a liquidity management system designed for professional traders seeking enhanced features and tools. It offers deeper integration with trading strategies and access to leverage, making it suitable for users who require advanced financial tools within the DeFi space.

Volo is a feature that focuses on maximizing asset utility within the NAVI ecosystem. It enables users to leverage their digital assets to access additional yield opportunities, allowing them to engage in more sophisticated trading strategies with reduced risk.

Several key milestones have marked NAVI Protocol’s journey:

NAVI’s journey continues with several exciting milestones planned for the remainder of 2024:

NAVX, the native token of NAVI Protocol, is primarily used for governance. Token holders can vote on essential protocol decisions, such as interest rates, new assets and other vital changes that will shape the platform’s future.

NAVX also incentivizes liquidity providers, and offers staking rewards to encourage active participation. Users can provide liquidity to NAVX/SUI and NAVX/vSUI pairs on 

 (DEXs), and receive LP tokens. These tokens can then be locked for a certain period, making users eligible for rewards in NAVI's money market.

NAVX’s price outlook is closely tied to the growing adoption of NAVI Protocol within the Sui ecosystem. Initially launched at 0.021 $SUI, NAVX has the potential to see significant growth as DeFi continues to expand. As of Oct 15, 2024, the NAVI token is priced at $0.146.

While cryptocurrency price predictions are speculative, several price analysts have provided forecasts for NAVX:

These forecasts suggest a positive long-term outlook for NAVI, driven by its innovative features and growing role in decentralized finance. Ultimately, NAVX’s future value will depend upon the continued success of the NAVI Protocol, its integration within the Sui ecosystem and broader market conditions.

Looking to trade NAVI tokens? Bybit now offers the NAVX/USDT Spot trading pair for trading. To get started, you’ll first need to create a Bybit account, then fund with cryptocurrency and navigate to the 

To celebrate this listing, Bybit is holding 

 where you can earn a share of the 200,000 NAVX prize pool. 

Simply complete deposit or trading tasks listed on the Token Splash page to earn 100 NAVX. Please note that rewards are limited to the first 2,000 new users.

Evaluating NAVX as an investment involves considering both its strengths and potential risks.

In summary, NAVX offers promising potential, but its future success hinges on the growth of NAVI Protocol and the evolving DeFi ecosystem. Investors should weigh the risks and 

NAVI is a promising DeFi protocol that aims to revolutionize the lending and borrowing market. With its unique features, such as algorithmic-based interest rates and liquidity incentives, NAVI is poised to significantly expand DeFi accessibility and functionality within the growing Sui ecosystem. 

Whether you’re a user looking to earn passive income through staking or a trader seeking high-yield opportunities, NAVI offers versatile solutions for everyone in the rapidly growing world of decentralized finance.

NAVI (NAVX): Understanding Sui's One-Stop Liquidity Protocol

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