1. A Network Interface (NI) device, comprising: a host interface, which is configured to communicate with a host processor and a host memory of a node of a network; a network interface, which is configured to be coupled to the network; and circuitry, which is coupled between the host interface and the network interface and is configured to: execute operations prescribed by work queue entries from multiple work queues that correspond to transport channels between the node and one or more peer nodes on the network, when a wait work queue entry in a specific work queue of the multiple work queues is executed, halt advance of the specific work queue, while continuing to execute operations prescribed by work queue entries from others of the multiple work queues, until a condition dependent on a value is met; and resume advance of the specific work queue so as to enable execution of operations prescribed by work queue entries in the specific work queue, responsive to identifying that the condition dependent on the value is met.