Thala Labs roadmap signals major DeFi expansion for Aptos users
Aptos Weekly Overview - May 23, 2024
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By The Numbers
Aptos transactions this week: 12.6M (+6.5%)
Network transactions per second (TPS): 20.8
Active users: 495.7K (+39.5%)
New users this week: 292.3K
Total staked APT: 849.9M
Aptos total value locked (TVL): $358.6M (+4.1%)
NFT weekly sales: 43.9K (-40.5%)
The percentages and metrics are based on a 7-day timeframe from Flipside data as of May 20, unless noted otherwise.
Inside the blockchain
🌐What happened: Thala Labs 2024 roadmap signals expansion into tokens and real world assets beyond the Aptos ecosystem.
🌐Why does it matter: About a year ago, it began with a “simple vision” of being a DeFi HyperApp and Liquidity Engine, aka a powerhouse for decentralized financial activities, through using Aptos’ Move programming language.
It grew to become one of the biggest ecosystem projects on Aptos, hitting a peak TVL of $250 million, currently at $127 million, according to DefiLlama data. It has also enabled over $535 million in cumulative volumes through its automated market maker Thalaswap and about 6 million in APT tokens for liquid staking.
Now, Thala wants to expand DeFi operations on Aptos to improve the collateralization, trading and leveraging of cryptocurrencies and real world asset tokens, the company said in a blog post on Wednesday. In addition to expanding its current DeFi product suite, the platform plans to grow in new product and integration verticals at the “opposite ends of the spectrum” through speculative and highly leveraged products and real world assets and adoption.
🌐The big picture: The Aptos ecosystem is less than two years old and is “highly nascent,” Thala said. But the chain’s core Move infrastructure makes it fast, scalable and ready for millions of users to onboard. Thala’s roadmap is ambitious, but plans to shift complexities away from users and make the onchain experience more friendly.
Ecosystem wins
TruFin Protocol launched its TruStake product on Aptos, bringing institutional-grade DeFi to the network
DeFi and GameFi superapp Kana Labs reached a new 24-hour volume milestone at $4.83M
Aptos DeFi ecosystem is expanding as Aptin Labs has over $100M in total supplied volume with about $26M in use, Flipside data analyst shared on X
Aptos Labs Head of Ecosystem shared on X why developers like building with Move on Aptos: “Once builders get a taste of Move, it's like they're hooked on phonics”
The community is makin’ Moves
AI launchpad MoveGPT made a Move with Aptos and is bringing its incubated platform and voter-based token MGPT to the chain
Aptos Labs partnered with CRIPCO to launch WARP3, a platform to bridge web2 and web3 intellectual property aggregation, curation and payments
“The future of DeFi is happening rn on Aptos,” the blockchain’s co-founder Mo Shaikh said on X in response to Thala Labs’ incubated lending protocol Echelon passing $50M TVL last week
AIP-41 and AIP-79 are bringing onchain randomness to Aptos, X user Apt_everstake explains what this means and how it helps Aptos
By the headlines
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Listen in: Starting an L1 from scratch with Mo Shaikh (a16z crypto)
The Block launched onchain metrics for Aptos highlighting user transactions on the network, active addresses, daily transaction fees and more
Join in the fun
Want to dive into the ecosystem full-time? Find the latest job postings on Aptos Foundation here.
Have a startup? List your company’s open roles on the Aptos Ecosystem Job Board
Replay: SPOOKS held a X space with Petra Wallet and others on how to onboard users into web3, listen in
Join Aptos World Tour 2024 in Vietnam: June 7-8 for GM Vietnam 2024
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This information is for entertainment purposes only. It should not be considered financial advice, nor should it be used to make investment decisions. Cryptocurrencies are high risk and you should consult a financial professional before making any financial decisions. Make sure you do your own research.