Aptos-centric credit layer Moar Market plans to “leverage everything” and “supercharge” yields
Aptos Weekly Overview - September 26, 2024
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By The Numbers
Aptos transactions this week: 15M (+3.8%)
Network transactions per second (TPS): 24.8
Active users: 1.5M (+51.8%)
New users this week: 760K
Total staked APT: 860.06M (-0.2%)
Aptos total value locked (TVL) as of Sept. 26: $561.68M (+31.5%)
NFT weekly sales: 1.7K (-44.3%)
The percentages and metrics are based on a 7-day timeframe from Flipside data as of Sept. 23, unless noted otherwise.
Inside the blockchain
🌐What happened: Moar Market announced it will launch its leverage trading credit layer on Aptos, in Q4.
🌐Why does it matter: Moar Market’s credit layer is powered by Move and aims to enhance capital efficiencies across the Aptos ecosystem and “leverage everything,” its blog post said.
In addition to this, the startup will launch a margin trading DEX that utilizes its credit protocol and provides up to 25 times the leverage on trades.
The protocol aims to be applicable in the near future across “nearly all primitives” ranging from restaking applications to RWAs, AMM LP Pools and more.
Moar Market shared in the Medium post it will integrate Aptos-based DeFi protocols like ThalaSwap and LiquidSwap so users can access loans and manage leveraged positions across multiple applications.
It also is bringing “Composable Leverage” to the Aptos ecosystem, which means users can get credit, up to 25x, then apply it across DeFi protocols, the company stated in a blog post. “The Credit Layer will supercharge existing yields and unlock previously impossible yield strategies.”
The project is incubated by Thala Labs and Aptos Foundation’s DeFi Fund and received a grant for product development and audit of its credit protocol.
🌐The big picture: For the broader Aptos ecosystem, the introduction of Moar Market’s credit layer could signal increased demand for DeFi protocols that look to drive liquidity and user engagement.
If Moar Market rolls outsafe, composable leverage strategies and products, it could set a precedent for other protocols looking to leverage the Move programming language.
Additionally, it could enhance other DeFi protocols that can create a domino effect, spurring further innovation across the Aptos network and their participation in DeFi.
Ecosystem wins
Joule Finance, a liquidity hub for the Aptos network, hit 14.7K total transactions and $2.62M TVL, according to Flipside data
Aptos Labs entered a strategic partnership with NTROi to develop blockchain-powered gaming experiences
Check out movefmt, a formatting tool for Move, developed by MoveBit in collaboration with Aptos Labs
Aptos Labs cofounder hints that more “internet-scale blockchain infrastructure” is coming to the network
Aptos TVL hit $561M in TVL, marking an all-time high for the network (shown below)
Source: DefiLlama
The community is makin’ Moves
“Aptos After Dark” hosted a chat with Pixel Pirates and Hair Tokens, two projects building on the Aptos network
Learn more about Poseidon and its social finance platform built on the Aptos network in an X space hosted by SpooksLab
Flipside Analyst Cristinatinto created a dashboard that shows a metric-driven overview of memecoins on Aptos
X user 0xafonso created a thread that dove into Aptin Finance, a DeFi protocol on the Aptos network
Relive Aptos Experience on Youtube in case you missed it
By the headlines
You might have seen these Aptos-related headlines recently…
Let’s Talk About Move (Aptos Labs’ Head of Ecosystem Neil H on X)
Aptos Foundation Partners with Nvidia-backed Ignition AI (The Defiant)
Foresight Ventures announces multimillion-dollar investment in Aptos to accelerate ecosystem growth (The Block)
Aptos Labs Joins the Tokenized Asset Coalition (Financial Post)
Nansen published an H1 2024 report on Aptos—highlighting its rapid growth, technical advancements and strategic partnerships across the ecosystem
Join in the fun
Want to dive into the ecosystem full-time? Find the latest job postings on Aptos Foundation here.
Listen in to Aptos’ All Access space on X that featured projects building on the network
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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.