Aptos marks 2 year mainnet anniversary by doubling down on DeFi vision
Aptos Weekly Overview - October 17, 2024
Welcome back to Aptos’ Weekly Overview. The best place for Aptos community members to get up to speed on the chain’s latest updates, metrics, releases, insights, ecosystem developments and more. All in one place.
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By The Numbers
Aptos transactions this week: 25.6M (-6.5%)
Network transactions per second (TPS): 42.3
Active users: 2.4M (+19.3%)
New users this week: 1M
Total staked APT: 849.04M (+0%)
Aptos total value locked (TVL): $721.6M (+12.4%)
NFT weekly sales: 2.5K (-21.1%)
The percentages and metrics are based on a 7-day timeframe from Flipside data as of Oct. 14, unless noted otherwise.
Inside the blockchain
🌐What happened: Aptos kicked off celebrations for the 2-year anniversary of its mainnet launch with Aptos Labs team members and ecosystem partners recapping the network’s latest and future developments during an X space.
🌐Why does it matter: Aptos began as a platform to help move money with less friction, Aptos Labs’ co-founder and CEO Mo Shaikh said on the X space. The chain wants to have a huge impact on the broader economy by making payments faster and more reliable, with the hopes of keeping up with and improving the growing demand of digitization.
Shaikh also emphasized Aptos Labs'’ role in the expansion of stablecoins on the network. The team recently partnered with Tether to launch USDT on the Aptos network. In general, stablecoins can streamline payment systems by reducing friction in cross-border payments and enabling real-time settlements at a fraction of the cost. This directly aligns with Aptos’ focus on payment systems.
Aptos Labs’ CTO Avery Ching said a big focus for the network is user latency, which is the time it takes for a transaction to be completed. A big part of mainstream adoption is being able to deliver products that people are already used to. Ching said the payment speeds on Aptos are comparable to the time it takes a website to load. If Aptos can continue to offer fast speeds, it can become a leader in blockchain-based payment options.
Aries Markets also shared its experience building on Aptos and how its margin trading tool plays into the network’s vision of offering seamless trading experiences. A big part of onchain finance is the trading aspect, so Aries’ goal of creating an onchain order book with fast speeds is something that aligns directly with Aptos’ vision.
🌐The big picture: Aptos Labs’ wants to continue creating an ecosystem that can be a secure home for DeFi builders. Many projects decided to choose Aptos as their network to build on as a result of its strong focus on payment systems and onchain finance use cases.
The space showcased other ecosystem projects such as Kana Labs, SuperVillain Labs, Amnis Finance, Petra Wallet, mirage protocol, Aave, KYD Labs, Nameless, and Franklin Templeton.
All of these projects utilize Aptos’ features to offer different use cases that tie back to onchain finance. As Aptos continues to innovate its network to offer faster finality and transaction speeds, it can directly impact these ecosystem projects and their development.
A big battle cry for Aptos Labs is to create for the community. By developing a network the community can use, it can allow for the growth of more projects and innovative use cases.
Ecosystem wins
Stablecoin marketcap on Aptos hit $260M, a 52% increase since the network’s integration with Tether
Echo Protocol, a bitcoin liquid restaking layer on MoveVM, hit $163.1M in TVL, according to DefiLlama data
The Aptos network hit an all-time high of $729.46M in TVL on Oct. 14 (shown below)
The community is makin’ Moves
ICYMI: Hear from the co-founders of Econia Labs, an onchain trading platform powered by Aptos
Team members from Merkle Trade shared updates from the past month
Learn more about the various Move based blockchains in this thread by X user DMFVentures
By the headlines
You might have seen these Aptos-related headlines recently…
Aptos blockchain explained: Technology, use cases and prospects (Cointelegraph)
Layer 1s - Coverage on Sui, Aptos, TRON and TON (ON-280)
Aptos Interview: Layer 1s, Move, ETH FUD, Exciting Projects & More! (Coin Bureau)
Join in the fun
Want to dive into the ecosystem full-time? Find the latest job postings on Aptos Foundation here.
Listen to the most recent “Aptos After Dark” community-driven space that covers projects building on the Aptos network
BlueMove opened applications for its incubator program aimed to support memecoin projects on Aptos
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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.