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: 31.6M (+1.28%)
Network transactions per second (TPS): 48.93 (-10.68%)
Daily active users: 791.2K (+8.65%)
Aptos total value locked (TVL): $975.53M (-5.1%)
Aptos stablecoin market cap: $1.35B (+10.47%)
The percentages and metrics are based on a 7-day timeframe, unless noted otherwise.
Inside the blockchain
🌐What happened: Echo Protocol launched its token generation event (TGE) last week, marking a pivotal milestone for the BTCfi protocol.
🌐Why does it matter: Traditionally, TGEs are a critical for web3 projects as the launch of native tokens can incentivize user participation and fund ecosystem development. In addition, TGEs can also enhance project visibility, foster community engagement and provide liquidity for DeFi integrations by distributing tokens to various groups like platform users or marketing funnels.
In Echo’s case, it's TGE introduces the ECHO token, which is designed to encourage user participation, facilitate governance decisions and enhance liquidity for its bitcoin-backed token, aBTC. In turn, Echo hopes to drive more growth of BTCfi on Aptos.
It’s also a participant of Aptos Foundation’s LFM program, which provides resources and mentorship for projects gearing up for TGE. This event marks its graduation date and underscores Echo’s role in turning bitcoin into a productive, onchain asset that also drives liquidity and composability across Aptos-native protocols.
Looking ahead, Echo Protocol plans to continue its role as a leader in the BTCfi ecosystem on Aptos by expanding bitcoin’s utility and deepening ecosystem integration. As the leading protocol on Aptos by TVL with more than $271 million, the launch of the ECHO token provides another avenue for increasing liquidity and user adoption. The protocol plans to integrate Aptos-native DeFi projects like Thala, Cellana and Joule to enhance aBTC’s composability and yield opportunities.
🌐The big picture: As BTCfi gains traction, driven by the demand to harness bitcoin’s $2.2 trillion market cap for DeFi applications, Echo’s aBTC and ECHO can provide the asset more utility.
The facilitation of common DeFi features like lending, staking and liquidity pools can evolve bitcoin from a passive store of value to a dynamic, yield-generating asset
Collectively, Echo looks to align itself with the broader BTCfi trend seen across web3, where protocols are unlocking bitcoin’s potential. However, by leveraging Aptos, it creates a model for scalable bitcoin liquidity, fostering interoperability and composability.
The ecosystem is makin’ Moves
PACT Protocol total value rose 88.9% on the month to $419.82M, RWA.xyz data shows
MofuMofuMC, an anime-inspired ecosystem created by TOHO and Salt Sweet, shared a roadmap for its upcoming NFT collection and platform
Hear from the Tapos team about its upcoming developments and how they view gaming on Aptos
Learn about Sentio, an infrastructure platform designed to provide developers monitoring and debugging insights
Read about Panama and why the team created a fast-paced predictions market on Aptos
Lighthouse launched Lightscan for users to view wallet positions across Aptos and various projects
Watch the latest YAPT episode by Aptos Labs’ Haley and Aptos Foundation’s Alix to learn about recent ecosystem developments
Aptos network wins
RWA value on Aptos reached $557.5M and is the third highest blockchain in this category, RWA.xyz data shows
Aptos recorded an all-time high in daily DEX volume of $255.09M on July 9, according to DefiLlama data
Yellow Card collaborated with Aptos Labs for its customers to transfer stablecoins instantly with no gas fees across Africa
Aptos Labs co-founder and CEO Avery Ching joined the CFTC Digital Asset Markets Subcommittee
USDT supply on Aptos hit $940.6M on July 7, an all-time high for the asset on the network (shown below)
Source: Artemis
Join in the fun
Want to dive into the ecosystem full-time? Find the latest job postings on Aptos Foundation here.
Sign up for Aptos Experience in NYC from October 15-16
OKX Wallet is hosting its Cryptopedia campaign featuring $263K in Aptos rewards for users that engage with ecosystem dApps
Learn about Panora Flows trading and social campaigns to earn Aptos rewards
Participate in Galxe’s social campaign with various Aptos ecosystem projects
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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.