Aptos: The home of high-performance DeFi
On October 18, 2022, the Aptos mainnet was launched, marking another important development in Web3Blockchain's appearance. Today, the Aptos mainnet has been running for one year. Aptos is a constantly iterating and growingBlockchain, engineers will continue to optimize performance, reduce costs, enhance decentralization andSafetysex. From 2022Bixin VenturesThe results achieved by investing in Aptos so far give us reason to believe that Aptos is one of the best choices for DeFi projects.
Main points
1.DeFi shows a more open and efficient model and is the future of finance
DeFi impacts and replaces traditional finance by improving financial operating efficiency and democratizing assets, and will have huge opportunities in future development.
2. Aptos uses the Move language. According to the roadmap, it will achieve 160,000 TPS and a final block of less than 1 second. It is also low-cost and suitable for Defi deployment.
Use developer-friendlyMove language,passParallel execution, Diem-BFT consensus and other innovations will achieve 160,000 TPS and a final block of less than 1 second according to the roadmap, with a fee of less than0.01 cents/pen. Aptos has the lowest latency and highest throughput on the market.Blockchain(from Messari)
38,500 Followers and 200+ projects are developed on Aptos. The complete and robust infrastructure supports the development of DeFi.
AptosCommunityThe number of fans has reached 850,000, andwallet, browser,SafetyAudit, Bridge, domain name, etc.basic toolsAllows developers to develop and deploy DeFi applications more conveniently
4. Multiple high-value Grants programs to support DeFi and other types of projects
Foundation Grants ProgramWith the recent launch of Registry ProgramIt has also started, and the Registry Program provides many opportunities for developers on Aptos. Meanwhile, there are more DeFi reward programs, including those launched by Aptos and Google CloudAcceleration program, and the DeFi incentive program launched by Aptos and Thala Thala Foundry
5. There are already a large number of well-known DeFi deployments
For users, currentlyA large number of DeFi projects have been deployed,for example Pancake,Thala,Amnis Finance,Merkle Tradeetc., and there are also things likeSushi,EconiaWill launch their mainnet in Q4
1. DeFi with unlimited potential
We all know that Web3 will change the way the world uses the Internet. But this is an area where decentralized finance is particularly revolutionary, promising to upend the opaque, centralized traditional financial system that has been built over decades.
1.1 CentralizationexchangeThunderstorm events make people turn to DeFi
in centralizationexchange, the user needs to keep the funds in custody within the platform, that is, the user transfers the ownership of the assets to the platform. From a legal point of view, it is equivalent to lending the assets to the custody platform, and the user is the creditor of the platform. due to centerXiaobai NavigationThe attributes of centralized operations also make people aware of the potential risks of centralized exchanges.
Why do users turn to DeFi? First, it is an assetSafetysex. The emergence of DeFi allows users to control their own assets by holding private keys, which means that no one can misappropriate their funds.SafetySex has been greatly improved. Secondly, users can enjoy a certain degree of privacy because they do not need to provide personal information,walletSeparated from your true identity. Third, users can experience and use a variety of Defi applications on the chain, such as DEX, stablecoins, Perp, Lending, on-chain payments, income aggregators, Liquidity Staking, etc.
1.2 As of 2021, there are still 23.8% adults in the world without bank accounts.
As of 2021, according to World Bank data, the number of people over the age of 15 with bank accounts or mobile accounts in the world only accounts for 76.2% of the total population, which also means that there are still 23.8% of the world's population (15 years old+) who still do not have access to financial services. at the same time,2023 World Bank Annual ReportThe report pointed out that it is expected that 574 million people will still be in extreme poverty by 2030. Although there are many factors leading to poverty, the lack of financial services is one of the important reasons.
Source of the proportion of the global population with bank accounts in 2021:World Bank Database
Based on the above reasons, we believe that the development of DeFi is not short-term, but will show a long-term positive development trend. In fact, as of October 24, 2023, DEX's 24H transaction volume was US$5 billion. Although it only accounted for 1.7% of the total transaction volume, it increased by 42% compared with the average daily transaction volume of US$3.5 billion in 2022. At the same time, the average monthly trading volume of DEX has also exceeded 10 billion US dollars.
Source of DEX average monthly trading volume:Defillama & A16Z
As the basic transaction currency of DeFi, stablecoins have also shown a trend of rapid growth. So far, the issuance scale has exceeded 120 billion US dollars. This also proves that people need a decentralized dollar asset with stable value.
Source of on-chain stablecoin issuance scale:The Block, Coin Metrics, DeFillama
The development of DeFi with such potential will inevitably require aSafetyA public chain that is reliable, has superior performance and is low-cost. Reliable and innovative DeFi applications will be cultivated on this public chain. We believe that Aptos is the public chain with the most potential in the next wave of DeFi innovation.
2. Aptos is ready for the next wave of DeFi growth, and its upgradeable features ensure that Aptos continues to iterate
In the early stages,Aptos technology stackMade up of the top 30 members of the Meta teamBlockchainEngineers designed it, and over the next three years, there were a total of 292 developers and dozens ofCommunityParticipate in the development of the protocol andProposed improvements. Aptos compared to othersBlockchain, has more obvious advantages in terms of security, scalability, cost, decentralization, and infrastructure, and is especially suitable for DeFi applications with large user participation and high value content.
It should be pointed out that since the mainnet was launched, the Aptos team has been very focused on smartcontractMonthly upgrades are implemented, and the team works with developers, listens to needs, and proactively addresses those needs through assistance. Therefore, it will be a process of continuous improvement and iteration in terms of performance, cost, decentralization, ecology, etc. It can be expected that Aptos will undergo huge changes in the next few months or years. existAptos improvement proposal (AIP), you can see for yourself the sheer number of updates that have been made so far.
2.1 Move language & Diem-BFT consensus can ensure that DeFi is secure enough
Aptos is different from other blockchains, but takes a different approachMove language, to ensure that the blockchain is sufficiently secure. Move language is a language specially built for digital assets and is defined for digital assets through Resource. At the same time, four attributes of resources are abstracted: copyability, indexability, discardability, and storability. Through different combinations of these four attributes, users can easily define any type of resources. In addition, the Move language also has verifiability, flexibility andcontractcomposability.
The security of Move language is reflected in that, first of all, Move language provides code verifier and VM-level protection to avoid modification and attacks by other programmers. Because during design, no blockchain-specific content was added to the core language. In addition, Move Prover is used to prevent errors in the process of writing smart contracts. In summary, the Move language is designed specifically for smart contract development. The Move language changes the rules of building Dapps by combining simplicity with security.
In addition, the team also designed a high-performance, low-latencyBFT engine, 4 iterations have been implemented so far. As long as the BFT validator nodes ensure honesty, the Aptos chain will not be forked, whether the network is inaccessible or non-secure core components are compromised in some way. The security of the consensus protocol is also improvedReviewandverify.
Since the Aptos mainnet was launched, more than 100 million blocks have been produced. In addition, in July this year, the weekly user transaction volume on Aptos also reached 4.9 million and continues to rise.
Since the launch of Aptos mainnet, more than 100 million blocks have been produced. Source:Aptos Explorer
We believe that DeFi, as the value cornerstone of the Web3 world, must rely on a sufficiently secure underlying public chain, and Aptos is one of the most correct choices for the DeFi development team.
2.2 160,000 TPS, final block less than 1 second, and transaction fees less than 0.01 cents/transaction, supporting a large number of DeFi users
Currently, the actual TPS of most blockchains is as low as double digits. But if DeFi applications want to achieve adoption by millions or tens of millions of users and average daily transactions of tens or hundreds of billions, the underlying public chain must have extremely high throughput and extremely low latency. . If the throughput of the public chain itself is not enough, it will greatly limit the development of DeFi.
Aptos decouples consensus and execution andParallel execution, Diem-BFT consensus and other innovations have been realized160,000 TPShigh throughput. This performance ranks first among the current mainstream public chains, and is significantly higher than Ethereum. L2 performance. 160,000 TPS also gives DeFi applications a broader space for development.
Aptos compared to other L1/ L2Has extremely high throughput source: official website or Explorer
Block time is also one of the main factors for DeFi developers to choose which public chain to deploy. Aptos can currently achieve a block time of less than 1 second, and will alsokeep improve. according toMessariAccording to , Aptos is the lowest latency and highest throughput blockchain on the market today.
Source of Aptos’ actual block time below 1 second:Aptos Explorer
Mainstream L1/ L2Source of final block time: Explorer of each public chain
Compared with centralized finance, expensive transaction fees often hinder the adoption of DeFi users. Through the continuous efforts of the Aptos team, such asSeparate execution fees and storage fees and support storage fee refunds, has currently achieved transaction fees of less than 0.01 cents/transaction, significantly reducing transaction fees for DeFi users.
Sources of transaction fees below 0.01 cents/transaction:Aptos Explorer
2.3 There are 113 validators in 50 cities in 25 countries around the world, allowing DeFi to achieve sufficient decentralization.
One of the core narratives of Web3 is decentralization, and Aptos has also done a lot of work in this regard to attract more verification nodes to join the Aptos ecosystem. Fortunately, as of October 25, 2023, Aptos has implemented 113 verification nodes, located in 50 cities in 25 countries around the world, with a total value of more than 5 billion US dollars, and a total of 886,683,319 APTs are pledged in the network. Verifiers The number and geographical distribution of nodes ensures the decentralization and security of the network.
In future development, Aptos will also attract more nodes to join, making the Aptos network more decentralized and secure.
Validators around the world Source:Aptos Explorer
2.4 850,000 Followers and 200+ projects are being developed on Aptos, and the complete infrastructure supports the development of DeFi
The development of DeFi applications is inseparable from the ecology of the public chain. AptosCommunityThe developer community has a huge base. Currently, the total number of following users on Twitter, Discord, Medium, Telegram and other media reaches 850,000, and continues to grow. There are more than 200 monthly active developers in the ecosystem, and great companies like Microsoft, Google, Mastercard and Franklin Templeton have also cooperated with Aptos.
Although the number of monthly active developers has declined since the beginning of this year due to pessimism, it has increased significantly compared to the beginning of 2022. And we believe that as Aptos continues to upgrade and optimize the public chain on a monthly basis, more and more developers will join.
Source of monthly active developers on Aptos:Developerreport
existInfrastructure, Aptos already haswallet,Browser,development tools,security audit,Bridge,domain nameand other different types of projects. DeFi developers can directly cooperate with other projects in the community, greatly reducing the cost of acquiring partners.
During Token20249,Aptos announces partnership with Google Cloud, including running validators on Google Cloud, co-organizing accelerators and hackathons, focusing on supporting the developer ecosystem on Aptos.
at the same time,Aptos partners with MicrosoftExplore digital payments and assets togetherTokenization, in addition to this, Aptos will also leverage Microsoft’s Azure OpenAI Serve. Using Azure OpenAILater, Aptos will launch Aptos Assistant, a secure and user-friendly digital assistant that can answer Aptos-related questions.
3. Multiple high-value Grants programs to support DeFi and other types of projects
In order to encourage more projects to join the Aptos ecosystem, Aptos Foundation launchedInfrastructure and Application Grants, to inspire Develper Toolings, SDKs, Libraries, Documentation, Guides, DeFi, NFT, Gaming and other applications, through AptosApply for a linkJust submit an application. Grants range from US$5,000 to US$50,000. RegistryThere are already 7 projects listed that will be deployed on Aptos.
againstartist group, Aptos launched Artist Grant Program, designed to support the next generation of artists in the Web3 world.
In addition, Aptos has also established a partnership with Google Cloudaccelerator program, this plan aims to supportweb3Entrepreneurs and developers, outstanding projects will receive APTTokenRewards and Google credits.
Most recently, Aptos and Thala announced their launch in September this year$1 million fund, used to stimulate the development of native DeFi on Aptos, and as the supported native DeFi projects go online and grow, the fund size will be expanded to US$5 million. Each project can receive a maximum reward of US$250,000. In addition to receiving bonuses, 5 outstanding projects will also receive GTM guidance, development assistance, investor introductions, etc. Come andApplyBar.
4. A large number of well-known DeFi have been deployed on Aptos
Currently, it is displayed on the Aptos official website23 Defi apps,include Pancake,Thala,Merkle Trade,Amnis Finance,Sushi,Econiawait.underare some additional items.
DeFi project sources on Aptos:Aptos Ecology
Sushi is a DeFi project that we are very familiar with. It is the first Non-EVM version.Sushi V2It will be deployed on Aptos in the coming weeks. Before cooperating with Aptos, Sushi was deployed on EVM chains such as Ethereum, Polygon, Arbitrum, and BNB Chain. This cooperation also represents the cooperation between EVM-based DeFi applications and Move-based public chains, which will help promote Sushi’s cross-chain and multi-chain development. Chain goals are crucial and have milestone significance.
Econia implements an atomic matching engine that leverages Aptos’ sub-second finality to clear trades the moment they are entered. From spot trading to leveraged perpetual futures, Econia pools liquidity for maximum capital efficiency.EconiaSecure, decentralized, permissionless, fully on-chain and always open source, it is the foundational layer of the next generation of DeFi and the ideal settlement engine for any digital asset.
In order to support the development of Defi projects, Aptos Labs also participated as a supporterSeed round($6.5 million) in financing. Econia will be launched in November with 4 different front ends (Kana,Pontem,Aries,SwapGPT).
Merkle Trade is a decentralized trading platform for crypto assets, foreign exchange and commodities using a fund pool model, with leverage up to 1000 times. Its goal is to become the largest decentralized leverage trading platform and provide every user with a pleasant trading experience. .
Compared with other AMMs,Merkle TradeThe first feature is to provide a gamified experience, where users can accumulate experience points in transactions and improve their ranking on the leaderboard, while unlocking loot. Another feature is the provision of FX and commodity trading pairs, andForex trading pair feesFor as low as 0.0075%, users can trade 3 assets on one platform.
At present, the mainnet of Merkle Trade has been launched, everyone is welcome to experience it, and there are moreawardWaiting for everyone.
Merkle Trade’s trading interface source:Merkle Trade official website
Thala is the native DeFi protocol on Aptos and has now been launched on the mainnet. Thala has two products: stablecoin (Move Dollar) and AMM (Thala Swap). Move Dollar (MOD) is generated by over-collateralization of a basket of on-chain assets. The supported assets include LSD derivatives, LP Tokens, Deposit Receipt Tokens and RWAs.
Thala Swap is an AMM that can realize dynamic adjustment of LP and supports Weighted Pools, stable currency pools, LP bootstrap pools, etc. Thala Swap can expand the usage scenarios of MOD stable coins. In addition, LaunchPad, built on Thala Swap, can provide individual users with a way to participate in projects early.
In October last year, Thala announced its completion$6 millionfinancing. In September this year, Thala and Aptos jointly launched a $1 millionDeFi Incubation Program, and also welcome the DeFi teamApply.
Amnis Finance is a Liquid Staking project similar to FRAX, providing staking income of up to 7%. The model of Amnis Finance is similar to Pendle, which is to package the income asset (stAPT) into SY (standardized income token), and then split the SY token into the cost part and the income part, respectively PT (principal token) and YT ( Revenue Token), a process in which revenue is tokenized into a separate token.
Amnis FinanceMainnetCurrently online.
Amnis Finance staking page source:Amnis Finance official website
Join nowAptos EcologyDevelop great Web3 applications! Please pay attention to AptosTwitter,Medium, and noteJob OffersJobs in it!Bixin VenturesWe will also continue to support Aptos’ ecological expansion in the Asia-Pacific region.
The article comes from the Internet:Aptos: The home of high-performance DeFi
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