DeFi
Discover the best DeFi protocols on the Aptos blockchain
The DeFi ecosystem on the new Aptos blockchain is growing. Let’s explore the best trading, liquid staking, and lending platforms.
Aptos TVL is linked to APT price increase
The Aptos blockchain has been on fire in 2023with the value of its original part $TAP It nearly hit $20 last week and its market cap now stands at over $2.7 billion, making it one of the top 30 cryptocurrencies.
Alongside the rise of $APT, blockchain Total Value Locked (TVL) has also increased in U.S. dollar terms and now stands at more than $75 million, according to Llama Challenge.
However, in terms of $APT, the chain’s TVL peaked on December 30 at 17.54 million $APT and has since dropped sharply to the current $4.4 million APT.
Let’s take a look at some of the best ones Decentralized Finance (DeFi) protocols on Aptos:
Decentralized Exchanges
1. PancakeSwap
- TVL: $37.1 million
- Change over 7 days: +15%
- Variation over 1 month: +36%
- Notes: The dominant BNB Channel DEX has taken Aptos by storm, accounting for almost half of the channel’s TVL in total.
2. AUX exchange
- TVL: $11.8 million
- Evolution over 7 days: +2%
- Variation over 1 month: -36%
- Notes: AUX retained its position as Aptos’ top native DEX, but its share of channel TVL suffered from the rise of PancakeSwap.
3. LiquidSwap
- TVL: $9.1 million
- Change over 7 days: +6%
- Evolution over 1 month: +10%
- Notes: LiquidSwap was the first Automated Market Maker on Aptos, and its TVL has remained fairly stable since November.
Liquid Staking
1. Turtle
- TVL: $10.7 million
- Change over 7 days: +25%
- Evolution over 1 month: +243%
- Notes: Tortuga and its rival liquid staking platform Ditto have been popular protocols since the first APT coin airdrop, at a time when there were no decentralized cross-chain connections and limited DeFi utility. Tortuga has assumed and maintains the position of the dominant liquid staking platform over Aptos to this day.
2. Same
- TVL: $2.3 million
- Variation over 7 days: -4%
- Evolution over 1 month: +140%
- Notes: Although Idem is far behind Tortuga, it has also seen a significant increase in TVL as well as the increase in $APT value.
Ready
1. Abel Finance
- TVL: $1.8 million
- Change over 7 days: +56%
- Evolution over 1 month: +57,899%
- Notes: Abel Finance, which emerged from Compound, is a relatively new entrant that saw considerable growth in its TVL in the second half of January, both in USD and APT terms.
2. Aries Markets
- TVL: $1.4 million
- Change over 7 days: +39%
- Evolution over 1 month: +122%
- Notes: Aries Markets’ TVL has been steadily increasing since Aptos’ debut in USD terms. However, in $APT terms, the lending platform’s TVL peaked around early 2023, although it has leveled off somewhat over the past couple of weeks.
What is Aptos:
Aptos is a new independent project aimed at providing the most secure and production-ready Layer 1 blockchain in the world. The team includes the original creators, researchers, designers, and builders of Diem, the blockchain that was designed to serve this purpose.