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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Aptos transactions this week: 27.7M (-3.7%)
Network transactions per second (TPS): 45.7
Active users: 4.6M (+2.5%)
Total staked APT: 876.54M (-0.3%)
Aptos total value locked (TVL): $947.1M (-2.7%)
NFT weekly sales: 781 (-33.2%)
The percentages and metrics are based on a 7-day timeframe from Flipside data as of Feb. 24, unless noted otherwise.
🌐What happened: Ethena Labs integrated Aptos to bring USDe, the third-largest stablecoin by market cap, to the network.
🌐Why does it matter: Ethena’s integration with Aptos expands the network’s accessibility of dollar-backed assets. This marks the sixth stablecoin to launch on Aptos, further expanding its stablecoin ecosystem.
Unlike traditional stablecoins, which typically have fiat reserves, USDe maintains its peg through “delta-neutral hedging strategies” in crypto markets. Delta neutral is a fancy term for a financial strategy that aims to remain stable when the underlying asset, in this case crypto collaterals, changes.
For context, USDe is the third largest stablecoin by market cap at $5.9 billion, according to CoinMarketCap. Alongside USDT and USDC support, this means Aptos supports the three largest stablecoins by market cap. Thus showcasing Aptos’ ability to expand options for users in the DeFi sector.
In Aptos’ case, the USDe integration gives users more options for their liquidity and the ability to earn yield. This is also shown through protocols such as Thala Labs and Echelon, which are already integrating USDe to its trading pools for lending opportunities.
🌐The big picture: Since stablecoins are foundational to DeFi and blockchain-based financial applications, this integration can be seen as a way to provide more accessibility for users and developers alike. By incorporating USDe, Aptos can strengthen its stablecoin ecosystem and enhance the way its users interact with DeFi protocols.
A large number of options also let aspiring Move-developers that are looking to build DeFi applications or payment solutions access a deeper liquidity pool. This is because lending protocols contribute to the overall liquidity on a network and if they integrate USDe, it can increase activity.
Bitwise registered for an Aptos ETF entity in Delaware, according to its registrations portal
KGeN hit 1.5M unique active wallets for its gaming ecosystem platform, DappRadar data shows
Emojicoin added new features to its memecoin platform, highlighting top holders and portfolio viewing
Ondo Finance reaches new high for TVL on the Aptos network at $16M on Feb. 26 (shown below)
Source: DefiLlama data
Aptos Co-Founder and CEO Avery Ching spoke with the founder and CIO of Cyber Capital about Aptos and it’s goal to become the fastest blockchain
Circle hosted a livestream with Aptos Foundation’s Head of Ecosystem Ash Pampati and DeFi Growth Lead Jay Lin about USDC on the network
Amnis Finance integrated with Hyperfluid so users can provide liquidity to trading pairs on its DEX
Spooks Labs hosted an X space with ecosystem projects Hyperfluid, Kofi, Panana Predictions and Flipvault
You might have seen these Aptos-related headlines recently…
Want to dive into the ecosystem full-time? Find the latest job postings on Aptos Foundation here.
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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.