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The percentages and metrics are based on a 14-day timeframe, unless noted otherwise.
🌐What happened: Echelon, a lending protocol that gives users access to leverage through over-collateralized loans, joined the Aptos Foundation’s LFM.
🌐Why does it matter: Aptos Foundation’s LFM is a program created to provide ecosystem projects resources such as growth strategy, direct support with the Aptos Foundation team, connections with other network projects, and more. It is designed to be “The Premier Token Generation Event (TGE) Track for Aptos Projects.” This structured support aims to align the protocol’s roadmap with Aptos’ vision of being a global trading engine.
For Echelon, its inclusion in LFM brings it enhanced visibility, refined tokenomics and deeper integrations with Aptos-native DeFi projects like Aries Markets and Echo Protocol, which are the two largest by TVL.
Currently, Echelon boasts a borrowed amount of nearly $118 million, DefiLlama data shows. The protocol also has a TVL of $133.4 million, up 33% on the year, showcasing its appeal to users as it’s the sixth largest protocol on the network in this category.
Beyond support, Echelon joining LFM signals it plans to TGE soon. This is a critical step for web3 projects, as the launch of native tokens can incentivize user participation and fund ecosystem development. TGEs could be a make or break for some teams, as token launches are an integral part of crypto, so making sure the right resources are provided is important. LFM aims to prioritize projects on the Aptos network, while making sure teams have the right tools equipped to have a successful launch.
🌐The big picture: A successful TGE requires a lot of moving parts: a thoughtful tokenomics design, robust marketing to drive community adoption and technical integration to ensure scalability and security. As more pieces become complex, having the right resources surrounding a team’s launch is important. So, programs like the Aptos Foundation’s LFM can ensure a TGE aligns with market demands and necessary token frameworks.
This support approach can pave the way for other networks to create a similar model for their ecosystem projects to follow. If LFM ushers enough projects successfully to TGE, it will showcase how these tailored programs can drive ecosystem growth and attract new users to the broader network.
Springboard launched its generative AI tool to mint NFTs and traits based on the relationship between price and supply of certain traits
Hear from Aptos Labs Founding Engineer Greg Nazario and Head of Infrastructure Pranav Raval talk about Shelby and its decentralized storage protocol
Mirage Protocol’s founder hosted a live coding stream about its leveraged tokens feature
Echo Protocol reached an all-time high of $338M in TVL on July 23 on Aptos, DefiLlama data shows
Amnis Finance partnered with Tapp Exchange to integrate Tapp’s liquidity pools and trading routes for its liquid staking protocol
Hyperion released staking support for its RION token
Tapp Exchange shared it hit $5M in TVL and $50M in trading volume for its DEX on Aptos
Fliq launched its Aptos-powered predictions market to mainnet
Explore Aptos’ content creator ecosystem in an X thread that features various user generated content
Defi Cattos released its combat role-playing game and CATTOS token to Aptos
Aptos Reserve teased its coming to the network soon, with the goal to become the largest onchain owner of the APT token from public market acquisitions
Aptos recorded a new high on the year of $30.3K fees generated on July 22, Artemis data shows
The network hit $1.43B in stablecoin market cap, an all-time high according to DefiLlama data
WBTC, an omnichain version of Wrapped Bitcoin that moves across blockchains via LayerZero, deployed to Aptos
Aptos Labs deployed Stateless Accounts and Orderless Transactions (testnet) to the network
Listen to Aptos Labs Founding Engineer Sherry Xiao share why Aptos was built and how the network can reach for greater user adoption
Want to dive into the ecosystem full-time?
Find the latest job postings on Aptos Foundation here as well as open roles across the Aptos ecosystem.
Ekiden is hiring a Rust Backend Engineer for its Aptos-powered Institutional Grade CLOB
Listen to the latest Aptos After Dark X space with the PACT Protocol team
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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.