Meet the Top DeFi Protocols on the Aptos Blockchain

Aptos TVL Linked to $APT Price Rise

The Aptos blockchain has been on fire in 2023, with the value of its native coin $APT nearly hitting $20 last week and its market cap now sitting at more than $2.7 billion, making it one of the top 30 largest cryptocurrencies.

Concurrent with the rise of $APT, the blockchain’s Total Value Locked (TVL) has also increased in terms of U.S. dollars and now sits at more than $75 million, according to DefiLlama.

However, in terms of $APT, the chain’s TVL peaked on Dec. 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 top Decentralized Finance (DeFi) protocols on Aptos:

Decentralized Exchanges

1. PancakeSwap

• TVL: $37.1 million
• 7-Day Change: +15%
• 1-Month Change: +36%
• Notes: The dominant BNB Chain DEX has taken Aptos by storm, accounting for nearly half of the chain’s TVL in all.

2. AUX Exchange

• TVL: $11.8 million
• 7-Day Change: +2%
• 1-Month Change: -36%
• Notes: AUX has retained its position as the top Aptos-native DEX, but its share of the chain’s TVL has suffered with PancakeSwap’s rise.

3. LiquidSwap

• TVL: $9.1 million
• 7-Day Change: +6%
• 1-Month Change: +10%
• Notes: LiquidSwap was the first Automated Market Maker on Aptos, and its TVL has held fairly steady since November.

Liquid Staking

1. Tortuga

• TVL: $10.7 million
• 7-Day Change: +25%
• 1-Month Change: +243%
• Notes: Tortuga and rival liquid staking platform Ditto were popular protocols since the first airdrop of APT coins, when there were no decentralized cross-chain connections and limited DeFi utility. Tortuga assumed and so far retains the position of dominant liquid staking platform on Aptos.

2. Ditto

• TVL: $2.3 million
• 7-Day Change: -4%
• 1-Month Change: +140%
• Notes: While Ditto is a distant second to Tortuga, it has also seen a significant rise in TVL along with the increase in the value of $APT.

Lending

1. Abel Finance

• TVL: $1.8 million
• 7-Day Change: +56%
• 1-Month Change: +57,899%
• Notes: Abel Finance, which is forked from Compound, is a relatively new entrant that has seen tremendous growth in TVL in the second half of January, both in terms of USD and $APT.

2. Aries Markets

• TVL: $1.4 million
• 7-Day Change: +39%
• 1-Month Change: +122%
• Notes: The TVL of Aries Markets has risen steadily since the debut of Aptos in terms of USD. However, in terms of $APT, the lending platform’s TVL crested around the beginning of 2023, although it has steadied somewhat in the past two weeks.

What is Aptos:

Aptos is a new, independent project focused on delivering the safest and most production-ready Layer 1 blockchain in the world. The team includes the original creators, researchers, designers, and builders of Diem, the blockchain that was first built to serve this purpose.

Where to find Aptos Labs:

Website | Twitter | Telegram | Medium | Discord |