Aptos is a groundbreaking Layer 1 blockchain that has quickly gained attention in the cryptocurrency industry. Known for its high scalability, innovative programming language, and robust security features, Aptos is becoming a significant player. As of May 2024, the Aptos ecosystem boasts over 170 projects with a total volume exceeding $2.5 billion. Understanding the key projects and decentralized applications (dApps) within the Aptos ecosystem is crucial for grasping its potential impact and growth.
What Is Aptos (APT) and How Does It Work?
Aptos was founded by Mo Shaikh and Avery Ching, former developers of the Diem blockchain at Meta. Their vision for Aptos includes creating a highly scalable and secure blockchain that can support a wide range of applications. With over $350 million in funding from prominent venture capital firms like Andreessen Horowitz, Aptos aims to drive the next generation of blockchain technology.
Aptos’s DeFi TVL | Source: DefiLlama
As of May 2024, the Aptos ecosystem has over 170 projects while the total unique active wallets (UAWs) exceeds 17 million. The total volume of all Aptos dApps is over $2.5 billion according to DappRadar, while DefiLlama records Aptos’s DeFi TVL (total value locked) at nearly $400 million at the time of writing.
Key Features of Aptos Network
Aptos stands out as a Layer 1 blockchain, designed to offer unprecedented scalability and security. As of May 2024, it is the 26th largest cryptocurrency by market cap, with a market capitalization of almost $4 billion. Its key features include:
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High Scalability: Aptos can handle up to 160,000 transactions per second (TPS), making it one of the fastest blockchains available. This scalability is achieved through its unique Block-STM technology, allowing for concurrent transaction execution.
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Move Programming Language: Developed initially for Meta’s Diem project, Move is a secure and flexible programming language used to write smart contracts on Aptos. Its ability to define custom resources and enforce strong guarantees about their behavior enhances security and functionality.
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Byzantine Fault Tolerance (BFT): Aptos uses the AptosBFT consensus algorithm, ensuring network reliability even in the presence of malicious nodes. This feature enhances the overall security and resilience of the blockchain.
Top Aptos Ecosystem dApps and Projects
Here’s a look at some of the most popular Aptos-based dApps. We have compiled the list based on each project’s objective, level of on-chain activity, and future potential:
DeFi: Thala (THL)
Thala Labs is a key project in the Aptos ecosystem, focused on advancing decentralized finance (DeFi) through innovative solutions. Its mission is to provide robust financial tools and services, enabling users to maximize their digital assets' potential. Thala Labs is best known for ThalaSwap, a decentralized exchange (DEX) that offers fast, secure trading with low fees. It also provides liquidity provision and yield farming opportunities, helping users earn rewards by participating in the DeFi ecosystem. The project emphasizes user security through advanced protocols and offers educational resources to guide new users in navigating DeFi.
Thala Labs significantly impacts the Aptos DeFi landscape by offering essential infrastructure and services that attract both retail and institutional investors. Its innovations, such as instant trade execution and high liquidity, have boosted the TVL within the Aptos ecosystem. By delivering reliable and efficient DeFi solutions, Thala Labs supports broader adoption of Aptos, enhancing its position as a leading blockchain platform for decentralized applications. This contribution helps Aptos grow and innovate, drawing more users and developers to its ecosystem.
Wallet: Petra Wallet
Petra Wallet is a user-friendly, self-custodial web3 wallet designed for the Aptos blockchain. Developed by Aptos Labs, Petra aims to provide a seamless and secure way for users to store, manage, and transfer their digital assets. The wallet supports a wide range of functionalities including the creation and viewing of NFTs and interacting with various dApps within the Aptos ecosystem. Petra's mission is to enhance the overall user experience on Aptos by offering a reliable and intuitive platform for engaging with blockchain technology.
Petra Wallet stands out due to its robust security features and ease of use. It is a non-custodial wallet, meaning users have full control over their private keys and seed phrases, ensuring complete ownership of their assets. Petra integrates with multiple Aptos ecosystem dApps, allowing users to seamlessly interact with platforms like Mercato, Thala, and Pontem. The crypto wallet also supports hardware wallets such as Ledger, providing an extra layer of security. Additionally, Petra features transaction simulation and gas customization, giving users clear visibility and control over their transactions. These innovations make Petra a cornerstone of the Aptos ecosystem, driving user engagement and facilitating the adoption of blockchain technology.
Find out more about other top web3 wallets in the market.
RWA: Propbase (PROPS)
Propbase is a real estate tokenization platform built on the Aptos blockchain. Its mission is to transform property investment by making it accessible to a broader audience through the use of blockchain technology. Propbase allows users to invest in high-quality real estate assets with as little as $100, providing fractional ownership that can be easily traded on its platform. This approach aims to democratize real estate investment, offering users a chance to earn rental yields and sell their shares anytime, creating a liquid asset class out of traditionally illiquid real estate.
Propbase leverages the Aptos blockchain's high scalability, security, and low transaction costs to facilitate real estate investments. One of its key innovations is the fractional ownership model, which lowers the entry barrier for investors. By tokenizing real estate assets, Propbase enhances liquidity and simplifies the investment process, allowing transactions to be completed in minutes rather than weeks or months. The platform integrates features like a peer-to-peer marketplace for trading tokens, ensuring transparency and security through blockchain-based verification of property documents. This model significantly impacts the Aptos ecosystem by attracting a diverse range of investors and driving the adoption of blockchain for real-world asset tokenization.
Learn more about the best RWA tokenization protocols in the crypto market.
Stablecoin: Ondo US Dollar Yield (USDY)
Ondo US Dollar Yield (USDY) is a tokenized financial product that aims to provide high-quality, dollar-denominated yields by leveraging US Treasuries and bank deposits. USDY is designed to offer a stable and attractive yield alternative to traditional stablecoins, catering to non-US individual and institutional investors. The mission of USDY is to make traditional financial instruments more accessible within the blockchain ecosystem, bridging the gap between conventional finance and DeFi by offering a secure and transparent investment option.
USDY's key innovation lies in its structure as a tokenized note secured by a portfolio of US Treasuries and high-quality bank deposits. This setup ensures that investors can benefit from a reliable and low-risk yield, with the interest rate adjusted monthly by Ondo Finance. The token is designed for daily liquidity, allowing investors to mint and redeem USDY seamlessly. By integrating USDY into the Aptos blockchain, Ondo Finance has enhanced the utility and accessibility of the token, providing users with a stable and yield-bearing asset within the Aptos ecosystem. This integration not only strengthens the financial infrastructure of Aptos but also attracts a broader range of investors looking for secure yield opportunities in the DeFi market.
Gaming: Marblex (MBX)
Marblex (MBX) is a blockchain-based gaming ecosystem developed by Netmarble, aimed at integrating blockchain technology into the gaming industry to offer enhanced and immersive experiences. By leveraging the high performance and security of the Aptos blockchain, Marblex enhances its scalability and interoperability, supporting more players and providing a smoother gaming experience. This ecosystem includes a cryptocurrency wallet, decentralized exchange, token staking, and an NFT marketplace, enabling players to interact with digital assets seamlessly. Games like "Meta World: My City" and "Ni no Kuni: Cross Worlds" are part of the Marblex ecosystem, showcasing the innovative integration of blockchain in gaming.
The partnership with Aptos impacts its ecosystem by introducing a large, engaged user base from the gaming sector into the blockchain space. This collaboration demonstrates the capability of Aptos’s technology to support large-scale, high-performance applications, enhancing its visibility and adoption. By combining Aptos's technological strengths with Marblex's gaming expertise, the partnership aims to set new standards in blockchain gaming, driving forward the adoption and utility of both ecosystems. This integration highlights the transformative potential of blockchain technology in traditional industries like gaming.
Here are some more top play-to-earn projects to check out.
DEX: LiquidSwap
LiquidSwap is the first DEX and automated market maker (AMM) built on the Aptos blockchain, developed by the Pontem Network. It aims to offer a seamless and efficient trading experience leveraging Aptos's high scalability and security. LiquidSwap supports various tokens and DeFi functionalities, including token swaps, liquidity pools, yield farming, and cross-chain bridging. The platform uses the Move programming language for secure smart contract execution and allows users to swap tokens like APT and USDC, provide liquidity for rewards, and transfer assets from other blockchains to Aptos, enhancing interoperability in the DeFi sector.
LiquidSwap's purpose is to create an accessible and efficient decentralized trading environment with features like low-fee swaps, liquidity provision with rewards, and cross-chain asset transfers. It also offers staking options for passive income through network participation. As the first DEX on Aptos, LiquidSwap drives liquidity and user engagement, setting the standard for decentralized trading on the network. By integrating innovative DeFi services and supporting a wide range of tokens, LiquidSwap boosts the utility and attractiveness of the Aptos ecosystem, promoting its growth as a leading Layer 1 blockchain.
Here’s a list of some of the best DEXs to explore.
SocialFi: Chingari (GARI)
Chingari is a rapidly expanding on-chain social media platform that originated in India and has now achieved global reach. It aims to revolutionize social media by providing a decentralized, user-centric experience where users can create, share, and monetize content using the native GARI token. The platform supports over 175 million users across more than 15 languages, allowing users to earn GARI tokens through engagement and content creation. These tokens can be used for tipping, boosting content, purchasing virtual gifts, and staking within the app to earn additional rewards. By integrating with the Aptos blockchain, Chingari enhances its scalability, security, and transaction efficiency, significantly boosting user activity and engagement.
The partnership with Aptos has had a profound impact on both Chingari and the Aptos ecosystem. This collaboration has led to a dramatic increase in new users and transaction volumes, with Chingari now accounting for a substantial portion of Aptos's daily active users (DAUs) and transactions. The integration showcases the potential of decentralized social media and underscores Aptos' capability to support high-performance applications. By leveraging Aptos' technology, Chingari sets a new standard for social media platforms, driving broader adoption of blockchain technology and enriching the Aptos ecosystem.
Explore some more popular SocialFi crypto projects.
NFT: Aptos Art Museum
The Aptos Art Museum is a pioneering project within the Aptos ecosystem, designed to create an engaging metaverse environment for showcasing digital art. Its mission is to provide a platform where users can explore NFT art galleries, buy and sell NFTs, participate in museum ticket raffles, and own customizable stores and shops. The museum aims to democratize access to digital art and foster a community of artists and enthusiasts on the Aptos blockchain.
Innovatively using metaverse technology, the Aptos Art Museum offers immersive 3D experiences where visitors can interact with exhibits in real-time and participate in live auctions. The museum leverages the scalability and security of the Aptos blockchain to ensure seamless transactions and secure ownership of digital assets. This enhances user experience and significantly contributes to the cultural and social fabric of the Aptos ecosystem, attracting a diverse audience and showcasing the blockchain's potential beyond traditional financial applications.
AI: AIOZ Network (AIOZ)
AIOZ Network is a decentralized content delivery network (dCDN) aimed at revolutionizing digital media delivery and AI computation. Leveraging a global network of nodes, AIOZ facilitates storing, transcoding, and streaming digital media, while also powering decentralized AI tasks. Its mission is to provide efficient, scalable, and cost-effective solutions by harnessing the decentralized nature of blockchain technology. Key innovations include Web3 Storage (W3S), InterPlanetary File System (W3IPFS), and Web3 AI (W3AI) infrastructure, which offer scalable storage, secure file sharing, and decentralized AI computation. These technologies allow developers to build dApps with robust SDKs and comprehensive documentation.
AIOZ Network's integration with the Aptos ecosystem significantly enhances its capabilities by providing advanced decentralized solutions for AI, storage, and streaming applications. This collaboration equips Aptos developers with the infrastructure needed to create scalable and efficient dApps, thus attracting more users and developers to the platform. By introducing high-speed media streaming and efficient content delivery, AIOZ Network boosts Aptos's ability to handle large-scale media and AI tasks, positioning it as a leader in the web3 landscape. This partnership underscores the transformative potential of decentralized technologies in traditional digital media and AI industries.
Explore more top AI crypto projects.
Launchpad: MoveGPT
MoveGPT is the first AI-powered launchpad built on the Aptos blockchain, designed to facilitate the growth of the Move Web3 economy. Its mission is to empower crypto projects by providing a secure and scalable platform to raise liquidity. MoveGPT uses the Move programming language and Aptos' advanced features to create a decentralized environment for project launches. The platform offers a unique feature of vote-escrowed tokens, where MGPT tokens can be locked to obtain transferable, mergeable, and splittable veNFTs. These veNFTs carry voting power based on the amount of MGPT locked and the duration of the lock-up, thus ensuring a democratic and community-driven approach to project funding.
MoveGPT stands out with its innovative use of AI and decentralized finance (DeFi) mechanisms to support project fundraising and community engagement. The launchpad allows projects to raise funds through Initial DEX Offerings (IDOs) and provides staking opportunities for MGPT token holders to earn passive income and secure whitelist allocations for new projects. By integrating AI, MoveGPT offers advanced analytics and insights, enhancing decision-making for investors and project developers. This setup not only boosts the efficiency and transparency of the fundraising process but also strengthens the Aptos ecosystem by attracting high-quality projects and fostering a vibrant community of developers and investors.
Check out a few more leading IDO launchpads in the crypto market.
Bridge: LayerZero (ZRO)
LayerZero is an omnichain interoperability protocol designed to enable seamless communication and asset transfers across various blockchain networks. The LayerZero bridge specifically facilitates smooth transfers between Aptos and other major blockchains like Ethereum, Arbitrum, Optimism, Avalanche, Polygon, Solana, and BNB Chain. The mission of LayerZero is to create a unified platform that connects different blockchain ecosystems, thereby enhancing their interoperability and scalability. By leveraging the security and scalability of the Aptos blockchain, LayerZero aims to provide a reliable and efficient solution for cross-chain interactions.
LayerZero employs a unique mechanism involving oracles and relayers to transfer messages and assets between blockchains securely. This approach ensures that messages are routed and validated efficiently, minimizing the risk of errors or fraud. One of the key features of LayerZero is its ability to support omnichain applications, enabling developers to build dApps that can operate seamlessly across multiple blockchains. This integration enhances the utility and functionality of the Aptos ecosystem by enabling the movement of assets and data across different networks. The LayerZero bridge plays a crucial role in fostering a more interconnected and robust DeFi landscape on Aptos, attracting developers and users from various blockchain communities.
Here’s a deep dive into LayerZero and how it works.
How to Get Started with Aptos
Here’s how you can take the first steps in exploring the Aptos ecosystem and its dApps:
Setting Up a Wallet that Supports Aptos
To get started with Aptos, the first step is to set up a wallet that supports Aptos tokens (APT). You can choose from several options like the Martian Wallet, Petra Wallet, or Pontem Wallet. These wallets are available as browser extensions and mobile apps. Follow these steps:
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Download and Install: Visit the official website of your chosen wallet and download the browser extension or mobile app.
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Create a New Wallet: Open the wallet app, select "Create New Wallet," and follow the prompts to generate a new wallet address. Make sure to securely store your seed phrase.
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Fund Your Wallet: Buy APT tokens from an exchange like KuCoin and transfer them to your new wallet address. This will allow you to start transacting and staking on the Aptos network.
What Does the Future Hold for Aptos Blockchain?
The Aptos ecosystem is experiencing rapid growth, with over 170 projects currently in development, spanning DeFi platforms, NFT marketplaces, and gaming applications. The Aptos roadmap includes several key future developments: scalability improvements to enhance transaction throughput and reduce latency, interoperability through the development of bridges to connect with other major blockchains, and the introduction of new tools and resources to support developers building on Aptos. These initiatives are designed to ensure Aptos remains at the forefront of blockchain innovation and usability.
Aptos envisions a decentralized, secure, and scalable blockchain capable of supporting mass adoption. Its long-term goals include attracting mainstream users with user-friendly applications and services, ensuring sustainable growth through ongoing innovation and community engagement, and expanding its global presence to foster a diverse and inclusive community. By focusing on these objectives, Aptos aims to become a leading blockchain platform, offering robust solutions for a wide range of applications.
Further Reading