It's clear that something is cooking
@Aptos_Network
. I'm a co-founder of the largest application on the network, and here's my list of upcoming significant ecosystem wide catalysts.
🧵
.
@Aptos
April is coming
Remember
@ThalaLabs
is the base value accrual layer for all Aptos onchain activity from swapping, borrowing, staking, minting stablecoins, token launches, and real world assets.
With governance live, interested in seeing some proposals related to this.
"🌊 Ondo is further expanding the Aptos ecosystem through a significant integration with
@ThalaLabs
, a decentralized finance protocol on Aptos. Highlighting $USDY’s utility, composability, and trust within the DeFi ecosystem."
LFG
📣 Ondo Finance takes great pleasure in announcing our strategic partnership with Aptos Foundation, aimed at revolutionizing the integration of real world assets with blockchain technology on
@Aptos_Network
. 📣
This partnership not only signifies a major step forward in
What does my Aptos thread mean for
@ThalaLabs
?
Simple, it will be the hub of all new capital inflows to the network from:
1) New entrants
2) Token launches
3) Unlocking APT
4) RWA partnerships (smth very soon here Thala specific)
5) Liquid staking
Pyth is the future of onchain oracle services without a doubt.
Scalability:
- Uses publishers (~6-7 CEXs / MMs / DEXs) to create price feeds, allowing oracles on far more types of assets. Serves emerging L1/tokens best.
Non-crypto assets:
-FX, commodities, and interest rates.
As a former VC, crypto venture over indexes on product in early stage.
Could have/still can blow it out of the park by just investing in extremely ambitious founders that can 1) pivot fast 2) survive 3) do whatever it takes to win.
High capital velocity = finding new PMF easy.
🚨 We are proud to announce that Thala is going Modular by expanding to Movement, a network of Move-based blockchains.
More on what and why
@movementlabsxyz
🧵
$17m APT deposit into our LSD product today. This makes
@ThalaLabs
the 10th largest non EVM protocol and the largest Move protocol. Exponential growth continues 😎
The team is also working on getting
@PythNetwork
sthAPT oracles to integrate it across the eco as collateral!
The cool thing is given
@ThalaLabs
deep liquidity, large amounts of APT deposited, position in the ecosystem, and scope of products is that the design space from here is truly infinite.
Doubling down on RWAs, restaking, AI, trading, memecoins all being considered.
Initia is a MOVE based network for interwoven rollups backed by
@BinanceLabs
.
2024 year of Move and
@ThalaLabs
.
Excited to be an investor and to work more closely with the Initia team.
Interwoven rollups will bind together the modular future.
Initia is proud to announce our $7.5m seed fundraise led by
@Delphi_Digital
and
@hack_vc
along with prominent angels
@cobie
,
@dcfgod
, and
@SplitCapital
to build a network for interwoven rollups.
Being there from day -1 of Aptos (due diligence on
@Aptos
Move for the investment round at ParaFi), starting
@ThalaLabs
, to seeing the ecosystem grow to hundreds of thousands of users, 0.5b in TVL, and become of the fastest growing L1s is a great feeling.
Have been at the Aptos summit over the past week and incredibly optimistic about what the next 2-3 quarters looks like for
@Aptos_Network
and
@ThalaLabs
.
Here's the breakdown:
If I was a new fast L1 I would pay Ethena whatever it cost to port USDe onto my chain
This thing is powerful enough to kickstart defi activity on Cardano
Fundraising demand for
@ThalaLabs
strong, happy to see Aptos investors come back with interest to the application layer.
Long road to help create this out of thin air in bear depths. One of our goals has always been to inspire Aptos investors to double back down app layer!
First major governance proposal posted on
@useParliament
, our snapshot like tool that we built for onchain Aptos voting. Looking forward to many more proposals created the community.
Encourage the community to take a look, and discuss in the discord.
The level of ambition
@rushimanche
has for
@movementlabsxyz
is unmatched imo. Find another pre-launch founder who’s speaking at half as many spaces evangelizing the vision and building an early community.
This +
@Aptos
Move -> biggest L2 out of any easily when it launches.
1) Reading between the lines, it's abundantly evident that Aptos will make a major RWA announcement in April. Aptos is hosting a major event in HK then. As Neil says "three of the world's largest asset managers this week."
.
@moshaikhs
and I sat down with three of the world's largest asset managers this week
A little preview...while the year started with ETFs, it will conclude with RWA on-chain en masse, growth in Asia and all using parallelisation on Aptos
See you in Hong Kong
@aptoslabs
has been working on developing the safest and most secure L1 and I'm excited to support them. In this thread I’ll cover some of the tech specs of its programming language - Move.
Btw I’m optimistic crosschain as products like
@wormholecrypto
develop zkbridges 🔒
3) Community tokens. The only major distribution of $APT was during airdrop 1. Any chain knows that its tokens are the most valuable assets to build traction and acquire users. I expect that users of the chain will eventually benefit from this in a significant way.
Beyond excited to be supporting and working with
@movementlabsxyz
and the team
@rushimanche
@torabyou
@coopsmoves
and more.
These guys seriously know how to build and we're going to do big things. Can't wait for mainnet and all the Move based innovation
@ThalaLabs
is doing.
Very big, real ecosystem fund from the great team at
@OKX_Ventures
Time to build and onboard 1B users, no shortage of Move based application funding now.
Analyze the growth and change in this situation since two years and a clear trend/narrative is there.
Calling all BUILDers 💪
@OKX_Ventures
and
@aptos
announced a new $10m fund and accelerator dedicated to advancing innovation in Web3.
The accelerator will support key projects that are critical to the evolution and growth of the ecosystem.
More 👇
1/ Thank you to
@BanklessHQ
for featuring Thala as one of the "5 Projects to Watch on Aptos" 🙌
As Bankless analysis notes –– "Overall, Thala has positioned itself as the center of DeFi on Aptos thanks to its holistic suite, strong hold on TVL, and supportive Foundry." 👀
Two things particularly interesting for me right now for
@ThalaLabs
given the APT deposits in the LST:
- Thala venturing into Restaking - questions to be solved first around who the 'AVS' audience would be.
- MEV capturing validator client to boost APT yields a la
@jito_sol
A user *just* deposited $5m in $APT in
@ThalaLabs
to borrow MOD. This brings our TVL to $20m and stablecoin collateral composition to almost 60% non-USDC/USDT.
DeFi just heating up here and as more APT unlocks, predict an increasing amount of this is rolled into Thala.
"...However, the recent success of Solana, Aptos, and other high-performance chains suggests they will play a major role in DeFi moving forward."
@Aptos
relevant article, reviewed by
@AveryChing
! Worth reading. Nice work from
@variantfund
@0xZoZoZo
For
@ThalaLabs
it's that by building on
@Aptos_Network
we get direct and very specific support from the entire Aptos team [eng, product, marketing] - from my personal experience as a past builder/investor *far* more so than any other ecosystem does and it's not close.
2) The three largest are Blackrock, Vanguard, and Fidelity. If I had to guess this refers to either them using the chain in someway / integrating it into one of their products which has precedent in the TradFi world. Also note Blackrock is the most crypto-aligned of the bunch.
The demand for decentralized stablecoins is here to stay.
The light of this situation is that when the dust settles we will have really learned what will work and what won’t.
Hedging, insurance, collateralization, LP incentives, stableswap, and user demand,
Still optimistic.
10) The tech and Move is elite.
Thanks for reading and my DMs are open. Also, all views here are strictly my own and don't represent anyone else except me.
Aptos Foundation has introduced a proposal to deploy Aave V3 on Aptos Mainnet as part of Aave’s open governance process. Aave Labs has built integration code and deployed it onto the Aptos testnet. If approved, this will be Aave's first deployment to a non-EVM blockchain. Read
BitMEX founder Arthur Hayes predicted in a video interview (38:25) that in the L1 competition, Aptos will flip Solana and become the number two L1. This will take one to three years, and he will reveal more details in September this year.
As institutional custody services deploy on
@Aptos_Network
, it's inevitable that funds, large traders, and other institutions:
- Use LSDs (sthAPT)
- Mint stablecoins (MOD)
- Provide liquidity (ThalaSwap)
- Farm LSDs recursively (
@EchelonMarket
x sthAPT)
Excited to be leading this and working on scaling it up to $5m to further support Move applications built on Aptos and Thala.
Some notes:
- This is a stablecoin fund!
- There's a (growing) list of partners looking to coinvest in projects coming out of this accelerator.
Institutional DeFi and Move are a match made in heaven
Solidity is not the end game - surprised / not surprised to hear how many people brought this up this week alone
We're actually over 23.5m in TVL due to defilama not counting $MOD yet (pending coingecko integration this week 👀).
Places Thala solidly at
#1
on Aptos and 47% of total tvl.
50m soon.
4) Asia. With all said and done, Aptos out of any L1 likely has the strongest focus (and success) on Korea / the wider region. Asia has, by far, the most fluid and high velocity capital in crypto.
Aptos DeFi represents one of the best asymmetric bets in crypto - and is also hiring!
The L1 is hiring elite analysts, liquidity strategists, institutional facing folks, protocol supporters, and more.
Dm
@neilhar_
from Aptos or me if you have questions / want a warm intro.
6) The
@JamboTechnology
phone built on the chain. Unlimited potential here, with Jambo raising $40m from top V1s to build a crypto-retail facing phone in emerging markets. Untapped for crypto as a whole and a perfect distribution channel for dapps.
every rollup will pivot to using SVM, MoveVM, or some other altVM that is more performant than the default EVM
I am high confidence on this, 90%+ interval
🚨 We're excited to announce a major upgrade to the THL emission program, introducing 'Gated Emissions' to attract long-term liquidity and reward participants with THL tokens who align with the protocol's success.
Read on to understand what and why Gated Emissions 🧵
5) Aptos has become extremely crypto-native. Take a look at the founders tweets. Institutional stuff aside it's obvious they care deeply about trying to create value for their users in a way we're all familiar with. This alone IMO puts Aptos into the 'unfadeble' category.
stablecoins are upon us.
@circle
just unveiled their Euro e-money.
when I spoke at
@pointzeroforum
last week, I explained how Aptos will revolutionize high-volume cross-border transactions to some of the biggest banks and I can tell you, they were taking notes...✏️
Excited to be supporting
@OndoFinance
as an investor and start working more closely with their products!
Big day for them with the release of $ONDO - they're the clear leader in the RWA onchain market.
We are excited to be one of the launch partners for USDY on Aptos.
Over $10 million of USDY has already been deposited as collateral for the MOD stablecoin (CDP vault)!
9) 99% chance a game reaches critical mass on the network in 2024. Probably will be from
@supervlabs
, the rebranded Metapixel team from Korea. Study
@MaviaGame
for what a game with super good crypto distribution does (goes to several billion and onboards non crypto users).
Many protocols remain incredibly well capitalized and def have 3+ year runway.
Protect your treasury and you/this industry will survive. Continue to deploy it, but cautiously, to secure talent and growth.
The flexibility and resilience of these protocols is underestimated.
7) Semi related, but buy the phone - it's $99 and can run PUBG / genshin. Value even if we're not factoring the high potential of airdrops to phone users.
8) AI and Microsoft. AI will be the defining tech (crypto) theme for this year. The partnership here seems to run deep and expect we see an app on the network that actually works with Microsoft (providing decentralized compute etc).
Thala's 2024 Roadmap
Thala began with a simple vision: DeFi HyperApp powered by Move.
Now Thala is pushing boundaries with the vision of becoming the best platform to collateralize, trade, and leverage every asset on
@Aptos
Read the 2024 roadmap 📝
$8.63m in this vault already, that's quick - expect a lot of unlocking APT to be rolled into this one which generates Thala mint fees, interest rates, higher yields, and more TVL!
We are pleased to announce that Thala's Liquid Staking token, sthAPT (Staked Thala APT), can now be used as collateral with a 150% Collateral Ratio for minting the MOD (Move Dollar) stablecoin.
(1/3)
Would not want to miss out on these yields! Even more excited to see what happens to yield as we introduce veTHL farming over the next week.
Assume that yields ($THL and $APT now) -> up and into the hands of those more aligned with the protocol.
For the first time ever $APT rewards are now live on ThalaSwap as incentives for providing liquidity! 55,000 APT will be emitted to the following pools over the next month!
Start 2024 off with a bang and earn $APT incentives at !
@ParadigmEng420
The Aptos token isn’t live yet and neither are any apps, TPS on Aptos is simply a function of dapp demand - of which there isn’t any yet! Doesn’t mean it’s broken.
A positive of recent events has been an increase in
@MakerDAO
delegate platforms and governance participation.
Shoutout
@mhonkasalo
upcoming platform,
@LucaProsperi
lending oversight CU, + students @ penn & columbia.
Let's chat if you're a delegate looking for MKR voting power.
1/ Announcing the beta of the new Move on Aptos Compiler! The new compiler paves the way for The Future of Move on
@Aptos
. Join our beta testing program and you could win awards in our bug bounty. (See below.)
If high fdv low float VC infra tokens won’t make it anymore:
That leaves us with high circulating low fdv application layer tokens.
Or the largely untried high fdv low float no VC app layer tokens (maybe the future). And other undiscovered more ‘fair’ market participation.
The best solution:
Have this, mandated, to be reinvested into ecosystem projects tokens liquid.
Much more long term aligned thinking with the original token too.
Waiting for first token ecosystem that does this successfully at scale.
VCs shouldn't be allowed to sell the yield earned from tokens that are still locked due to vesting.
Some solutions worth considering:
1) Lock yield for the same duration as the coin that generated the yield
2) Send yield to the foundation or DAO
3) ???
Discuss.
The main thing holding back the crypto industry right now isn’t scaling, zkevm completion, or unreleased games IMO.
It’s:
1. Regulatory uncertainty slowing institutional participation + more rwa<>onchain integrations.
2. UX
3. Security