Aptos Ecosystem Overview

Aptos

Feb 20, 2023

11 min read

Aptos Ecosystem Overview

Layer-1 blockchains are the foundation of the decentralized world, providing the basic infrastructure for operating decentralized applications. They are designed to offer fast, secure, and scalable solutions for the creation and execution of decentralized applications. Unlike traditional centralized systems, Layer-1 blockchains use a consensus mechanism to maintain a shared ledger of transactions and reach an agreement on the network state. Aptos is a Layer-1 blockchain network built for scalability and security, and it supports smart contracts and blockchain applications using the Move programming language.

In this blog, we will explore the Aptos blockchain ecosystem and its various benefits, such as security, efficiency, speed, and decentralization, that make it an attractive option for developers, businesses, and users looking to build decentralized applications. For an overview of Aptos, please look at our previous article.

Validators on Aptos

Validators play a crucial role in Proof-of-Stake (PoS) blockchains by being responsible for validating transactions and creating new blocks. They are selected to perform these tasks based on the amount of stake they hold in the network. The security and stability of the network depend on the actions of the validators, making it essential to have a diverse and decentralized group of validators to ensure the network operates as intended.

Stakin has been actively involved in the phases of the Aptos Incentivized Testnet and now Mainnet and continues working with a selected set of validators to offer the best performance for Aptos users. Our commitment is to support the network with reliable validator infrastructure and help further advance the blockchain ecosystem.

Stakin runs its own public Aptos node and provides dedicated nodes for institutional clients who want to stake their Aptos tokens. For more information on our services for Aptos, please visit our website and connect with our team.

There are currently 104 node operators active on Aptos, based in 23 different countries worldwide and 40 different cities. Among those node operators are long-term, well-established providers such as Stakin, Blockdeamon, Kiln, and newer validators. We’d like to take this opportunity to point out that decentralization is a crucial aspect of blockchain technology, as it ensures that the network operates in a fair and secure manner by distributing control and power among its participants. By having multiple validators and encouraging staking, a Proof-of-Stake (PoS) blockchain network can achieve a more robust and decentralized network, reducing the risk of single points of failure and promoting network stability. Therefore, we’d like to encourage you to DYOR, and please reach out if you have any further questions about node operators on Aptos.

Aptos Validator Map - First Published By Aptos Labs

Liquid Staking

Liquid staking refers to the process of staking a blockchain's native coins and receiving derivative tokens that represent the principal and the rewards, which can be used to earn additional DeFi yields. Unlike traditional Proof of Stake staking, liquid staking allows you to maximize your earning potential by combining staking rewards with other DeFi yields generated through lending, yield farming, and other means.

Liquid staking is available on various popular blockchain networks, including Ethereum, Solana, Polkadot, Polygon, and now Aptos.

Ditto Finance

Ditto Finance is one of the earliest liquid staking protocols built on Aptos. Users that stake their $APT on this platform receive Ditto staked Aptos (stAPT), which compounds as it earns APT from validator efforts. Furthermore, the platform offers direct and delayed unstaking with different yield percentages attached to offer users multiple risk levels.

Tortuga Finance

Tortuga Finance is a user-friendly platform that makes it easy for anyone to participate in staking on Aptos, even if they don't own a large amount of APT. Users can start staking and earn rewards without giving up their opportunity to participate in the DeFi space. As you hold tAPT, the rewards will accumulate, and when you decide to trade or unstake your tAPT, you will receive some of the rewards earned through staking. This offers a flexible and convenient way to earn staking rewards and participate in DeFi simultaneously.

According to a report by Aptos Insights on January 13, 2023, the projects Ditto and Tortuga were the top performers on Aptos, with a 31% and 25% increase in total value locked over a 24-hour period. This indicates a strong demand for liquid staking on the Aptos network.

Tooling

Explorers, API services, developer tools, and oracles are essential components of the blockchain ecosystem. Explorers allow users to view transaction history, block data, and other information on the blockchain in an easily accessible and user-friendly manner. API services provide a simple way for developers to integrate blockchain functionality into their applications, while developer tools facilitate the creation of new decentralized applications. Oracles serve as a bridge between the blockchain and the real world, bringing off-chain data onto the blockchain to be used in smart contracts and other decentralized applications. These components work together to provide a comprehensive suite of tools for developers, users, and stakeholders to interact with the blockchain.

Aptos Explorers

The Aptos Explorer is the native Aptos blockchain explorer built by Aptos Labs. It offers analytic insights such as daily active accounts, gas consumption, peak TPS, and an overview of transactions, validators, and blocks for Mainnet, Testnet, and Devnet. Another Aptos Explorer not managed by Aptos Labs is Aptoscan, which sets itself apart by also offering APIs on top of analytics, transaction, and block insights. Furthermore, Apscan offers a bigger focus on Governance and Proposals for Aptos, making it easy to find them and read them all in one place. Naturally, it also covers transaction insights, block insights, and analytics.

API Services

The Aptos Node API is a RESTful API for client applications to interact with the Aptos blockchain, built by Aptos Labs. Another API provider for Aptos is Aptosphere. Then there’s also Moralis, a Web3 API services subscription for multiple networks such as Solana, Ethereum, and now Aptos.

Oracles

Blockchain oracles are a critical component of the decentralized ecosystem, providing the means to bring external data into the blockchain. This data can include information from various sources, such as APIs, sensors, or real-world events, and is used to trigger smart contract execution or inform decentralized applications. Switchboard is a permissionless, multi-chain oracle network that provides oracle solutions for the Aptos Ecosystem.

Wallets and Authentication Products

A blockchain wallet is a digital wallet that allows users to securely store, manage and transfer digital assets built on blockchain technology. On the other hand, blockchain authentication products offer secure and decentralized authentication solutions that eliminate the need for traditional username-password combinations and provide users with more secure and convenient ways to access their digital assets. There are many wallets available for Aptos, such as:

  • Petra Wallet: Petra Wallet is a free web application that acts as a gateway to the Aptos blockchain. It can be installed as a Google Chrome extension and allows users to securely store and transfer assets, view NFTs, and interact with dApps on the Aptos blockchain.
  • Rise Wallet by Solflare: mobile app wallet in a similar style as the Solflare wallet, with the same ease of use.
  • Martian Wallet: self-custodial wallet for the Move ecosystem.
  • Fewcha Move Wallet is another Move Ecosystem wallet. The wallet has recently partnered with Pancake Swap for easy swapping abilities for its users.
  • Pontem Wallet is a cryptocurrency wallet designed for Aptos, with native DApps, buy NFTs and swap coins directly in the wallet. Furthermore, it is possible to connect to Liquidswap, the first AMM DEX on Aptos.

DeFi

DeFi refers to a set of financial applications and services built on blockchain technology that aim to provide more open, transparent, and accessible financial services. DeFi apps allow users to participate in a wide range of financial activities such as lending, borrowing, trading, and insurance without relying on traditional financial intermediaries. This new ecosystem of financial services is enabled by smart contracts and is accessible to anyone with an internet connection, bringing about a new era of financial freedom and innovation.

PancakeSwap

PancakeSwap is a decentralized exchange (DEX); it allows users to trade cryptocurrencies, including NFTs, directly from their wallets without the need for an intermediary. PancakeSwap operates on a liquidity pool model, where users can provide liquidity to the exchange in exchange for rewards in the form of fees and appreciation of the assets they have contributed. PancakeSwap also features a yield farming component, allowing users to earn additional returns by providing liquidity to certain projects.

LiquidSwap

LiquidSwap is an automated market maker (AMM) and exchange operating on the Aptos blockchain network. It is considered as one of the largest AMMs on the Aptos mainnet. To use Liquidswap, users can transfer cryptocurrency to the Aptos network using LayerZero or Wormhole Portal, or withdraw APT from a centralized exchange to an Aptos wallet.

Aries Markets

Aries Market is a decentralized margin trading protocol built on the Aptos blockchain. It allows users to trade with leverage by lending, borrowing, and trading using a margin. The trading platform operates using a fully on-chain order book, which provides transparency and faster settlement times.

Margin trading is a type of trading in which an investor borrows funds from a broker to increase the size of their trades, thus allowing them to potentially generate larger profits. In a decentralized margin trading platform like Aries Market, the lending and borrowing of funds is facilitated through the use of smart contracts, which ensures that the terms and conditions of the loan are transparent and automatically executed.

AUX Exchange

AUX exchange is a DeFi exchange live on Aptos. The exchange offers, swapping, liquid staking pools and of course, the option to trade and track your portfolio.

DefiLlama

DeFiLlama’s is one of the largest TVL aggregators in the DeFi space. Their data is fully open-source and maintained by a team of passionate individuals and contributors from hundreds of protocols. DefiLlama offers data about the Aptos DeFi ecosystem, and can be used to see which are the most successful DeFi apps around.

DeFiLlama Dashboard

Argo

Argo introduces a decentralized stablecoin for the Aptos ecosystem, called USDA. Argo is an Aptos lending protocol that allows users to use a dollar-pegged stablecoin USDA as collateral for minting and borrowing. Argo, which is currently live on mainnet, provides liquidity for otherwise idle assets deployed in the Aptos ecosystem.

NFTs

NFTs, or Non-Fungible Tokens, are unique digital assets that are stored on a blockchain and represent ownership of a specific item, such as art, music, or in-game items. They allow for secure, verifiable ownership and transfer of digital assets, providing a new way for creators and collectors to monetize their work. There are many, many, many different NFT projects in the Aptos Ecosystem. Those with gaming utilities are listed in the paragraph below.

The main NFT marketplaces on Aptos are:

  • Topaz an NFT marketplace focussed solely on the Aptos ecosystem, scalability, and security. With many high-throughput NFT sales.
  • BlueMove is a top NFT Marketplace on Aptos Blockchain, boasting a diverse range of APTOS NFT projects, including Art, Collectibles, Domain Names, Gaming, Photography, Sports, Utility, and Virtual World.
  • Souffl3 is an NFT marketplace, with an easy-to-use interface focussed on the Aptos ecosystem. Apart its marketplace, the platform offers a launchpad and “bake off”, allowing its users to earn on top of their NFTs.
  • STARSPACE is one of the newest NFT marketplaces and launchpads on the Aptos Ecosystem.

Games and Launchpads

A launchpad is a platform or service provided by a company or organization designed to assist and support new and emerging blockchain-based projects in launching and distributing their tokens. Launchpads often offer token sale functionality, marketing, and community-building tools to help projects raise funds and generate interest among potential users and investors. Some launchpads have become popular as a way for investors to participate in Initial Coin Offerings (ICOs) and early-stage projects, with the potential for high returns on investment.

Some of the well-known launchpads for Aptos are Meeiro, and Orion. Meeiro is a user-driven IDO launchpad on Aptos, connecting retail investors and projects together in a safe, secure, and fun environment. Orion or Orion Protocol is a launchpad and trading service that offers services for multiple blockchains, among which Aptos. For retail users, it offers access to CEXs, DEXs, swap pools, and initial coin offerings.

Aptos is set to launch its first Web3 game, Gran Saga Unlimited, in 2023. This game is expected to bring new levels of excitement and innovation to the gaming industry through its integration of blockchain technology. Players will be able to own and trade in-game assets and participate in other activities enabled by the Web3 ecosystem. While we wait for this game to launch, here are some other games that you can try out right away:

  • Cyber Pet: CyberPet is a unique NFT game that allows players to own adorable pets in a virtual world, also known as the Metaverse. The game allows players to earn CPM tokens through feeding, decorating, and growing their pets to participate in battles with other pets. CyberPet offers an immersive gaming experience where players can fully customize their pets and their surroundings through dress-up, house decoration, and XP or level-up using additional NFT power cards. The CyberPet ecosystem is built on two tokens, CPG (CyberPet Gold) and CPM (CyberPet Money).
  • Lamdamoon: Lamdamoon Metaverse is a high-end, experimental 3D NFT game built on Aptos/Polkadot and Unreal Engine 5. Players can build their own moonbase, spaceship, army, and tele-portals powered by dark matter. Users can explore the galaxy, secure land, mine resources, discover ancient alien technology, and fight monsters to earn Lamdanium rewards. Battles with other players in land and sky battles can also take place for the chance to take over assets. All achievements are permanently stored on the blockchain and cannot be taken away, offering an immersive and realistic 3D gaming experience powered by the world's most advanced game engine.
  • Aptos Flip is a double-or-nothing coin-flipping game on the Aptos Blockchain; it made history by becoming the first gaming platform to launch on the Aptos Mainnet. Launched on Oct 21, 2022, at 5:35 PM UTC, Aptos Flip promises 100% transparency to its users with 2.5% fees on every transaction and randomness ensured through a smart contract.
  • F1 Dog: F1 Dog is a race-to-earn game designed to digitize the dog racing industry. Players can own, train, breed, and race their dogs without prior knowledge of the sport or extensive gaming skills, making it accessible to a wider audience and providing opportunities for earning.
  • Plasmaverse is an RPG game that currently has a waitlist to join. The game is focused on scientists having to explore the metaverse.
Lamdamoon Gameplay Screenshot first published by Lamdamoon

Other Projects on Aptos

There are many different amazing projects on Aptos, and more and more are joining every day. Therefore, it's important to remember that while we made a selection of our favorite DApps at this current time, this list is in no way exhaustive. That said, these are some of the other projects on Aptos:

  • Hippo Aggregator or Hippo Labs is an aggregation mechanism on Aptos, through their in-house created developer tools, the Hippo Labs team helps Aptos developers build applications that are composable by default, and automatically aggregate all the liquidity on Aptos, os users can always trade with the best available rates.
  • Aptos Name Service: if you want some human-readable wallet addresses for your project or you simply want to have a specific name for yourself on the Aptos blockchain, this naming service is here to help you out.
  • Dialect Mobile Messaging: Web3's Smart Messaging Stack and an open-source toolkit for developers that aims to provide a more seamless communication experience for decentralized applications.
  • Tres Finance: is a accounting platform and Web3 treasury, that helps its users by giving them financial workflows such as balance calculations, audit and reporting for Web3 financials including Aptos, so they can control and manage their transactions.
“Tres Finance is enabling Web3 companies, especially in upcoming ecosystems like Aptos, to make sure they are financially compliant and are managing a business by the book. Recent event in the crypto world have proved the importance of audit, reporting and accounting done the right way.” - Tal Zackton, CEO and Co-Founder of Tres Finance.

Final Thoughts

In conclusion, the Aptos Ecosystem is at the forefront of development in blockchain, offering exciting new opportunities for users, validators, and developers alike. With the growth of liquid staking and the continued development of innovative tools and services, the future of the Aptos Ecosystem is looking bright. We can't wait to see what the next chapter holds for this thriving community and are excited to be a part of its growth and evolution.

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For more information about Stakin, visit the Website, Twitter, and Blog, or join the Telegram and Discord community.

DISCLAIMER: This is not financial advice. Staking, delegation, and cryptocurrencies involve a high degree of risk, and there is always the possibility of loss, including the failure of all staked digital assets. Additionally, delegators are at risk of slashing in case of security or liveness faults on some protocols. We advise you to do your due diligence before choosing a validator.

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