The realm of decentralized finance (DeFi) on the Aptos blockchain is witnessing a phenomenal surge, led by two lending dapps: Meso Finance and Superposition. These platforms are not just making waves but are riding on the crest of a tidal wave, propelling the total value locked (TVL) on Aptos to unprecedented heights. Since mid-April 2024, the blockchain has seen its TVL soar, hitting a six-month peak on September 9 at a staggering $436 million. Amid this upward trajectory, a closer inspection reveals that out of the top 15 DeFi applications on Aptos, only a duo has observed a downtick in TVL over the past month, underscoring the buoyant state of the ecosystem.
In what can only be described as a meteoric rise, Meso Finance has ascended the ranks to become the third-largest lending application on the Aptos landscape. The last month alone has seen its value skyrocket by 720%, catapulting over the $25 million threshold. This remarkable growth comes less than two months after its inception, transforming from a dapp with a modest $1 million in token pools at the start of August. Hot on its heels is Echelon Market, despite experiencing a 17% shrinkage over the same period, dangling at $28 million and barely maintaining its second place among lending dapps.
A significant driver behind Meso’s explosive growth is the influx of APETOS deposits, a meme coin rooted in the Aptos ecosystem that sprang up in June. The coin’s deposits in Meso leaped from non-existence to nearly $6 million in a mere four-day span.
Not resting on its laurels, Meso clocked in its second-best day for USD inflows on September 13, attaining $3.7 million. The platform now boasts significant markets in zUSDC, zUSDT, and stAPT—a liquid staked token (LST) symbolizing Aptos’ staked native coin via Amnis Finance.
Matching the frenzied pace is Superposition, another luminary in the Aptos lending sphere. Its TVL has ballooned nearly 400% over the last month, establishing a new record at $9.16 million.
The vaulting of Superposition’s TVL is primarily propelled by the monumental rise in STHAPT TVL, which skyrocketed from $1 million at the outset of September to an impressive $6 million, representing a whopping 65% of the total deposits. STHAPT constitutes an LST that represents the staked APT coin through Thala.
Entering the fray is Joule Finance, a relatively new entrant that has already shown significant potential. Launching on September 10 with an impressive $1.2 million in TVL, the platform has witnessed growth, reaching $1.85 million. Joule Finance currently extends its support to APT, USDC, USDT, and ETH, further diversifying its offering in the competitive lending landscape.
With the landscape of Aptos’ DeFi ecosystem evolving rapidly, staying informed is crucial. DeFi Daily News remains your go-to source for the latest and most compelling narratives around DeFi applications, breakthroughs, and trends.
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Conclusion
In a landscape as volatile and innovative as decentralized finance, Aptos is emerging as a battleground where new titans are born, and records are shattered almost daily. Meso Finance and Superposition stand as testaments to the rapid growth and dynamic change inherent to the DeFi ecosystem. Their staggering ascents are not just stories of financial milestones but of endurance, innovation, and the relentless pursuit of excellence. As the Aptos blockchain continues to evolve, one thing is certain: the DeFi landscape is an exhilarating rollercoaster, full of surprises and opportunities waiting to be seized. So, buckle up, for this ride is far from over, and the next chapter promises to be even more thrilling.
