Aptos Q3 report: The number of daily active addresses increased by more than 300%
Compile - Odaily
Aptos is a PoS blockchain that prioritizes speed and stability, created by the original Diem developers.
Aptos leverages outstanding technologies such as AptosBFT and BlockSTM to theoretically achieve over 100,000 TPS and less than one second latency. In addition, it provides a reliable, fast and flexible development environment using the Move language, providing developers and users with a blockchain experience that meets their needs.
Recently, Aptos released its 2023 Q3 quarterly report, and Odaily compiled the original text. This report summarizes the recent development of Aptos and looks forward to future plans.
Q3 2023 Highlights
Key events and updates
Partnerships linking Web2 and Web3: Microsoft, Sushi, Pyth and Flowcarbon:
In partnership with Microsoft, Aptos is working to integrate the “Aptos Assistant” feature, which aims to connect the AI ecosystem with blockchain. The move puts Aptos at the forefront of the AI and DeFi revolution.
Aptos is the first non-EVM chain on SushiSwap.
Aptos will work with Pyth to introduce Oracle solutions that support the Peace data source, providing permissionless data source access to dApps in the Aptos ecosystem.
In partnership with Flowcarbon, Aptos will launch a new project on the Aptos network offering high-quality carbon emissions rights.
Q3 key events
Release of Wormhole Connect v 0.0.7; introduction of mobile APT staking support in Petra wallet; launch of Surf; announcement of Martian asset management tool.
The latest Wormhole Connect v 0.0.7 provides developers with a user-friendly development interface.
The Petra Wallet App enhances staking accessibility by enabling transfer staking.
Thala Labs launched Aptos SDK TypeScript interface Surf to improve development convenience.
Martian Wallet introduces a portfolio dApp that allows users to manage tokens and NFTs associated with their Aptos Network accounts. The app offers various features including bridges, price tracking, and staking.
METAPIXEL project suspended
On September 3, the NPIXEL Meta department within Aptos, which was actively developing the highly anticipated Metapixel (METAPIXEL) project, suddenly announced its dissolution.
In the third quarter, a total of 8 AIPs were adopted and integrated into the protocol, the most notable of which are AIP-35, AIP-39 and AIP-37
AIP-35 addresses network loss and enhances security by charging for transactions that cause errors, rather than simply rolling them back.
AIP-39 enhances user convenience and stimulates network activity by introducing a mechanism that allows specifying a gas bill payment account that is different from the sender of the transaction.
AIP-37 creates a more efficient network by filtering duplicate transactions within blocks.
Aptos achieved other important technology milestones, including the introduction of digital asset standards.
Key indicators
On-chain performance
Network activity
Since the mainnet launch in Q4 2022, Aptos’ daily trading volume has shown a gradual increase and experienced a significant rise in Q3 2023. Especially in the third quarter of 2023, the platforms daily transaction volume reached 489,000, an increase of 207% from the previous quarter. During the mainnet launch in Q4 2022, transaction volume increased due to airdrop activity, while the Aptos token unlocking event resulted in a sharp increase in transaction volume in July and August.
The number of daily active wallets reflects the trend of daily transaction volume, showing that transactions are relatively evenly distributed among wallets, rather than concentrated on a specific wallet. In the fourth quarter of last year, with the launch of the mainnet and related airdrops, the number of active wallets reached its peak. Subsequently, similar to daily transaction volume, the number of daily active wallets rose to approximately 69,000 in the third quarter, a 329% increase from the previous quarter.
Since the launch of the Aptos mainnet in October 2022, the total value locked (TVL) has remained stable, ranging between $600 million and $700 million. More than half of the TVL on the Aptos network is held by Thala Labs’ Thala Swap and LiquidSwap, the two largest decentralized applications (dApps) in the ecosystem.
cyber security
In Q3, Aptos had 113 validators globally, located in 25 countries, including South America, Europe, Russia, Japan, and South Korea. It is worth noting that there are 13 validators in South Korea alone, which highlights the importance and potential of the Korean market for Aptos. The United States has the most validators, 14 in total. Currently, 868.8 million APT tokens are staked on the Aptos network, accounting for 81.8% of the total supply.
development activities
The Aptos network continues to benefit from contributions from an average of about 60 developers, with code commits averaging 100 per week. Especially in the third quarter, the number of developers increased by about 8% compared to the second quarter, and the number of weekly code commits increased by 15%. These metrics reflect ongoing and active maintenance of the network.
Governance, partnerships and key updates
Governance (AIPs)
A total of eight AIPs (Aptos Improvement Proposals) were implemented in the third quarter. The important highlights are as follows (see the figure below):
AIP-35
Before AIP-35, if a developer submitted incorrect code, the transaction would fail and no fee would be charged. However, the implementation of [AIP-35: Enable charge_invariant_violation] on July 18 introduced the ability to charge for errors in transactions, which is a positive step to reduce damage and enhance network security.
AIP-39
Previously, gas fees were paid by the sender of the transaction. However, [AIP-39: Enable Fee Payer] implemented on August 23 added the feature of third-party payment of fuel fees. Similar to Ethereum’s PAY MASTER, this improvement is expected to significantly improve user experience, and the expected convenience will bring vitality to the network.
AIP-37
AIP-37 is a proposal designed to enhance Aptos by filtering out duplicate transactions within blocks before being submitted to the network. With the implementation of [AIP-37: Enable Transaction Deduplication] on July 18, duplicate transactions are no longer submitted to the network, which is expected to reduce network costs and improve security.
Partnerships
In the third quarter, Aptos established several key partnerships in the Web2 and Web3 space. Below is an overview of key collaborations during the quarter.
Microsoft
In August, following extensive collaborations with several well-known Web2 companies, Microsoft joined the list of companies building on Aptos, including Google Cloud, Mastercard, NBC Universal, KYD Labs, NPIXEL (METAPIXEL), MoonPay and Franklin Templeton.
This strategic collaboration aims to integrate the AI ecosystem into the blockchain. Leveraging Microsofts advanced AI technology, the collaboration will introduce Aptos Assistant with natural language support. Users will benefit from AI assistance in coding implementation and dApp development, placing Aptos at the forefront of AIxDeFi innovation.
SushiSwap
At the Aptos Hackathon in Singapore, Aptos announced a partnership with cross-chain DeFi platform SushiSwap. This partnership is noteworthy because SushiSwap primarily supports various EVM-compatible chains such as Ethereum, Phantom, and Polycon, making Aptos the first non-EVM chain to establish a partnership with it.
Pyth
Aptos has partnered with Pyth Network, which provides oracle solutions. The partnership involves making the Peace data feed available on the Aptos mainnet and hints at the potential for introducing an automated price scheduler. All programs developed on Aptos will have permissionless access to Peace data sources.
Flowcarbon
The Aptos Foundation has launched a collaboration with Flowcarbon on sustainability initiatives. Flowcarbon is currently leading the way in tracking on-chain carbon emissions, and the new project will provide high-quality carbon emissions rights on the Aptos network, helping to reduce carbon emissions and promote sustainable development. The role this collaboration plays in tracking carbon offsets on the Aptos network is noteworthy.
Other partnerships involve well-known domestic entities such as MARBLEX, Rakuten Group and Neowiz’s Intella X. Additionally, the partnership with KYD Labs designates Aptos as the official ticketing partner of the WonderBus Music and Arts Festival.
On the other hand, some partnerships are showing signs of weakening. Npixels Meta department, which was actively involved in Aptos highly anticipated METAPIXEL project, suddenly announced its dissolution, causing the Metapixel project to be suspended indefinitely.
Key events and feature releases
Key events and feature changes in Q3 include:
Wormhole Connect v 0.0.7
The latest Wormhole Connect v 0.0.7 enables any Aptos developer to add bridging functionality directly to their dApp with very little code. This helps simplify the developer experience, making it easy to modify the user interface through clean code.
Inderxer.xyz（Byzantion）
Inderxer.xyz (Byzantion) has launched a notification system that enables users to receive alerts about NFT transactions or accepted bids on any of Aptos’ markets.
Petra wallet
Petra Wallet mobile terminal supports APT staking, expanding the staking capabilities of mobile users. This move significantly lowers the barrier to entry to the network, making it more cost-effective and easier to reach a wider audience.
The launch of Surf
Thala Labs has introduced Surf, a typescript interface that leverages Aptos React hooks and solves existing limitations in the Aptos SDK. Surf provides a solution to existing problems.
Martian Asset Management Tools
Martian has launched an asset management tool that allows users to manage tokens and NFTs in their Aptos network accounts. This dashboard provides a comprehensive view of owned tokens and NFTs, with built-in functionality to track token prices.
Additionally, the Aptos ecosystem experienced multiple events in the third quarter. Econia Labs introduces new governance tools and releases with Aptos CLI, and Msafe launches second-generation multi-signature solution.
Digital asset standards
Aptos achieved an important technology milestone in the third quarter with the launch of the digital asset standard. Token standards play a key role in establishing a shared foundation for creating, managing, and interacting with digital assets in the blockchain ecosystem. Aptos DA provides builders with unparalleled flexibility, configurability, and scalability.
Conclusion
In Q3 2023, Aptos experienced substantial growth in both its technology and ecosystem. Transaction volume and active wallets increased by more than 200% year-over-year, and developer activity also increased by high single digits. Despite the unexpected shutdown of the highly anticipated gaming project MetaPixel HQ, Aptos made up for the setback by revealing strategic partnerships and introductions with companies and projects including Microsoft, Peace, Sushi, Wormhole, and more. In addition, Aptos launched eight AIPs in the third quarter, reinforcing its commitment to improving network performance. Additionally, the launch of the first digital asset standard marks an important milestone, greatly increasing the usability of the Move language.
