Ethereum and Aptos's Total Value Locked (TVL) in TruStake surges to a new high of $163M.
In the world of blockchain, TruStake has been making waves on the Aptos chain. The liquid staking product, launched by TruFin Protocol, has been a driving force behind the chain's recent surge in growth and activity.
Current Status
TruStake is a platform that allows users to stake Polygon's MATIC and Aptos' native APT tokens, in exchange for liquid staking derivatives - TruMATIC and TruAPT respectively. The platform is integrated with the Aptos blockchain, taking advantage of its high throughput and low fees. Since its launch, TruStake has been operational and has seen growing adoption within the Aptos ecosystem.
Recent Performance
The total value locked (TVL) in TruStake has been steadily increasing, reflecting user confidence and demand for liquid staking options on Aptos. The platform’s staking rewards are competitive with network yields for MATIC and APT, though exact APY figures fluctuate with network conditions. To ensure security and a smooth user experience, TruStake's user interface and smart contracts have undergone audits and improvements.
Ecosystem Impact
By enabling liquid staking for MATIC on Aptos, TruStake bridges cross-chain liquidity and staking services. It supports Aptos’ goal to attract DeFi activity and expand staking options beyond native tokens.
Record-Breaking Growth
The recovery of TVL on the Aptos chain has been significant, reaching a level not seen since mid-April 2024. This growth can be attributed to the performance of TruStake and other major dapps like Aries Markets, Amnis Finance, and Thala.
On August 23, TruStake saw record inflows with nearly $70 million worth of crypto being deposited for staking. As a result, the TVL on the Aptos chain surpassed the level it was at in mid-April 2024. In fact, TruStake became the fourth-largest DeFi app on Aptos and the second-largest liquid staking protocol on the blockchain.
The growth in TVL on the Aptos chain isn't limited to TruStake. TVL on both Ethereum and Aptos chains have reached new records. TVL on Ethereum reached $92 million on August 25, while TVL on Aptos surged to $72.2 million on August 24.
As of August 2022, MATIC constitutes 54% of TruStake's deposits, while APT holds a 46% share. TruStake's continued growth and success on the Aptos chain demonstrate its potential to drive further adoption and growth for the blockchain.
For precise real-time figures such as current TVL, number of active stakers, and APY rates, you may need to check the latest on-chain analytics or the TruStake official platform as those metrics can change frequently.
- The record-breaking growth of the Aptos chain can be attributed in part to the best performance of TruStake, with a single-day inflow of nearly $70 million worth of crypto deposited for staking, making it the second-largest liquid staking protocol on the blockchain.
- As the TVL on both Ethereum and Aptos chains continue to break records, the finance and technology sectors keenly observe the rise of TruStake, an innovative platform that offers liquid staking options for MATIC and APT, potentially driving further adoption and growth for the Aptos blockchain.
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