Aptos Q1 report: Aries Markets TVL increased by 714% month-on-month to US$249 million, becoming the protocol with the highest TVL in Aptos

According to Jinse Finance, Aptos has released its Q1 2024 report, showing a 376% increase in DeFi TVL to $573 million. Aries Markets, a lending protocol, saw a 714% increase in TVL to become the highest protocol in Aptos TVL, driven by incentive programs.

The circulating market value of APT increased by 127% to reach $6.6 billion. Its growth rate exceeded that of companies with similar market values, and its market value ranking rose from 33 to 22. With an increase in supply this quarter, APT's price increased by 76% compared to the previous quarter, but its price increase was lower than its market value increase.

Aptos revenue (i.e. all fees charged by the protocol) increased by 37% to reach $475,000, but decreased by 10% when priced in APT. However, due to the inscription craze, the Q4 2023 figures soared around the end of December last year. Excluding this, the total revenue of APT in the first quarter increased.

APT's inflation rate started at an annual rate of 7% and decreased by 1.5% each year until it reached 3.5%. This annual change occurred in mid-October last year, when the inflation rate fell to just under 6.9% (based on the initial total supply of 1 billion APT). The genesis supply includes the initial distribution of 1 billion APT, but does not include staking rewards. By the end of Q1, nearly 31% of the genesis supply had been distributed, a 32% increase compared to the previous quarter. An additional 4.7% of APT genesis supply will be unlocked in Q2 2024.