Building on blockchains can be difficult, Aptos Build hopes to fix that

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Today's newsletter is sponsored by Gravity, the layer-1 blockchain created by Galxe for mass adoption and an omnichain future. Galxe’s onchain distribution platform is integrated across 34+ chains, has 21 million users and 100 million monthly transactions. 

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For developers, Gravity opens the door to building on the largest onchain distribution platform effortlessly. For users, it promises a smoother, more secure journey through web3. It's not just about being onchain; it’s about being on the right chain every single time.

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Aptos Build wants to remove complexity and be the “one-stop shop” to scale apps

Earlier this month, during the Aptos Experience, Avery Ching, co-founder and CTO of Aptos Labs, unveiled Aptos Build on stage.

“We want to help change the way consumers and brands communicate,” Ching said.

(Listen to the live chat on Spotify, Apple or YouTube)

Aptos Build, which is currently in beta mode, aims to provide an easier suite of tools for developers to create, test and launch decentralized applications (dApps) on its network, sometimes within seconds.

“It’s your one-stop shop for thinking about how to scale your application for blockchains without worrying about the complexity of blockchains,” Ching said. “It’s really intended as a tool to help you build.”

Tthe goal is to help enable others build “what they’re best at,” Ching added, which is engaging experiences for customers and making it “as simple as possible.”

In general, companies want to connect better with their customers, Ching hinted, in regards to some partnerships Aptos has with entities like TOYMAK3RS, NBCUniversal and KYD Labs.

“Web3 provides that direct connection that’s not possible today with a lot of intermediaries that exist,” Ching said. “Intermediaries disrupt the relationship between a brand and their client.”

What’s another key factor for greater adoption?

Low costs for transactions, Ching said. “High transaction barriers where you’re paying multiple dollars per transaction, tens of dollars per transactions, it really limits what’s possible in web3.”

Especially in the payments space, in order to evolve that industry with blockchain technology, it needs to be cheap.

Aptos’ average fee per use in the past 30 days was about 2 cents, according to Token Terminal data, which is 99.8% lower than Ethereum users’ average of $9.53, during the same time frame.

“[Aptos] being able to support very very low cost transactions with high throughput and low latency enables a set of use cases that aren’t possible in other networks,” Ching said.

Check out the next section for more details and the full episode.

The latest Talking Tokens podcast 🎙️

For this week’s Thursday episode, we’re sharing my fireside chat with Avery Ching, Aptos Labs co-founder and CTO during the Aptos Experience event in Seoul, South Korea.

We discuss what infrastructure is important when building and scaling a blockchain, creating and finding new use cases within the Aptos ecosystem and its future outlook for 2025, among other things.

Talking Tokens episodes are released on Spotify and Apple Podcasts at 6AM EST or YouTube at 10AM EST every Tuesday and Thursday. Listen in!

Make sure to subscribe to keep up with the latest episodes. Feel free to leave a review and tell us your thoughts.

Monitoring blockchains

Looking at some of the biggest developments onchain.

• Asset management firm Wisdomtree launches a platform focused on connecting businesses, institutions and retail-facing apps with tokenization via the Ethereum blockchain

• Coinbase's Base Layer 2 shatters transaction records with over 4.5 million in a single day (The Block)

• Circle is expanding USDC to Sui’s chain, hitting its 15th network integration

• Speaking of USDC, its daily transfer volume on Base surpassed $10 billion for the first time (chart below)

  

  Source: Artemis

Taking on the tokens 

The total crypto market cap increased 4.3% in the past 24-hours to $2.16 trillion. It is up 5.88% over a 7-day period.

As for the largest cryptocurrencies by market cap…

These metrics were taken prior to publication on Thursday morning EST.

Other numbers we’re eyeing…

• $1.95M - that’s how much FTX’s accounting firm Prager Metis agreed to pay the US SEC to settle negligence allegations — from 2 audit reports it did for the now-dead exchange back in 2021 and 2022

Money and people moves

Latest updates on crypto startups that secured funding and industry players who are starting something new.

1. Coinbase and Goldman Sachs alum launch TrueX, a new crypto exchange built on stablecoins (Fortune)

2. Crypto VC Fund Dragonfly Seeks to Raise a $500 Million Fund (Bloomberg)

3. Hemi Labs raised $15M in a strategic seed round led by Binance Labs, Breyer Capital and Big Brain Holdings

4. Borderless Capital Introduces $100M DePIN Fund Backed by Peaq, Solana Foundation (CoinDesk)

5. Draper Associates leads $5 million seed round for web3 AI wellness firm CUDIS (The Block)

Talking points for the road 

Here’s some headlines and topics that you can talk about at your next dinner party, crypto event or on a first date to look smart (results may vary.) 

1. First Fed interest rate cut in 4 years sized at 50 bps (Blockworks)

2. Mashinsky’s trial has been delayed — here’s when the Celsius CEO trial starts (DL News)

3. Stablecoins May Cushion Fed Rate Cut Impact on Treasury Tokens, Standard Chartered's Regional Head Says (CoinDesk)

4. NFA but…here’s a guide to Trump’s World Liberty Financial crypto token: Who can buy it, when it will launch, and how the SEC might react (Fortune)

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Please note that this content is for informational and entertainment purposes only. Any views shared should not be considered financial advice, nor should it be used to make investment decisions. Cryptocurrencies are high risk and you should consult a financial professional before making any financial decisions. Make sure you do your own research. We may have a direct or indirect financial interest in content mentioned in this newsletter.