Thala Labs takes over PancakeSwap as highest TVL protocol on Aptos
TVL currently stands at $25.3 million with a number of active liquidity pools, with the MOD-zUSDC pools having the most TVL.
ThalaLabs: New protocol on Aptos
Thala Labs surpassed PancakeSwap as the top protocol with the highest TVL on Aptos in seven days after the Mainnet launch.
The current TVL stands at 26.59 million across a variety of active liquidity pools, with MOD-zUSDC pools having the most TVL. While the THL-MOD pool currently generates the most APR at 112.12%.
The Thala Labs protocol continued April 6 after its Token Generation Event with Move Dollar (MOD). Move Dollar ($MOD) is an over-collateralized stablecoin that vault depositors can borrow against whitelisted collateral.
Users can deposit supported security types to borrow $MOD and provide liquidity in ThalaSwap pools. Along with the Thala Labs protocol, PancakeSwap offered additional liquidity via its $THL – $APT LP farm. The PancakeSwap platform allowed liquidity providers to stake their tokens in exchange for $CAKE rewards.
In addition to the MOD stablecoin, ThalaSwap has rebalanced AMM with stable pools, weighted pools and liquidity bootstrap pools (LBPs) with permissionless, highly customizable distribution options. Furthermore, ThalaLaunch leverages ThalaSwap’s liquidity launch pools (LBPs) to allow fair distribution and efficient price discovery.
According to Thala Labs, LBPs use a declining price curve to facilitate fairer distribution of tokens than ICOs and IDOs. With LBPs, the token price starts high, gradually declines and discourages going ahead. In addition, LBP facilitates efficient price discovery, as users can buy and sell tokens at any time.
Thala’s TGE lasted five days. A maximum of $7,000,000THL (8,000,000$THL’s total supply) will be distributed to the community. As reported, Thala Swap will use the unsold allocation to start up liquidity for $THL-$MOD and other core pairs.
According to the protocol, Thala’s future will be cross-chain and $MOD will be extended to other ecosystems. Leveraging LayerZero, the protocol claims to offer seamless, consolidated liquidity via canonical issuance of both $MOD and $THL.
Thala ($THL) is trading at $0.6438, up 1.68% in 24 hours, with a market cap of $8.5 million.
What is Thala Labs:
Thala Labs is developing an over-collateralized, decentralized stablecoin, which will be launched first on the Aptos blockchain.
The protocol also works on other products to ensure MOD’s presence on the Aptos blockchain. These include an AMM, which will offer preferential fees and features to pools integrating MOD, and a launch pad, which will encourage all Aptos projects to diversify their treasury assets into MOD.
Learn more about Thala Labs:
Website | Twitter | Discord | Medium
