The liquid staking protocol is approaching its TGE - here's why its creating a governance token and why it matters

RADAR

<div><div>Welcome back to Aptos Weekly Overview. The best place for Aptos community members to get up to speed on the chain’s latest updates, metrics, releases, insights, ecosystem developments and more. All in one place.&nbsp;New here? Subscribe here to get updates to your inbox. Every Thursday.<h3>By The Numbers</h3><ul><li>Aptos transactions this week: 28.5M (+4.1%)</li><li>Network transactions per second (TPS): 47.2</li><li>Active users: 4.7M (+0.5%)<ul><li>New users this week: 1.8M&nbsp;&nbsp;</li></ul></li><li>Total staked APT: 862.28M (-0.4%)</li><li>Aptos total value locked (TVL): $941.6M (-5.3%)</li><li>NFT weekly sales: 1.6K (-35.3%)&nbsp;</li></ul>The percentages and metrics are based on a 7-day timeframe from Flipside<a href="https://flipsidecrypto.xyz/cristinatinto/aptos-weekly-stats-d9Jj90"> data</a> as of March 17, unless noted otherwise.<h3>Inside the blockchain</h3>🌐What happened: Amnis Finance hitan all-time high of 43,400 unique active wallets on March 17, according to <a href="https://dappradar.com/dapp/amnis-finance/analytics?range-ds=30d&amp;range-ha=7d">DappRadar data</a>.🌐Why does it matter: Amnis Finance is a liquid staking protocol built on the Aptos blockchain and offers its users the ability to stake their APT tokens and earn yield on it. Unlike traditional staking, which locks a user’s token and restricts access, the protocol provides liquid staking tokens (LSTs) in exchange. This means users can earn staking rewards, while also using their tokens in other decentralized finance (DeFi) activities, such as lending or trading.Amnis Finance’s recent milestone in unique active wallets is an increase of more than 7,300% on the month. This is important because it proves LSTs have a product-market fit in the Aptos ecosystem. In turn, it can increase exposure for other dApps within the network.Additionally, Amnis Finance has an upcoming token generation event (TGE) for its AMI governance token. This can contribute to the uptick in usage because TGEs typically boost user activity.&nbsp;However, Amnis intends to shift toward a new governance structure through a decentralized autonomous organization. This means token holders can vote on protocol changes and operational settings. If more users are actively engaging with dApps within the Aptos ecosystem, it can boost total network activity. This increased engagement can demonstrate that Aptos is capable of handling a heavy user base.🌐The big picture: During a TGE, new tokens are distributed to users on the protocol who engaged in required activities to qualify. More often than not, TGEs can attract short-term interest because they create immediate opportunities for profit and draw in users with speculative mindsets.&nbsp;However, if Amnis Finance can deliver meaningful utility and long-term incentives for AMI token holders, it has the potential to shift this dynamic. This shift could foster sustained growth for both the protocol and the broader Aptos ecosystem.It is not unheard of for tokens to rise in price. For example,two notable airdrops <a href="https://dexscreener.com/base/0x37bb450b17721c6720040a150029e504766e9777">Kaito</a> and <a href="https://dexscreener.com/hyperliquid/0x13ba5fea7078ab3798fbce53b4d0721c">Hyperliquid</a> saw a rise post-TGE.&nbsp;Amnis Finance’s transition to a decentralized governance model could play a part in the sustainment of the amount of wallets actively engaging in the protocol. If this governance role is paired with other benefits such as staking incentives or other DeFi integrations, it could encourage users to hold and use AMI rather than sell it off.&nbsp;<h3>Ecosystem wins&nbsp;</h3><ul><li>Aptos Foundation launched<a href="https://aptosfoundation.org/lfm">LFM</a>, a program geared toward projects on the network that are preparing for its token generation event</li><li>Ekiden announced its Aptos-powered trading and <a href="https://x.com/ekidenfi/status/1901635880244088949">liquidity platform</a> for institutional and retail investors</li><li>Echo Protocol deployed<a href="https://vault.echo-protocol.xyz/">bitcoin staking on the Aptos</a> network to earn up to 7.7% APY</li><li>Ondo Finance, an institutional-grade digital asset platform, hit $16M in TVL on the Aptos network (shown below)</li></ul><div><a href="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6b89d7b2-e073-425d-a6ed-9e861542b259_1340x546.png"><div><img src="https://static.sosovalue.com/sosovalue/2025/03/21/f54c8296-3afc-4493-82cb-ff784e627acd.png"></div></a></div>Source: <a href="https://defillama.com/protocol/ondo-finance#tvl-charts">DefiLlama</a><h3>The community is makin’ Moves&nbsp;&nbsp;</h3><ul><li>Aptos Vietnam hosted its first event for AI and network builders - read a <a href="https://x.com/stan_ngx/status/1900881234408116458">recap thread on X</a> by its community lead&nbsp;</li><li>Propbase, an RWA tokenization platform for property markets, <a href="https://x.com/PropbaseApp/status/1900811001202921962">shared details</a> about it plans to leverage Aptos technology<ul><li>Prefer audio? The team hosted an <a href="https://x.com/PropbaseApp/status/1899867943661691083">X space</a> with Aptos CEO Avery Ching</li></ul></li><li>Learn about<a href="https://medium.com/kryzel/revolutionizing-sports-prediction-how-kryzel-is-reshaping-a-2-trillion-industry-3f95cf401528">Kryzel</a>, an AI-powered sports prediction protocol built on the Aptos network</li><li>Listen to REFERENDUM CEO<a href="https://x.com/i/spaces/1ypKdZWNPBgJW/peek">speak</a> about how it looks to leverage AI to eliminate bias for polls</li></ul><h3>By the headlines&nbsp;</h3>You might have seen these Aptos-related headlines recently…<ul><li>ON–322: Aptos Mega Issue (<a href="https://www.ournetwork.xyz/p/on-322-aptos-mega-issue?utm_campaign=ournetwork">OurNetwork</a>)</li><li>Bitwise CIO Bullish on DeFi, Sees Aptos and Sui as ETF Contenders (<a href="https://decrypt.co/310561/bitwise-cio-bullish-on-defi-sees-aptos-and-sui-as-etf-contenders">Decrypt</a>)</li><li>The Aptos Roadmap with Avery Ching (<a href="https://www.youtube.com/watch?v=Er__esH-cgc">Validated Podcast</a>)</li><li>Aptos Analysis: February 2025 (<a href="https://x.com/apt_everstake/status/1901053465679315229">X user Apt_Everstake</a>)</li></ul><h3>Join in the fun&nbsp;&nbsp;&nbsp;</h3>Want to dive into the ecosystem full-time? Find the latest job postings on Aptos Foundation <a href="https://www.linkedin.com/jobs/search/?currentJobId=3866613767&amp;f_C=79119792&amp;geoId=92000000&amp;origin=COMPANY_PAGE_JOBS_CLUSTER_EXPANSION&amp;originToLandingJobPostings=3866613767%2C3866613769%2C3866617360%2C3866619178%2C3866618246%2C3866614730%2C3866613765%2C3866617359%2C3866612993">here</a>.&nbsp;<ul><li>Submissions for the Move AI Hackathon close March 24 - <a href="https://move-ai-hackathon.devfolio.co/">register here</a> to compete for a piece of a $250K prize pool</li><li>Meet up with the Aptos community at the <a href="https://lu.ma/c21497xh">Move hacker house in Hong Kong</a> from April 1 - 5</li><li>Panora is hosting a <a href="https://app.panora.exchange/swap/aptos">month-long campaign</a> for users to earn rewards for swapping tokens using its protocol</li></ul>To get this newsletter delivered to your inbox every week, subscribe here.&nbsp;This product was built by <a href="https://token-relations.com/">Token Relations</a>.&nbsp;This information is for entertainment purposes only. It 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.</div></div>

Amnis Finance unique active wallets hit new high ahead of governance token launch