Aries Markets is marking its second anniversary with impressive growth across the board, solidifying its status as the top DeFi protocol on Move. The platform experienced a significant Total Value Locked (TVL) surge, up 2,500% in the past year. From $10 million on November 1, 2023, Aries’ TVL reached an impressive $260 million by November 2024, highlighting its rapid and sustained expansion in the DeFi space.
Milestone TVL Growth Puts Aries at the Top
When considering the borrowed assets, the final result is TVL = $700 mln, which is almost 25 times more than the previous year. This growth places Aries as the leading DeFi dApp on the Aptos network and for all Move blockchain-based platforms while focusing on the core values of innovation and community. Throughout 2024, Aries’ dominance rose as it outpaced the general TVL growth of the Aptos ecosystem, which saw a 6.5x increase.
Innovative Features Drive User Growth
Aries’ success is built on its commitment to innovative DeFi solutions. This year, Aries introduced “Efficiency Mode” (E-Mode), a game-changing feature that raises the Loan-to-Value (LTV) ratio to 90%, enabling users to maximize capital efficiency. This feature was key in increasing Aries’ borrowed assets to $400 million, reflecting its impact on user engagement and growth.
The Incentive Program, launched in January, has offered users additional yields of up to 30% APY on stable assets, further attracting users and deepening community involvement. Integration with Panora Exchange improved trading options, enabling on-chain limit orders and cost-effective swap routes that minimize fees and slippage. These enhancements have expanded Aries’ utility and appeal among DeFi users.
Aries hit a significant milestone with 120,000 followers on X, demonstrating its strong community base. An Anniversary Campaign offers $3,000 in rewards and 12,000 Aries Points, adding another layer to its community engagement efforts. Aries Points incentivizes users for platform activity, with Aries hinting at the future utility that is yet to be unveiled.
