Aptos Q1 Report: Aries Markets TVL increased by 714% to $249 million, becoming the protocol with the highest TVL in Aptos

Aptos released its Q1 2024 report, with Aptos's DeFi TVL increasing by 376% quarter-on-quarter to $573 million. Driven by the incentive program, the lending protocol Aries Markets' TVL increased by 714% quarter-on-quarter to $249 million, becoming the highest protocol in AptosTVL. The circulating market value of APT increased by 127% quarter-on-quarter, reaching $6.6 billion. Its growth rate exceeded that of companies with similar market values, and its market value ranking rose from 33 to 22 on a quarterly basis. With an increase in supply this quarter, APT's price increase was lower than its market value but still up 76% from last quarter. Aptos revenue (i.e., all fees collected by the protocol) grew by 37%, reaching $475,000; however it decreased by10% when priced in APT.

However due to inscription craze last year’s Q4 figures saw a surge around end of December. Excluding this point, APT’s total income for first Quarter has seen an increment. APT inflation rate started at annualized rate of7%, then dropped each year by 1.5% until it reached3.5%. This annual change occurred mid-October last year when inflation fell slightly below6.9%(this ratio is based on initial total supplyof1billionAPTs). Genesis supply includes initially allocated one billion APTs but does not include staking rewards.By end ofQ1,nearly31 %of genesis supply had been distributed, up 32%quarterly.Another4.7% of APTgenesis supply will be unlocked in Q2 2024.