Econia Labs’ January Recap
Bug Bounty, Post Aptos Summit Reflections and a Resilient Start To 2024
What a way to start the year! Two months into Mainnet, January has marked another month of significant milestones and collaborative endeavors for Econia Labs and its frontend partners. Let’s delve into the key highlights!
Econia Stats
Since Econia’s launch in early November, Econia has been working without interruption, and within these past two months Econia has cleared over 30 million in USDC spot trading volume on mainnet with over 46,000 Unique Addresses, and ~389k in rolling 24hr volume! 2024 couldn’t start any better!
The Aptos Summit
The Aptos Summit in Palo Alto was a key event for the Econia Labs team, allowing us to connect with established and emerging protocols. The five-day Summit was Jam-packed with demos, announcements, and updates from the Foundation and ecosystem projects. Thanks to Aptos’s smooth organization, the summit provided a platform for valuable discussions and collaboration.
The event’s success has fueled our excitement for Aptos’s future, as shared visions and enthusiasm among protocols promise exciting developments in decentralized finance. While future iterations and improvements of Econia were discussed, we took the opportunity to talk with various industry leaders regarding liquidity & protocol design.
Econia Labs and the Aptos Labs team, delved into discussions on benchmarking and monitoring gas efficiency, analyzing transactions per second (TPS) in both single and multiple markets. We also explored benchmarking latency related to order execution, including filling, evicting, and canceling orders. Furthermore, Econia engaged with various data providers, such as Dune and Flipside, to explore methods for supplying data points accessible to the general public. Overall the week was abundant with the kind of vibes that get builders excited and grew our excitement for being built on the Aptos Blockchain.
Calling All Bounty Hunters
Econia Labs also introduced a robust Bug Bounty Program in collaboration with ImmuneFi, allowing participants to earn rewards totaling up to 100 thousand USC. This initiative underscores our unwavering commitment to ensuring our users' security and seamless.
Partner Progress
As you may already know, our five frontend integrators that allow traders to interact with Econia have all been working hard these past months. Here’s a small breakdown of what they’ve been cooking:
Aries Markets: As a decentralized margin trading protocol, they have achieved a remarkable milestone by surpassing $60 million TVL. This new all-time high coincided with boosted rewards featuring APT incentives. Additionally, AriesMarkets announced a strategic integration with the OKX wallet, further enhancing its functionality within the Econia ecosystem.
Kana Labs: Kana Labs achieved over 1.4 million in trading volume, conducted more than 25,000 trades, and attracted over 4,000 unique wallets on Tradebook, which operates on top of the Econia order book. The company also enhanced its capabilities by integrating with Wormhole, enabling seamless transactions between Ethereum Virtual Machine (EVM) and non-EVM environments. Moreover, Kana successfully launched on the Arbitrum Mainnet, significantly expanding its reach across various blockchain ecosystems.
Pontem Network: Pontem, aligning with Econia’s dedication to bug bounties, launched its Bug Bounty Program to enhance the overall user experience. In a significant development, Pontem secured a $6 million raise to support the development of Ethereum and Move-compatible applications. Lumio, Pontem’s Move Layer 2 solution, adds another layer of innovation to their ecosystem.
SwapGPT: SwapGPT became the first Aptos Aggregator on their Aggregator volume dashboard featured in DefiLlama. They also actively participated in the Aptos Summit, allowing them to connect with industry leaders and collaborators.
