Econia Labs’ November Recap: Mainnet Launch and Gaining Move-mentum
From the Econia testnet trading competition to mainnet launch, Econia and its frontend partners have achieved significant milestones in the past month. From achieving 7.6 billion in trading volume in Econia’s first testnet competition to one of Econia’s frontend partners announcing a $2 million raise, many milestones have been achieved throughout November (or what we at Econia Labs like to call Move-ember).
Move-ember Campaign Highlights and Mainnet Launch
In November, Econia led two significant campaigns to strengthen the community, garner traction, and give back to Econians, all in preparation for the Econia mainnet launch.
Testnet Trading Competition Wrap-Up Econia Labs’ testnet competition, which spanned the last week of October, attracted over 1,000 traders from over 65 countries. The competition generated significant trading volume and demonstrated the global reach of the Econia protocol with over 7.6 billion in testnet trading volume. Econia Labs gave out over $5,000 in prize money and NFTs to top traders, bug bounty finders, and participants in one of the largest competitions Econia Labs and its frontend partners have hosted. Econia Labs also hosted a Twitter Space with all frontend partners and Aptos Labs to celebrate testnet trading volume, discuss insights from competition week, and highlight the overall experience.
Giving Season Campaign for Mainnet Launch To further build traction with the community, after coming off on a high note from the trading competition, Econia Labs also hosted a “Giving Season” event in partnership with Aries Markets, Kana Labs, Pontem Network (Gator), and SwapGPT. The event featured a $5,000 prize pool giveaway and saw over 1,000 participants using Econia frontends.
Mainnet Launch and Move-ing Defi Forward On November 28, Econia launched on the Aptos mainnet, enabling efficient, parallel transaction processing and global market access. The protocol uniquely blends CEX efficiency and DEX features for an improved trading experience and its atomic matching engine streamlines transaction execution by consolidating all steps into a single transaction.
Econia’s mainnet launch was also featured in over 10 global publications including top-tier media news sites like The Block and Binance News. With its innovative features, strong development team, and growing community, Econia is well-positioned to become the leading DEX in the Aptos ecosystem.
Celebrating Econia’s Integrators
Econia has five frontend integrators that have built frontends that allow retail traders to interact with the protocol: Aries Markets, Kana Labs, Pontem Network, Hippo Labs, and SwapGPT. These partners provide differentiated retail trading dashboards that provide users with a window into the Econia backend.
Aries Markets: Aries Market is a decentralized margin trading protocol on the Aptos Ecosystem. As the first borrowing and lending protocol on Aptos, seamless integration with Econia is crucial for their mainnet launch. This month, Aries announced that its TVL surpassed $10 million, marking a new milestone as the #1 ranked lending protocol on Aptos.
Hippo Labs: Hippo Labs develops tools at the SDK, compiler, language, and RPC/validator level to streamline the development and deployment process on Aptos. Their trade aggregator, Hippo, which enables users to find trading rates across multiple DEXs in the Aptos ecosystem, has integrated with Econia and is now routing the majority of aggregator flow through Econia’s price-efficient order book.
Kana Labs: Kana Labs is a complete DeFi trading suite where users can trade, swap and stake/yield Farm. This month, Kana announced their $2 million seed round and invited the co-founder of Econia Labs to co-host their Youtube Live event after the testnet trading competition. Kana has observed a steady stream of trades since launching on mainnet, suggesting sustained user activity and potential for further growth in the coming future.
Pontem Network: Pontem Network is a product development studio building products with Move on Aptos and other L1s. Recently, Pontem released Gator Trade, an aggregator that integrates the Econia order book, with more integrations coming soon. This past month, Pontem also released a bug bounty program to incentivize users to engage and find bugs to improve the overall trading experience, and a Concentrated Liquidity Pool Test offering cash prizes to users testing out the CLMM.
SwapGPT: SwapGPT is an AI-powered DeFi Aggregator & Liquidity Manager offering an interactive super dApp with trades, swaps, bridging, and risk-adjusted market-making strategies. One of the biggest highlights of SwapGPT is the natural language prompts that are simplifying the trading journey for users and their recent integration with Petra wallet.
