Aptos ramps up its DeFi foundation to benefit from CEX’s tribulations

ambcrypto.com:

Aptos [APT] is racing to update its DeFi foundation in partnership with Econia Labs to attract more next-gen DeFi products to its platform.

Although the move aims to benefit from sustained turbulences on CEXs (central exchanges), Aptos must deal with cut-throat competition and other challenges in the DeFi space. 

Read Aptos [APT] Price Prediction 2023-2024

DEXs saw increased trading volume during the Silicon Valley Bank (SVB) crisis in mid-March 2023. A similar trend is always seen whenever CEXs face challenges like transparency issues. Aptos is eyeing to benefit from CEX’s tribulations by ramping up its DeFi foundation. 

Econia Labs, a startup building decentralized order book infrastructure on the Aptos network, is streamlining integrations to attract more DeFi developers. It recently received $6.5 million in seed funding to improve the Aptos DeFi foundation. 

Econia Labs is pioneering a decentralized on-chain order book protocol for the @Aptos_Network, paving the way for a more efficient & transparent trading ecosystem.

Congrats Alex, Kiki & the team!