Thala Labs Overtakes PancakeSwap as Highest TVL Protocol on Aptos

The TVL currently stands at $25.3 million with a number of active liquidity pools, and the MOD-zUSDC pools have the most TVL.
Thala Labs surpassed PancakeSwap as the top protocol with the highest TVL on Aptos in seven days after its Mainnet launch.

The current TVL stands at 26.59 million across a number of active liquidity pools, with MOD-zUSDC pools having the most TVL. Whereas the THL-MOD pool is currently generating the most APR at 112.12%.

The Thala Labs protocol went live on April 6 following its Token Generation Event with its Move Dollar (MOD). The Move Dollar ($MOD) is an over-collateralized stable coin that vault depositors can borrow against whitelisted collateral.

Users can deposit supported collateral types to borrow $MOD and provide liquidity in ThalaSwap pools. Along with the Thala Labs protocol, PancakeSwap offered additional liquidity via its $THL - $APT LP farm. The PancakeSwap platform allowed liquidity providers to stake their tokens in exchange for $CAKE rewards.

In addition to the MOD stablecoin, ThalaSwap has rebalanced AMM with stable pools, weighted pools, and liquidity bootstrapping pools (LBPs) with permissionless, highly-customizable deployment options. Furthermore, ThalaLaunch leverages ThalaSwap’s liquidity bootstrapping pools (LBPs) to allow equitable distribution and effective price discovery.

According to the Thala Labs, LBPs use a decaying pricing curve to facilitate more equitable distribution of tokens than ICOs and IDOs. With LBPs, the token price starts high, declines gradually, and discourages front-running. In addition, LBPs facilitate effective price discovery, as users can buy and sell tokens anytime.

The Thala’s TGE lasted five days. A maximum of 7,000,000 $THL (8,000,000 $THL’s total supply) will be distributed to the community. As reported, Thala Swap will use the unsold allocation to bootstrap liquidity for $THL-$MOD and other core pairs.

As per the protocol, Thala’s future will be cross-chain, and $MOD will be expanded into other ecosystems. By leveraging LayerZero, the protocol claims to offer seamless, consolidated liquidity via the canonical issuance of both $MOD and $THL.

Thala ($THL) is trading at $0.6438, up 1.68% in 24 hours, with a market cap of $8.5 million