Aperture Finance on Manta Pacific: concentrated liquidity DEX and LM program
Thread1,089 words
Profiles Aperture, the leading DEX on Manta Pacific with USD 5.5m TVL, its Uniswap V3 automation features and LM program of 5,000,000 APTR. Estimates APR at 130% at USD 5m TVL and a USD 50m FDV.
Key claims
LM program distributes 5,000,000 APTR (0.5% of supply) across four pools
APR about 130% at USD 5m TVL, 33% at USD 20m TVL
Aperture closed a USD 5.3m seed round led by ParaFi
0/ I have been exploring the depths of Manta Pacific & found a great yield opportunity with 3-digit APR! 💸
Time to share alpha on a project that will most likely become the primary liquidity hub of @MantaNetwork! 🔱
Also, using it might earn two airdrops at once! 🪂
🧵 (0/26)
1/ Every great ecosystem needs a DEX with deep liquidity.
Manta Pacific is definitely on a trajectory to become a significant L2 with a TVL of over USD 10m just one month after mainnet launch! 📈
And with USD 5.5m in TVL, the clear leader in the ecosystem is @ApertureFinance!
2/ So what is @ApertureFinance? 🌀
Aperture is building ApertureSwap, the first Concentrated Liquidity DEX!
It's built on Manta Pacific's ZK execution layer, with support for more networks coming soon! 👀
3/ The DEX is modeled after Uniswap V3, but comes with several native LP automation features and native solutions for limit & range orders!
4/ It's the first native DEX on Manta Pacific, where it is likely to take a leading role within the emerging DeFi ecosystem!
But why Manta Pacific? 🤔
Manta Pacific is a L2 built on modified OP Stack. What distinguishes it from the other rollups out there are mainly two things!
5/ 🌟 The First ZK Execution Layer on Ethereum
The integration of universal zk circuits, an out-of-the-box solution for zkApp development will make it easy to build private zkApps in Solidity.
For the first time, zkApps with security deeply rooted in Ethereum become possible!🥷
6/ 🌟 Hyper Scalable & Super Cheap
Thanks to the integration with @CelestiaOrg for data availability, Manta Pacific overcomes the main scalability bottleneck that rollups face on Ethereum!
This abstracts around 80-90% of fees compared to other rollups once live on mainnet! 🚀
7/ So no wonder, @ApertureFinance has some impressive growth stats, with a TVL growth of 385% over the past 7 days! 📈
Another catalyst and a reason why you should be LPing on Aperture right now, is the liquidity mining program that Aperture is currently running! 🪂
8/ In total, 5,000,000 Aperture tokens, equivalent to 0.5% of token supply, will be distributed to liquidity providers (LPs) across four specific pools! 💸
9/ Let's have a look at these pools! 👇
🔹 2,500,000 APTR (0.25%) will be awarded to LPs in the WETH-USDT or WETH-USDC pool.
🔹 1,250,000 APTR (0.125%) will be awarded to LPs in the USDC-USDT pool.
🔹 1,250,000 APTR (0.125%) will be awarded to LPs in the WETH-wstETH pool.
10/ Participating users will earn incentives based on several factors:
🔹 Size of TVL contribution
🔹 Duration of TVL contribution
🔹 Organic trading fees earned (i.e. non incentivized LP revenue)
🔹 Contribution to the depth of spot price
11/ Wen token?
Tokens earned through the LM program are issued as follows:
🔹 10% APTR at TGE
🔹 90% APTR vested over 12 months
Aperture aims for TGE in Q1, 2024 if the market and other conditions permit, so you might get your tokens soon!
12/ But am I not too late? 🤔
NO!
The liquidity mining program runs until the 17th of October! 📅
13/ Isn't APR down hard already? 🤔
NO!
At 5 million TVL, assuming a fully diluted valuation of $50m & 0.5% of supply being distributed, users get a very competitive APR of 130%! 📈
Even with TVL reaching $20 million, the APR remains a robust 33%! 💰
14/ But wait, didn't you talk about two airdrops?! 🤔
YES!
@MantaNetwork will airdrop MANTA tokens to early users as well! 🔱
So, providing liquidity on @ApertureFinance might earn you both APTR and MANTA! 🪂
15/ Currently, @MantaNetwork is also running the #MantaFest campaign which rewards users with points that can be used to mint exclusive NFTs and that will likely play a role in the airdrop distribution! 🪂
x.com/zerokn0wledge_/status/1709495838945218681
16/ After bridging and social actions, DeFi will be next! 👀
So swapping on @ApertureFinance or providing liquidity will earn you points to maximize your MANTA airdrop! 💰
17/ But back to @ApertureFinance and its features, because there is a lot more to discuss! 👇
The team has a long track record in building some great tooling around Uniswap V3, that gives you an idea of the features their DEX on Manta Pacific will bring to users! 🌀
18/ This includes three core features designed to improve the experience of providing liquidity on Uniswap V3! 👇
19/ ⚙️ Automated Position Rebalance
This can be done based on pricing, pool ratio, and time!
Example: If ETH rises to $2,500 then rebalance my ETH-USDC position back to 50-50.
20/ ⚙️ Automated Position Closure
This can be done based on pricing, pool ratio, and time!
Example: If ETH rises to $2,500 then remove all liquidity and return the assets to my wallet.
21/ ⚙️ Auto-Compounding of Fees
Compound fees back into the position at a frequency that is optimized for gas costs.
22/ Additionally, @ApertureFinance has introduced Revenue Earning Limit Orders!
How does it work you ask? 🤔
By providing single asset liquidity at a single tick (price point) on UniV3 you can effectively recreate the limit order experience and earn fees.
23/ Aperture has created an easy & intuitive interface to place limit orders on UniV3. ✨
For simple UX, Aperture also automatically closes the position once the asset has been 100% converted.
Users will earn a minimum 0.3% in fee revenue in addition to zero slippage! 💰
24/ @ApertureFinance is the flagship protocol on Manta Pacific and is built by a strong and fully doxxed team based in Silicon Valley and Hong Kong.
The team has backgrounds at Netflix, Google, Amazon & Stanford.
They have been building in the DeFi space since 2021 already! 🌀
25/ The project is also well funded, having successfully closed a $5.3 million seed round led by ParaFi Capital, Arrington XRP Capital, Costanoa Ventures and Divergence Ventures among others in 2022.
26/ So if you are looking for a place to earn a juicy yield in the form of the token of a highly promising project, check @ApertureFinance! 🌀
Get started today on app.aperture.finance/! 🚀
Tagging some DeFi & L2 chads to follow! 🫡👇
@splinter0n
@Louround_
@thesaint_
@0xSalazar
@poopmandefi
@ShivanshuMadan
@0xDinoEggs
@jinglingcookies
@CJCJCJCJ_
@wajahat
@MTorygreen
@wacy_time1
@hmalviya9
@splinter0n
@kunalgoel
1/2
And some more 🫡👇
@Subli_Defi
@ThorHartvigsen
@DOLAK1NG
@0xShinChannn
@andyyy
@francescoweb3
@stacy_muur
@tomwanhh
@Defi_Warhol
@Haylesdefi
@andrewmoh
@0xTindorr
2/2
I hope you've found this thread helpful! 🫡
Make sure to follow me @zerokn0wledge_ and @ApertureFinance to stay up to date! 🌀
Like/Repost of the below post is also highly appreciated! 🙏👇
9 images on X
What came next · since 11 Oct 2023
Show how the covered asset moved
This breakdown analyzes the project without making a call on the token, so price moves since publication are shown as market context.
Mentioned for context
No reliable price feed for $APTR.
Since then
No follow-up pieces on this subject yet. This is the latest take.
Daily closes in USD from DefiLlama and Yahoo Finance. Only a bullish or bearish call in a thesis or market take is tracked; explainers, lists, maps and mentions are neutral context. Not financial advice.