TruStake, a liquid staking product offered by TruFin Protocol, witnessed a significant surge in its total value locked (TVL) at the end of August. The platform’s total liquidity more than tripled, rising from a monthly low of $49.7 million on August 6 to a record $163 million on August 24, according to data from DefiLlama.
TruStake enables users to stake two tokens on different chains: Polygon’s MATIC on Ethereum and Aptos’ native coin, APT. In exchange, they receive TruMATIC and TruAPT, respectively, which mirror the price of their underlying assets and can be used in decentralized finance (DeFi). TruFin added support for Aptos at the end of May 2024.
TVL on both chains has surged to new records. TVL on Ethereum hit a record $92 million on August 25, while TruStake’s liquidity on Aptos surged to a record $72.2 million on August 24, becoming the fourth-largest DeFi app on Aptos and the second-largest liquid staking protocol on the blockchain.
Currently, MATIC constitutes 54% of TruStake’s deposits, while APT holds a 46% share.
On August 23, the liquid staking platform saw record inflows, with nearly $70 million worth of crypto being deposited for staking. The figure exceeds previous records by over four times.
In the future, TruStake plans to add support for NEAR, Ethereum, Solana, and Injective, expanding its liquid staking offerings across more blockchain networks.
TruStake has been the best performer on the Aptos chain during the past week and 30 days, gaining 144% over the week and 98% during the past month.
Thanks to the increase of TruStake and other major dapps, such as Aries Markets, Amnis Finance, and Thala, the TVL on Aptos has extended its recovery to the current level of $422 million, which is the highest level since mid-April 2024.
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