Avery Ching - Money Moves Better on Aptos - TOKEN2049 Dubai 2025

Good morning and uh I'm Avery, co-founder and CEO of Aptus Labs. We're going to talk about Aptas being the global trading engine. And when I start with that, I want to begin with our our roots. I'm from uh Meta. I worked there for 10 years.

Worked on the Libra DM project uh ever since inception 2018. A lot of our team came from that project as well. more than 20 of us co kind of came together and said look even though we can't launch it within Facebook we're going to make sure this technology reaches mass adoption for billions of people around the world in apttos labs and so from that thought we've we've kind of come full circle now blockchains have been explored for so many different types of technologies from NFTTS to gaming uh to other things as well and what we've kind of realized over time is that they're really good for one thing that's really trading assets around the world at very very high speeds for billions people around the world. And so we're going to walk through that thesis and around how we want to see that financial revolution start to occur in the coming years. So as you think back um you know just 50 years ago on the New York Stock Exchange, there were people kind of yelling in a town square bids and ass selling orders on pieces of paper and uh then having the trades go out through ticker tickers as well as phone lines over periods of days.

We've moved a long way past those systems. uh now they're electronic, now their settlement times are shorter, but these are still very centralized systems existing in certain markets whether it's in New York with uh NASDAQ or London stock exchange and others. But this is also limiting to a lot of people. We want to make sure that this technology and this financial revolution happens around the world and that's where blockchain comes in to move all the world's assets completely on chain. It doesn't matter whether it's stocks, equities, um private IPOs as well as real estate and more.

All of it has to be tokenizable and tradable and more importantly worldwide accessible so that everyone can kind of benefit from the economy in a in a in a seamless fashion and something that applas technology is really well suited for. This means that capital marks be open 24/7 no borders no intermediaries and accessible directly to end consumers. It means that also everybody would have access. So no matter where you are around the world, as long as you have a phone, as long as you have internet connectivity, you can do whatever you want. You can have access to the different kinds of products you want to have.

And also with new technologies like AI and others going forward, you can have the power of the best kind of recommendations for financial infrastructure at your fingertips. And so ATAS has been building very slowly but surely towards this goal. It has the lowest fees in the market with stable coin transaction volumes of USDT at sub 100th of a cent. It has the fastest L1 blockchain times out there. We we were starting the year off at 200 millisecond block times, already the fastest.

They've been cut down to 130 millisecond block times. And that means that the endto-end finality, so when you submit a send from your wallet to the time you get the response back from it, it's about 650 to 600 milliseconds, which is incredibly fast. It means that any kind of website integration you want to do with a blockchain is now possible when you do it on Aptos. Every blockchain uh every internet website takes about two and a half seconds to load and so you can easily embed one, two, even three transactions within the time of that web page load. When it comes to move stable coins, Aptas is definitely the leader.

We've got USDT, USDC, and USD all natively integrated with APAs today with a combined TVL of more than a billion dollars. I think 1.1 billion today. Uh and what we've also seen is that the Optus Foundation has been a great partner towards developing everything towards this vision. What it means is uh pushing more than $200 million of incentives uh in ecosystem funding towards projects to develop this space.

And we're very very excited uh to release what we call Raptor, which is the endgame of BFT consensus. For those you've been following consensus protocols for a while, there was something called PBFT um back in the '9s. Um and ever since then there was kind of a big gap in research uh until um the team at at you know Meta basically and and Libra start to push on this this technology. We developed DAG based protocols uh including something called Schol um and just this last year we announced at our APA experience uh previous year that Raptor would be the endgame of consensus protocols. The paper is now live.

You can check out um our our web page, go to Twitter, uh look up what Sasha and others have written about it. But the idea is that by using some new novel consensus techniques around prefix ordering, we're able to get incredible throughput at very very low latency. Something that's been never possible in the entire Blake blockchain industry so far. And what this means is essentially faster, cheaper, better. So no matter even if we've had the 650 milliseconds times for low transaction throughput we can see that even at massive throughput when you kind of get that world scale you can achieve very very low uh finality times as well and that's something that's really revolutionary and it's going to change the way we think about technology going forward.

But for a trading infrastructure it's not just about building the best basic primitives. It's also about having specific things that are needed for traders. And so it's not about only what the applications can do. the applications are limited by what the infrastructure supports underlying and underneath it. And so we've seen a couple of primitives starting to pop out in the opt ecosystem that are going to really move the needle forward for building the best trading uh platform out there.

The first one is around a central limit order book. So today if you look at every blockchain out there they have uh different kinds of AMMs, central limit order books, perexes so on so forth but they can only move so fast and the reason why is they're limited by how fast this matching engine can happen. How many transactions can there be? Also, are these order books composable or are they dividing liquidity across a large number of applications? Our view is that we want to see that liquidity hub being formed within a we want to see the matches per second exceed anything traditional markets can do.

And we want to make sure this is built natively on chain uh for anyone to access going forward. And this is going to be a very novel liquidity hub that's only available on Aptos and something that's going to really differentiate and allow kind of these ideas of the NASDAQ, London Stock Exchange and others to be formed into a single pattern and a single location for um uh for even more efficient efficiencies in trading going forward. The second innovation that we want to talk about is scheduled transactions. Scheduled transactions mean that you know today you kind of wait for market orders. You see, oh, Bitcoin moved up to 90K, 100K, now I want to take an action.

that has a delay and that delay might cost you time, might cost you money, uh might cost you a trade. And so what we think we've added is something called schedule transactions where if you want to pre-place that order on the blockchain, it'll then be executed upon the notification that oh, the price of Bitcoin moved. And so there's no need to wait, there's no delay, and these orders can happen faster than the speed of light essentially because they're happening directly on the validators immediately when those transactions are occurring. A third thing we're thinking about that's very exciting is the idea of reorder transactions. So for anyone who's built an exchange in the past, the order of operations matters a lot.

You know, when you cancel, if you can't process or cancels fast enough before the kind of bids and asks, you can run into issues where spreads become very large and it can't be optimized over time. And so each of these three primitives are things that are going to be coming forward within Apptos in the coming months to help build the most advanced training platform out there. For performance, we're also going to see major improvements for Yaptus blockchain going forward. One of them is called execution pool. That's going to allow all the transactions to work together very seamlessly, very quickly.

And even if you have kind of a bunch of sequential transactions, they will not block anything else out there. What this kind of means is you have a very large shared state. You and I can transact without interfering with other people's transactions. And you can see massive parallelism kind of hitting those 250k transactions per second we talked about with Raptor supports for tiered storage. Maybe many of you have heard about the global state bloat problem.

As you get more and more state onchain, things get slower. But with tiered storage, we kind of maintain a hot cache of anything that's happened recently. And we're the first blockchain to support this kind of infrastructure. After opt experience, we talked about blockv2. We've talked about shardines, we talked about zapos, which are very new things coming forward as well.

Shardines allows the idea that a validator can scale out to 1 2 3 4 10 20 machines. And this will allow linear scalability for transaction throughput even on a globally shared state. We've seen examples of more than a million transactions per second with this infrastructure verifiable through code that we've already shipped out. You can take a look at yourself. Technologies like Zaptos are saying what look even you've got that 600 millisecond latency time now.

We can push that even further down in the future. Half a second should be no problem. Maybe 400 milliseconds or even lower. And the idea is that we're going to build that fastest training platform ever. We're also starting to improve the user experience around blockchains.

It's not just about the infrastructure. We have something called account abstraction uh in the form of move which allows you to really authenticate in different kinds of data schemes. There's something called permission signer which means that even this account with lots and lots of funds in it whether it's $100,000 a million $10 million in it. I don't want to every time I sign risk every single part of those funds. I want an ability to support granular signing of funds.

If I want to for instance deposit $10 a month into my Netflix uh payments uh or I want to support other kinds of operations, I can limit the scope of my signing to smaller granularities and support uh a lot more functionality going forward. Blind signing games, all these things can happen on APAs with this idea of permission signer in a very safe and scalable way. The last area that we want to talk about here is around stateless accounts. Stalless accounts allow you to kind of create accounts very cheaply, very fast and support billions of users without having to pay those costs of storage abstractions. The thing that also you need for a liquidity hub is around is about data liquidity coming in.

And so we're proud to announce something called X-chain accounts as well. X-chain accounts allow that unlimited capital inflow. For example, if you want to connect any wallet like your Phantom wallet, you can do that with Apptos using derived account abstraction. You sign a transaction, you can use CCCP to kind of transfer those funds and then voila, now you're accessing all your funds from any other chain in the world within the APOS ecosystem. So the idea is you have this global trading engine within a you have all the funds flowing from other chains into it and now you can do your operations very quickly and efficiently going forward.

Stable coins are definitely one of the key use cases uh of the blockchain going forward in the future. And we've seen Apptos consistently has that low, you know, subund millise sub one cent uh fees better than anyone else in the market. We're going to see massive massive growth in terms of the volume of of transactions moving around using Apptos. And we've seen also that people just prefer it because it's faster and cheaper. Uh anecdotally, a lot of people come and tell me they're using Apptos for transfers around the world, especially more in the Asia region.

Finally, I'll talk about RWAS. RDBAS is definitely something that's been talked about for a long time. STOs, RDBAs, what's happening here in the space, we've seen that RDBAs can actually have tremendous input uh and output when it comes to blockchains. In particularly, people are looking for different kinds of yield. Yield today is powered a lot by onchain incentives which are not sustainable and you've got to find different kinds of real world assets that are going to actually sustain the yield over time.

One example of this is the pack protocol. Pack Protocol is a new lending solution which supports um loans of 10 to 50K in emerging markets. They've already issued more than a billion dollars of loans on Apptos and supporting more than 20 million customers out there. These kind of loans really help people to find accessible um ways to kind of fund uh their new u income journey methods or support um short-term uh needs for health reasons. And it really is a a great tool for reducing costs for those people in those regions.

You might save up to twothirds of the loan amounts by leveraging the pack protocol as opposed to loans in your local region. We're also seeing pretty large adoption from some of the largest asset issuers out there. Apollo, Black Rockck, Franklin Tumbleton, and others have tokenized assets on top the Optus blockchain to provide those real yields um within their products. uh and that's something that we've also been very excited to see as it natively comes out there and so APAS here is also working in the space to help the regulatory side regulatory side of things publishing white papers alongside folks like Invesco uh BCG uh and others in the space so summing it all up together we believe that their world is really ready for that financial revolution everyone talks about the world coming on chain the economy but few are building towards that we're pushing forward with trading primitives we're pushing forward with stable coins and we're pushing forward real world assets to generate a lot of value uh for everyone worldwide and for all of us to see this industry move forward um in the future. And so with that, I'd like to thank you for your time and looking forward to seeing more withouts.