Money Moves Fastest on Aptos by David Wolinsky

and now right on time let's go ahead and get this thing started uh the talk is about money moves fastest on apos and that's an interesting topic because you know money moves fast everywhere but in particular we've been focused on trying to figure out how to provide the fastest web 3 framework for movie money and money comes in many different forms and shapes and sizes and that's why we go to rwa doxyz First where you can see Aptos has a ton of RW on aptop we are the fourth largest chain in terms of tvl for rwas and you can see right over there about uh what a month ago we saw PA com into apas pack brought over a billion dollars worth of uh uh what loans and whatnot and as a result we saw about $250 Million worth of tvl hit our rwas and this involved about a billion dollars of billion US Dollars and 20 million users and you can see right there we've got roughly about 335 Million worth of rwas as of about yesterday and the other cool thing is we've got about $700 Million worth of stable coins so budding budding money markets on apos and I don't know much about what's going on this slide but I stole it from my good friend who works on institutions at apos and he basically showed me a handful of ways in which rwas make a lot of sense in web 3 in particular you get the benefits of having uh fund settlements and movements 24/7 versus waiting for end of day and other activities uh and you get reduce fees and ultimately you're able to generate roughly 17 bips uh above what you would do in standard money markets and you know at the trillions of dollars of which we have inside of these different asset classes you can imagine making quite a bit of hundreds of billions of dollars uh to investors if we were to move more assets into rwas and so here's an example of when paed came into apos and you can see roughly they're pumping in 200 transactions per second on Aptos and this seems pretty impressive but if you know anything about Aptos you know we can do roughly 10 to 20,000 transactions per second and so our Engineers saw this and they came to the rescue and analyzed the packed smart contract for optimal efficiency and maybe I'm too far away there we go and because of the efficiency that our Engineers brought into the packed contract we bumped this up by 900 transactions per second which resulted in them being able to migrate all of their bli their billion dollars over almost instantaneously you can see we went from having to take hours to taking less than an hour to move all th those assets on chain this is the power of apos but we haven't talked about fastest that's just throughput so what what is fastest well let's look at what happens when I've got to go and give my son his allowance and I'm going to do that in apos because you know that's what we modern parents do so I'm going here I go to his AP name I say I'm going to give him usdt pop in $25 I'm pretty generous and I click Send and before you even know it it's already sent and you that Split Second I spent more time preparing to send it than it took to actually send and it took 64 seconds from the time that I clicked send the the time that my son had his allowance kid spent it even faster and well speed is one thing but what about the cost and this is where apas further differentiates Itself by having the lowest fees for doing any sort of transfer we charge a fraction of a fraction of a Cent and so a different way of looking at it is you can roughly pay you can get what uh 10,000 no 100,000 transactions for roughly $1 try finding another Network that you can do and so what what is the technology behind all this and I'm certainly not going to go all of that within the uh few minutes that I have remaining but I I just want to briefly introduce you to what abas technology is so that you can do some research at home uh at the bottom layer we have this high performance layer one the high performance layer one consists of the best in consensus protocols that you'll find out there it's multi-stage pipeline decoupled consensus deep coupled execution and effectively allows us to get that sweet sweet sweet subse finality that you won't find on any other chain and it also empowers us to get that tens to 20s of thousands of transactions per second with a future possibility of moving towards sharted execution with still single execution single uh proposal kind of Frameworks that allow you to have unified State all within you know giving you on unlimited uh or infinite horizontal capabilities on top of this amazing execution engine we have the best in terms of smart contract programmability in move move is a new language that came to fruition as part of our endeavors at Facebook to really solve a lot of the foot guns that exist in modern smart contract programming especially you know in the solidity case uh the key coolness of move is the notion of resource oriented progr programming in typical smart contracts when you move a value from one account to another say I'm going to transfer the 25 usct to my son you're literally subtracting 25 from one account and adding 25 to another if I messed up my smart contract and I didn't move that $25 into my son's account it would just be lost and that's just a a byproduct of solidity where we just adding subtracting integers in the case of move we actually move around resources I'm literally taking 25 coins and moving those 25 coins over into my son's account if I if the smart contract wasn't written correctly and those 25 coins weren't moved to my son's account or moved to an account for that matter the transaction would be aborted and the coins would still be safely in my account so we eliminate the risk of any sort of lost assets on chain and we couple that with the fact that we prevent reiny which makes it really one of the safest places to be doing development in web 3 finally we've been really focused on making it so that you can get effectively cloud-like programmability with inside of web 3 and so you don't have to spend all of your time figuring out how to be a web 3 developer you can get to the focus of building out a successful product and a successful business case and so behind the scenes when we talk about real world assets the core technology empowering that is something called fungible assets so this is effectively our erc20 if you will and it can be used to represent any fungible asset on APTA so if you're going to Define real world assets you're going to just Define stable coins or even our utility token AP or meme coins they can all be represented via this and the really cool thing about this is I can actually create new fungible assets without writing a single line of code I can just simply kick off a transaction saying create me this new fungible asset with this name and is seamlessly created with great programmability beyond that with through code mechanisms you can actually add additional functionality such as strict controls on who can control who can use when they can access it's incredibly programmable and it's extensible such that you can add things like taxation or even privacy on top of it so we actually have built out a veiled or private transaction framework right on top of our fungible asset standard uh one of our colleagues actually built out a 404 nft standard that allows you to have shared nfts and so if you get enough of these tokens you can actually then produce an nft from it and if you're familiar with the move ecosystem this is actually the first demonstration of dynamic dispatch in move and this has been the foundation for rwas and apas uh which was really cool because back when we launched this we knew what we were going for but also did somebody in the apas ecosystem said that they've been waiting for this all along and that's prop based so they saw this and immediately read the the document that described it and started building almost instantaneously and you can learn more about it at the QR code up there uh I also want to do a quick plug for an ongoing AI hackathon on apto so if you're into AI you're into economics money movement our good friends at duel Finance are hosting a metam move AI hackathon where you can actually go and potentially win prizes and check out how you can use AI to program apos and just to quickly wrap up if you've been following the memes on Twitter we've got a CTO going on and uh apas is looking good here if you don't know what that means well then you should look it up and uh get part of uh the fun out there and so with that I want to help continue the presentations move along and I'll conclude thank you so much