Amnis bi-weekly report (14 September 2023)

Sep 18, 2023

Welcome to the first edition of the bi-weekly report, an all-inclusive update from Amnis Finance. This report will share our project's latest updates, achievements, and insights into our plans and goals.

In this report, we will cover the following topics:

Aptos DeFi & LSD Market Updates: A review of the recent developments and enhancements of our staking protocol, DAO, DEX, and wallet in the Aptos Defi ecosystem.
Internal Updates: A highlight of the events and activities we have organized to engage with our community and grow our user base.
What is next?: A sneak peek into our upcoming features and milestones we are working on or planning to launch shortly.

Aptos DeFi & LSD Market Updates

Defi on Aptos is still at the beginning stage when the total value locked is less than $50m, with the most wealthy Defi protocol in the network just having 16m TVL. There aren’t many Defi activities and growth in the Aptos space due to the lack of the LSD (Liquid Staking Derivatives), a field that has crucially contributed to the Ethereum Defi TVL beyond conventional staking, lending, and farming protocols.

Otherwise, LSD market share in Aptos is <10% of the entire Defi space, and there are only 2 protocols that are operating in this network. To take advantage of these opportunities, we launched Amnis Finance to allow users to easily stake APT and profoundly enhance the value of the Aptos Defi ecosystem.

Amnis Updates

After 2 launching weeks, we have achieved various things related to the main product and branding. These 2 weeks are fantastic for us to have a well-prepared kick-off before immersing in the captivating journey of the Aptos Defi ecosystem.

First and foremost, we happily introduced the appearance of Amnis Finance and our mission & vision - Source.

We adjusted quickly and attended one of the premier blockchain events in Asia - Korea Blockchain Week 2023 to spread the Amnis spirit - Source.

After that, we officially opened the Amnis protocol testnet version for users to gain hands-on experience before the mainnet launching - Source.

Proudly, we won 2nd place in the Aptos Foundation Hackathon out of 200+ registered teams in the Token2049 event - Source.

Community Performance

Our communities, including Twitter, Discord, and Telegram, witnessed an excellent performance as all the crucial metrics soared. Remember! We had only 2 weeks and built all the channels from scratch! Here are the details:

Twitter: 1,100+ followers
Discord: 1.500+ members
Telegram: 300+ members

What is next?

In the upcoming 2 weeks, we will finalize the composition in our treasury. Moreover, we will publish a long-form article that has explicit instructions on how to experience the Amnis Staking feature and Yield Tokenization.

The most important thing is the Amnis Finance Protocol design & model will also be officially released in the next 2 weeks.

Let’s hope that things will be on track! We are still open to having technical partnerships and validators for mutual support.

Conclusion

We hope you enjoy reading this report and find it informative and valuable. Please contact us through our official channels with any questions or feedback. Thank you for your continued support and trust in Amnis Finance.

About Amnis Finance

Amnis Finance is a staking protocol built on the Aptos chain, a fast and scalable layer 1 blockchain platform that supports smart contracts and decentralized applications. Amnis allows users to stake their APT tokens and earn rewards in the form of Aptos, the native currency of the Aptos chain. By staking with Amnis, users can enjoy passive income, low fees, and enhanced network security.

Amnis Finance aims to become the leading staking solution for the Aptos chain and beyond by providing users with a simple, convenient, and profitable way to participate in the ecosystem. We are constantly working to improve our products and services, as well as to expand our partnerships and collaborations with other projects in the blockchain space.

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