Written by: TechFlow
This year’s Korea Blockchain Week was bustling with people, and Aptos became one of the most high-profile projects:
On one hand, the U.S. Commodity Futures Trading Commission announced that Aptos Labs CEO Avery Ching has become a member of the Digital Asset Markets Subcommittee, marking an important voice for Aptos representing the entire industry in U.S. crypto regulation;
On the other hand, Aptos has also made significant progress in the Korean market: Korea’s two major exchanges, Bithumb and Upbit, now support Aptos USDT deposits and withdrawals, and Lotte, one of Korea’s top five conglomerates, announced that its subsidiary plans to expand its application landscape on the Aptos blockchain.
Amid a series of major news, we had an in-depth conversation with Ash Pampati, Senior Vice President of the Aptos Foundation, on site at Korea Blockchain Week.
Focus is the most profound impression left by this conversation.
When asked about the current focus of the Aptos ecosystem, Ash responded without hesitation:
The long-term strategic core of Aptos is DeFi, and our ultimate goal is to build a global trading engine. But unlike other public chains that specialize in a single field, Aptos can simultaneously handle DeFi, stablecoins, payments, and decentralized storage. We are building a fertile ground for innovation to grow freely through solid blockchain infrastructure.
When talking about the three development priorities for Aptos in the coming year, Ash’s answer further reflects Aptos’s spirit of focus:
For me, there is only one core thing, and that is to become the TOP 1 public chain in terms of application revenue. The core of a successful ecosystem is that different types of businesses and founders can generate revenue, maintain operations, and grow into unicorns. We will provide comprehensive help and support around this core.
In this issue, let’s follow Ash Pampati’s sharing and dive deep into Aptos’s differentiated ecological layout under the new cycle and new public chain competition, as well as its future growth strategies under the core vision of a “global trading engine.”
Four Ecological Dimensions to Attract Billions of Users On-chain
TechFlow: We’re glad to have the opportunity for an in-depth exchange with you. Some Chinese-speaking users may not know much about your background, so could you please introduce yourself and share some of your past experiences and main responsibilities at Aptos?
Ash:
Hello everyone, I’m Ash Pampati, currently serving as Senior Vice President at the Aptos Foundation.
My responsibilities mainly focus on supporting the development of the Aptos ecosystem, ensuring two key things: First, outstanding projects can not only survive on the Aptos network but also thrive; second, investors and the community can have a good experience in the process.
My core task is to make these elements work together perfectly, thereby building a balanced and vibrant ecosystem.
TechFlow: Looking back over the past year, what major changes has Aptos experienced? Can you share some important milestones?
Ash:
Of course. Aptos originated from Meta’s Libra (later Diem) project, whose core idea was to support applications with billions of users and build more efficient capital transfer channels in a permissionless way, whether it’s Instagram, WhatsApp, or other global platforms. This philosophy and technology remain at the core of Aptos today.
Over the past year, we have focused on two main points: On one hand, driving on-chain economic growth and strengthening enterprise interest in blockchain, thanks to the foundation we built at Meta, we have established deep trust with many enterprises and financial institutions, which has allowed us to connect and deepen these partnerships more smoothly after becoming independent; on the other hand, we have always been committed to ensuring the prosperity of the on-chain economy.
Specifically, we have made several core advances:
First, native trading activity on the Aptos decentralized exchange continues to grow, with our daily trading volume now exceeding $150 million, ranking among the TOP 10 blockchains.
Second, the scale of stablecoin trading and circulation on Aptos continues to grow. In just July alone, our stablecoin trading volume was about $60 billion, even though we are still a relatively young public chain in terms of stablecoin integration.
Another metric I care deeply about is whether applications built on Aptos are truly generating revenue and forming sustainable business models. Encouragingly, in the past month, we have also entered the TOP 10 across all chains in terms of “application revenue.”
TechFlow: You mentioned some applications that have been successfully built and are generating revenue on Aptos. Can you describe the current state of the Aptos ecosystem? Are there any particularly noteworthy projects you can share?
Ash:
The current Aptos ecosystem is like a sleeping giant awakening. We uphold a unique philosophy: We believe the next unicorn will be born from Web3 native founders. While the attention of institutions and enterprises is important, we need people who live and work in the Web3 industry every day to help guide development. This is also one of our core criteria when screening ecosystem projects.
Specifically, the Aptos ecosystem revolves around four important dimensions:
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DeFi Sector
We see DeFi as the cornerstone of the global trading engine. By introducing native DEXs, Aptos is concentrating liquidity and making major breakthroughs in trading platform construction. For example, Hyperion, incubated in February in cooperation with our official Chinese community organization Movemaker, became the top DEX in the Aptos ecosystem by June, and completed its TGE in July. This is exactly the ecological growth paradigm we expect.
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Money Markets and Lending Sector
We have partnered with Aave to deploy its first non-EVM chain version, reflecting institutional trust in Aptos, especially in conjunction with enterprise-grade technologies like Chainlink. Such collaborations lay the foundation for institutional capital to go on-chain. At the same time, we are seeing significant growth in products like XBTC and BTC Fi, which enable Bitcoin to play a greater role in DeFi, especially in the Asian market.
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Innovative Project Layout
We are very optimistic about Decibel, a native exchange incubated by Aptos Labs. The high-performance blockchain built by Aptos is crucial for onboarding billions of users, whether it’s crypto assets, traditional assets, or innovations like streaming and AI that have not yet entered the Web3 field. Trading is the core link, and we are building a global trading engine to support these innovations.
The decentralized storage project Shelby, jointly developed with Jump Crypto, is also critical: it may sound a bit boring, but we firmly believe there is a better solution for cloud storage. Shelby provides a lossless experience at a lower cost than Web2 services like GCP/AWS/Azure, and reshapes the value exchange between creators and users through the Web3 incentive model.
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Breaking the Data Bottleneck
Data has always been a core obstacle for Web3 to go mainstream. Shelby solves this pain point through a disruptive storage solution, paving the way for applications with a billion users.
When I look at the Aptos ecosystem, I can confidently say it is like a sleeping giant. We are at the beginning of a grander era, and the innovations we are making will power the next stage of Web3 development.
CEO Becomes Member of U.S. Crypto Regulatory Body, a Milestone for the Entire Industry
TechFlow: Recently, DAT has been very popular, and many public chain tokens are announcing related moves. Does Aptos have any relevant plans?
Ash:
Of course, we have clear plans in this regard, and there is a lot to look forward to.
What I can share is that the DAT we are advancing will be unique. Although many projects have taken a follow-the-leader/copycat approach to DAT, we are focused on building a DAT that is deeply integrated with Aptos and truly differentiated.
This is important because we realize there is a large class of investors, especially equity investors, who have not yet participated in crypto tokens. Through our DAT plan, these investors will be able to share in the growth dividends brought by blockchain innovation.
Our goal is very ambitious, and we are building with the vision of onboarding a billion users. Through collaborative development with projects like Decibel and Shelby, as well as the startups we are incubating, Aptos is preparing for mass adoption. The DAT plan is a key part of this blueprint, providing broader accessibility for breakthrough blockchain innovation and opening new opportunities for investors and users.
TechFlow: Recently, Aptos Labs CEO Avery gave a speech in the U.S. Congress and was appointed as a member of the GMAC Digital Asset Markets Subcommittee under the U.S. Commodity Futures Trading Commission (CFTC). What does this mean for Aptos, and what impact will it have?
Ash:
I believe this is not only significant for Aptos, but also a milestone for the entire blockchain industry.
Avery’s participation is crucial for the entire industry. His direct engagement with Congress provides valuable guidance on how blockchain can thrive in the U.S. regulatory environment. His appointment to the GMAC Subcommittee under the CFTC will further help ensure that blockchain has a clear and solid development path. I believe Avery has the unique qualifications to fulfill this role with extraordinary dedication.
Avery is an engineer focused on solving technical challenges elegantly and precisely, and his vision is to have the global economy operate on blockchain infrastructure. This focus drives us to keep improving; even though Aptos is already one of the fastest blockchains, we are always striving to make it even better.
Ultimately, Avery’s appointment is not only a victory for Aptos but also for the entire U.S. crypto sector. It will help advance discussions around blockchain technology and its role in the global economy.
TechFlow: Since Avery became CEO of Aptos Labs, how has his leadership influenced the company’s direction? What innovations or changes can we expect under his leadership?
Ash:
Avery has a unique leadership style. Some people are good at taking things from 0 to 1, while others are good at scaling up. Avery is more like a “1 to 100” leader.
As CEO, Avery’s philosophy is: technology is non-negotiable. We believe the next wave of adoption will be driven by excellent technology, which is why we continue to refine our technology every day.
Avery is also accelerating our ecosystem building. In his first month in office, he drove a 10x expansion of the ecosystem. I think he is laying the foundation for huge growth. He is deeply involved in the ecosystem, working closely with entrepreneurs and builders, and combines this approach with our institutional DNA, giving Aptos a unique advantage as we move toward the next stage of growth.
The Long-term Strategic Core of Aptos is DeFi
TechFlow: As you shared, do you think RWA, stablecoins, and Decibel will push DeFi even higher and make it more popular than before?
Ash:
I agree with this view.
First is stablecoins. Since our inception, we have paid great attention to stability. Our original intention was to enable every dollar to circulate efficiently and safely in an application ecosystem with billions of users. We have recently integrated three major stablecoins: USDT, USDC, USDe, and connected PayPal USD via LayerZero. Compared to Ethereum, Solana, etc., although we are young, we have managed to integrate so many stablecoins in a short time. For example, Aptos has now become the second largest native deployment chain for USDT, second only to Tron.
What does this mean? Stablecoins naturally choose the best tech stack for better adoption. For us, now is not only a key moment for Aptos, but also the time for technology to be truly seen and appreciated in Web3. One of the most important missions now is to bring a billion users on-chain.
Second, I believe DeFi inclusiveness is very important, for example, making it accessible to my father or your relatives and friends. This kind of inclusiveness is less correlated with market conditions, but it is a more reliable way to allow funds to enter a global, permissionless economy and generate utility. Rain or shine, we believe inclusive DeFi is the key to mass user adoption.
Next is how to apply this mechanism to trading, which is exactly why Decibel is so interesting. Decibel is a trading platform deployed on Aptos. It’s not just about high-risk perpetual contract trading, but emphasizes earning yields, using yields as collateral, and a series of features that make capital flow more efficiently.
The reason I jokingly say “DeFi is a bit boring” is simply because we’ve been talking about this word for ten years. We prefer to build a “global trading engine.” This term may not be as catchy, but its significance is enormous.
TechFlow: Here’s a practical observation: for transparency, every time we withdraw stablecoins from exchanges like Bybit, we find that fees on the Aptos chain are often the lowest, and it’s the choice of more and more users,
Ash:
Haha, smart users choose smart ways, and I believe more and more users will become smarter every day.
TechFlow: For the Chinese-speaking market, sometimes the community feels they don’t understand Aptos’s current ecological focus. Is Aptos currently more focused on DeFi, Game, or the hot RWA? Can you introduce the current development priorities?
Ash:
The long-term strategic core of Aptos is DeFi, and our ultimate goal is to build a global trading engine. I recently published an article outlining the products that can be built on Aptos, including structured financial products, Delta-Neutral vaults, and the path from DEX to perpetual contract trading. Among them, integrating Web3 liquidity takes up 80% of our efforts, and we strictly select and support teams that meet this principle.
In addition to DeFi, we also focus on the capital flow sector, which includes two pillars: stablecoins and payment systems. For us, stablecoins are not just trading tools, but have huge potential in the real world, such as cross-border remittances and microloans, which are precisely the shortcomings of the traditional financial system. We see them as an important part of the future and are committed to supporting this ecosystem. The payment sector is where Aptos showcases its unique advantages, as we can provide superior infrastructure and payment channels.
At the same time, we are working with projects like Shelby to explore decentralized storage solutions, enabling both enterprise and consumer applications to be built on fullydistributed systems. In the next 6-12 months, we especially look forward to seeing developers build decentralized versions of YouTube or AI machine learning models based on this.
The uniqueness of Aptos lies in its versatility: unlike other public chains that specialize in a single field, we can simultaneously handle DeFi, stablecoins, payments, and decentralized storage.
In terms of user experience, we believe the future of Web3 products will be more like “Web 2.5,” where users may not even realize they are interacting with blockchain. The key to achieving this is to provide an experience comparable to traditional social platforms. To do this, we need a super-fast public chain with zero friction—if users encounter even a minute of delay, they will leave the application. That’s why our insistence on speed, cost, and abstraction makes Aptos the ideal platform for startups.
A typical case is KGeN. This project started as a game distribution platform and later transformed into an AI model providing human verification services. They use the Aptos blockchain to achieve large-scale expansion at extremely low cost and have now become the largest non-DeFi profitable protocol in the Web3 space, with annual recurring revenue expected to exceed $40 million.
These success stories confirm the unique value of the Aptos ecosystem: we are building a fertile ground for innovation to grow freely through solid blockchain infrastructure.
TechFlow: Aptos has incubated some new projects in cooperation with OKX. Do you think this model will continue? Will Aptos further cooperate with more institutions to launch more new projects in the future?
Ash:
I think it will, and I believe the key is:
If the foundation is hands-on and clear about “where and around what to build,” this path can be successful.
One major doubt outsiders had about Aptos in the past is related to your question: What does Aptos focus on? In which directions should I build? Is what I do on Ethereum feasible on Aptos?
We will express our views very clearly. Specifically:
We will clearly prioritize tracks and specify which use cases are worth doing, and we are ready to provide support and funding.
At the same time, we will work with partners who are also highly invested in these use cases and the growth of the Aptos network, whether they are investment institutions or other types of partners.
We also provide bottom-up localized regional support, so that builders, wherever they are, have reliable local teams and mentors to help them, as well as access to funding channels, whether from Aptos itself or third parties. For example, our cooperation with MoveMaker—I see it as our close partner, representing us in Hong Kong and rooted in Hong Kong’s core Web3 ecosystem.
From this model, it is also exciting: In addition to Hyperion, we now have Goblin Finance, which aims to build Delta-Neutral vaults, and AllScale, which focuses on payments. These three projects were all incubated within about half a year of our cooperation with MoveMaker, and they all have great growth potential. This is a model I think is very important, and we hope to do more and bigger.
TechFlow: Regarding the recent hot RWA and AI sectors, does Aptos have any targeted plans?
Ash:
Okay. First, regarding RWA, Aptos is already among the top three or four public chains in this field, which is quite a breakthrough for a new chain like us and fully reflects institutional trust in our technology and the security of the Move language.
However, there is still a key link missing: the actual use of RWA in user-facing DeFi. The concept of RWA is too broad—it could refer to stocks, stablecoins, fractionalized real estate, or any valuable asset. Each type of asset has different uses in decentralized trading. For example, some RWAs are more suitable as lending collateral, while others can be used for perpetual contract trading. The ways assets can be utilized are very diverse.
For us, the next focus is how to truly unlock and innovate the use of RWA in the decentralized ecosystem. In terms of market trust and TVL related to RWA, we have already been validated. Next, we hope to lead the advancement of actual RWA use cases.
As for AI, I mainly look at it from two levels. First, how AI can become anaccelerator to help founders build on-chain faster and smarter. At Aptos Labs, we focus on a project called Giomi, a unique full-stack suite for developers, with built-in infrastructure, RPC, indexing, and user interfaces for easily building and deploying any DApp. AI is accelerating development and driving smarter applications in DeFi, SocialFi, and other fields.
The second level is how users interact with data driven by AI. Currently, users hand over data to centralized companies, which provide aggregated responses based on that data. But I believe users will increasingly want to control the data they input into these engines. Blockchain applications in this area are just beginning, and we are actively looking for teams with clear views and innovative capabilities in this direction to support them.
TechFlow: So, Aptos is building infrastructure for AI, which will benefit projects that want to use your data or build on your platform. You also work with traditional institutions and companies to help them integrate AI into their systems, right?
Ash:
Yes, Aptos’s advantage lies in our deep roots in Web2. We maintain close relationships with major tech hubs and financial institutions, which gives us a unique edge.
Any builder who comes to us can benefit from our network, and we proactively facilitate cross-industry collaboration, introducing them to potential partners and stakeholders from both traditional industries and the emerging Web3 space. Our goal is to make it easier for developers to connect Web2 and Web3 ecosystems, accelerating their project progress.
Asian Communities Are Highly Sophisticated, Aptos Values Localization and Integration
TechFlow: We’re having this conversation at KBW in Korea. How do you view the Asian market, and what differentiated layouts and strategies do you have in different regions?
Ash:
When it comes to Asia, we don’t see it as a single entity. Asia is a diverse region with deep and varied cultures and sentiments, and we are clearly aware of this. In Greater China, Japan, and Korea, one commonality is the high literacy and professionalism of their communities. I even think that Asian crypto communities often surpass many Western communities in knowledge depth and technical level. They are not just following trends, but analyze public chains, assess fundamentals, and scrutinize project teams like professional analysts. We deeply respect and appreciate this, so we focus on working with these communities, listening to their feedback, and quickly implementing their insights into our products and ecosystem.
In Korea, we are very pleased to cooperate with leading institutions such as Upbit and Bithumb, as shown by our recent USDT-related announcement. Such cooperation allows us to better reach local users, enabling them to use the “world’s fastest dollar” for transactions directly in their daily lives. This kind of direct local connection is crucial for building trust and conveying the value of Aptos in a way that fits the market.
We attach great importance to Aptos’s presence and investment in Asia, and we care deeply about deep integration with local culture and markets. Our strategy in Korea is to provide support directly within the market. We want the community to know that they can always reach members of the foundation. Whether it’s business negotiations, technical support, or daily interactions, we promise to remain accessible and highly responsive. Our core is to build trust in the local community, cultivate long-term relationships, and make them feel supported and understood.
Japan is also particularly noteworthy, thanks to its more favorable crypto regulatory changes. We believe these new policies will unleash many opportunities in Japan, not only in trading but also in innovation and development. Japan’s attitude toward crypto is similar in many ways to Greater China and Korea, so we are excited about the potential for growth and innovation there. Our goal is not only to participate in the Japanese market, but also to actively help shape the local policy environment, just as we participate in policy discussions in the U.S. We hope to support the evolution of Japanese regulation and help cultivate a healthy crypto ecosystem in the region.
TechFlow: You also announced a partnership with Korea’s Lotte Group this morning. Can you tell us more about it?
Ash:
The partnership with Lotte is an important step for us. Our goal is to deeply integrate into local culture, focusing on the products people use every day, how they interact with technology, and how they gain value in their daily experiences.
By partnering with established companies like Lotte, we can integrate infrastructure into platforms that people already trust and use. This not only strengthens our presence in the region but also ensures we provide core backend technical support for these key players.
TechFlow: Aptos’s cooperation with the Japan Expo this year should be very exciting news. What is your strategic consideration for this partnership, how is it going so far, and will there be similar plans in the future?
Ash:
We are very honored to participate in this partnership, and the strategic thinking behind it comes from our emphasis on the Expo, especially its significance in Asian communities. For many people in the region, visiting the Expo is almost like a pilgrimage.
In fact, some members of our founding team, especially those from China, shared their personal experiences: as children, they would take the train to see the Expo, which shows its importance. The Expo holds a special place in many people’s hearts, and this deeply resonates with us.
Strategically, this partnership aims to promote real-world adoption of blockchain technology. Aptos has always believed that blockchain will become the “invisible infrastructure” supporting real-world use cases. Although we are still in the early stages, the current results are encouraging. We have already seen over 500,000 new accounts created, with more than 4.5 million transactions generated by these accounts. This is an important signal of real-world adoption, showing that ordinary users, not just crypto enthusiasts, are participating in the ecosystem.
The partnership with the Expo is just the beginning, and we see it as part of a broader strategy to drive adoption in different markets. We are already exploring similar enterprise-level partnerships in other Asian markets. In the future, we will continue to work with large enterprises to build bridges between blockchain technology and real-world applications. The prospects are very promising, and we look forward to these efforts taking root and expanding in other markets.
Becoming the TOP 1 Public Chain in Application Revenue
TechFlow: If you could only do three most important things, what would you consider the top three priorities for the next year?
Ash:
For me, there is only one core thing, and that is to become the TOP 1 public chain in terms of application revenue.
The core of a successful ecosystem is that different types of businesses and founders can generate revenue, maintain operations, and grow into unicorns. To this end, we focus on several key areas:
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Concentrated liquidity on Aptos: Accelerating DeFi development by concentrating liquidity and launching projects like Decibel.
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Leveraging Shelby’s role in data: Shelby will help us solve the data bottleneck, enabling new types of products and services to be built on-chain.
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Native token issuance: We hope to see new types of tokens issued natively on Aptos and actively traded.
These initiatives are crucial for helping founders build sustainable and profitable businesses on Aptos.
TechFlow: Many people often compare Aptos and Sui, especially in terms of competition. How do you view this competition? How does Aptos position itself relative to other projects like Sui?
Ash:
I don’t focus on competing with Sui; instead, I focus more on competing with ourselves.
What I mean is, by all metrics, Aptos has made tremendous progress in on-chain fundamentals. We consistently rank in the top ten in TVL, daily trading volume, RWA, and stablecoin trading volume. We focus on improving these metrics because they are key to driving adoption.
In terms of project funding, my philosophy is simple: if a team thinks our technology can uniquely support them in building great products, and they need to expand to other chains, I will never stop them. I want builders to have the ability to grow and expand, not be limited to a single ecosystem.
The key difference between Aptos and Sui lies in our philosophy. Our CEO Avery was in charge of blockchain engineering at Meta, leading blockchain R&D for production environments, and the technology we use today comes directly from that. That’s why many projects, including Polygon and StarkNet, use the same technology. Our success in parallel consensus and parallel execution further proves that the market values elegant, composable technology, which is why many people choose Aptos as their base public chain.
TechFlow: How do you view the importance of token price and Aptos’s long-term vision? We’ve discussed the importance of community and ecosystem many times. Can you share your view on the role of token price in this ecosystem?
Ash:
I believe the token itself is a product. For a Layer 1 public chain, the token is crucial—it’s like the oil underground that powers our cars, and we firmly believe in this.
Secondly, I think the market has not yet truly understood the impact we have made, but we believe the market will soon understand.
Third, we are firmly committed to long-termism. I strongly feel that many projects that are frequently in the headlines today may not exist in a few years, but we will still be here.
My view may be a bit “spicy,” I think while token price is important, everything ultimately depends on the team behind the project and what they care about. Many projects only care about token games and are not building anything real, which will backfire, hurt themselves and the community, and hinder the development of the entire industry.
We focus on long-term growth, are committed to building something sustainable, and strive for reasonable progress in regulation. Our goal is to promote the popularization and innovation of blockchain, and we are confident that Aptos will continue to play an important role in the industry’s future, because I believe that teams with long-term vision will ultimately become the biggest winners.
