[TEMP CHECK] List stAPT on Aave V3 Aptos Market

Governance New Asset
1

[TEMP CHECK] List stAPT on Aave V3 Aptos Market

Author: @AptosFoundation
Date: 2025-12-04

Summary

Signal support to list stAPT on the Aave V3 Aptos market, with full parameters to follow in an ARFC. Pricing will use a Chainlink redemption-rate feed for stAPT versus APT, subject to BGD validation. At the time of writing, stAPT supply across Aptos money markets is about 20.88M with ~0.11M borrowed, and the related amAPT route shows ~6.1M supplied and ~3.6M borrowed. APT and USDC borrowing on Aptos are deep, roughly 20.1M and 61.5M respectively. Liquidity on Hyperion is active in stAPT-APT, and amAPT offers an instant unstake-swap path that helps liquidations clear. Figures are point-in-time and will be refreshed in the ARFC.

Motivation

stAPT brings yield-accruing APT exposure as collateral on Aave. A redemption-rate oracle ties stAPT valuation to staking economics, which helps contain basis risk and supports predictable liquidation behavior. The aim is simple growth in net supply on Aave Aptos and healthy borrowing demand for stables and APT without adding complexity for users.

Specification

Token: stAPT by Amnis Finance
Contract: https://explorer.aptoslabs.com/coin/0x111ae3e5bc816a5e63c2da97d0aa3886519e0cd5e4b046659fa35796bd11542a::stapt_token::StakedApt?network=mainnet
Oracle: Chainlink redemption-rate stAPT/APT at launch

Security and audits

Amnis reports four independent audits
https://docs.amnis.finance/security-audits

Liquidity and liquidations

Hyperion shows active stAPT-APT trading. amAPT-APT holds deeper TVL and provides an instant unstake-swap route that can absorb liquidations at moderate size when parameters are sized to venue depth. These paths, combined with conservative caps, support orderly unwinds.

Next Steps

If there is positive support from the community, elevate this temp check to a snapshot. If the snapshot vote is YAE, move to the ARFC stage.

Ecosystem context

stAPT market cap on Aptos is reported near 35M. Native staking yield is about 7% APR as shared by the issuer. The Aptos team can propose APT incentives in the ARFC to bootstrap early supply and borrowing if Risk believes it materially improves launch quality.

Disclosures

This post does not request emissions or grants. It only seeks DAO signal to proceed with a full review.

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Hello @AptosFoundation and thanks for the couple of proposals posted recently in this forum.

I have no concerns about these proposals, and I’m supportive of them.

That being said, this instance runs on a segregated, reinterpreted codebase of Aave, created and operated by Aave Labs.
Incentives are also managed by the same entity and DAO’s service providers don’t have much feedback to provide as MoveVM is mainly out of our scope and our toolings are designed for EVMs ecosystems.

I wonder if the most efficient path forward won’t be to delegate this instance management to Aave Labs and let them operate it fully as a “friendly-fork” without the DAO’s input if that process is approved by an ad-hoc governance proposal akin to what Aave Labs is doing with Horizon.

As shared in the State of the Union post, our belief at the @ACI is that some instances, especially running alt-codebases, should be operated nearly autonomously by service providers implementing a rev share for the DAO, creating a mutually beneficial relationship and reducing the DAO’s SPs overhead.

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Thanks @MarcZeller for raising this. The Aptos deployment has been developed and operated on a modified Move codebase from the outset. Thus, exploring the Friendly Fork framework is a sensible direction to evaluate, especially since a non-EVM environment places minimal practical responsibility on the DAO’s existing service providers and can otherwise introduce unnecessary governance overhead.

Before taking any procedural steps, we will first align with the Aptos Foundation to ensure that the operational expectations and long-term maintenance model are clear from both sides. Once that alignment is in place, we can return to the community with a recommended path forward and, if appropriate, initiate a Temp Check at that time.

We appreciate the suggestion and welcome further input from the community as we coordinate the next stage with Aptos Foundation.

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