Thala and Movement Collaborate to Accelerate The Growth of Move-based DeFi

Thala, a leading Move-based DeFi platform with over $200 million of TVL on the Aptos blockchain, has announced it will deploy on Movement’s M2, the first MEVM (Move + EVM) ZK L2 on Ethereum. Developed by top Move builders, Thala’s comprehensive DeFi suite features a DEX, stablecoin, liquid staking, and token launchpad service. Expanding to Movement’s M2 network positions Thala to become one of the biggest next generation Ethereum DeFi protocols. Because the Movement SDK underlying M2 has full Aptos Move compatibility, Thala is able to launch natively on M2 and retain all the security, processing speed, and cost-efficiency of the Move Virtual Machine (MoveVM) while gaining access to EVM users and liquidity bases.

Thala’s DeFi Suite: A Closer Look

  • Thala Swap DEX & Liquidity Pools: At the core of Thala’s offerings is its Automated Market Maker (AMM) DEX, Thala Swap. Designed to provide efficient swaps and deep liquidity, Thala Swap is powered by various pool types, including weighted, stable, and liquidity bootstrapping pools.
  • Move Dollar ($MOD): The Move Dollar is an over-collateralized, yield-bearing stablecoin backed by a diverse basket of assets. Known for its capital efficiency, $MOD plays a vital role in the Aptos DeFi ecosystem and is set to expand its reach into M2 DeFi.
  • Liquid Staking ($sthAPT): Thala offers a liquid staking solution with $sthAPT, a dominant $APT liquid staking derivative. With 5 million $APT already staked, $sthAPT enables holders to earn Aptos staking rewards while participating in DeFi activities.
  • Thala Launch: Leveraging the liquidity bootstrapping pools of Thala Swap, Thala Launch provides a launchpad for decentralized token launches. It employs a Balancer-style Dutch auction, ensuring transparent and community-open token distribution.

All of these features of Thala’s HyperApp are composable and work together to build DeFi synergies between stablecoins, liquid staking derivatives, and liquidity pools that can be used throughout the Aptos ecosystem and soon throughout EVM ecosystems via M2.

Shared Vision For Growing the Move Ecosystem

In addition to its current offerings, Thala is incubating the next generation of Move DeFi projects, such as Echelon Markets, a money market on Aptos now with the potential to expand to M2. This initiative underscores Thala’s commitment to fostering innovation and growth within the Move DeFi ecosystem, a vision shared fully by Movement Labs. With the announcement of this collaboration, Movement and Thala are strategically aligned to grow the Move ecosystem and expand it to the modular multi-chain landscape.

Adam Cader, Co-Founder of Thala Labs said “We are excited to announce our expansion to Movement and our deployment on Movement’s M2, the first MEVM (Move + EVM) ZK L2. By leveraging the existing Aptos codebase, which is already powering more than $200 million in TVL, we can tap into new EVM users and liquidity. This will help us capture more markets with the safety of Move.”

Rushi Manche, Co-Founder of Movement Labs, added “Thala is the leading Move DeFi protocol with a suite of apps designed to provide the best user experience: speed and security. With its expansion to the Movement network, Thala will be able to tap into the broader Ethereum and EVM liquidity base and grow its reach beyond just Move while serving as a core protocol for the Movement ecosystem”

About Thala:

Thala is a pioneering DeFi HyperApp and Liquidity Engine, powered by the Move programming language. Offering a diverse range of integrated products, including a stablecoin, DEX, liquid staking solutions, and a token launchpad, Thala stands at the forefront of the DeFi sector, driving innovation and accessibility within the blockchain space.

About Movement:

Movement is a network of Move-based blockchains, designed to combine smart contract security and parallelization with the liquidity and user base of the EVM. M2, the first MEVM (Move + EVM) ZK L2 on Ethereum, powered by Celestia, seamlessly integrates MoveVM with Ethereum, setting a new standard for blockchain interoperability and performance.

Join the Movement

Developers, researchers, and blockchain enthusiasts are invited to join Movement Labs on this transformative journey. Engage with the devnet, explore research papers and blog posts, build with the Movement SDK, and immerse in the Move programming language.

For more information about Movement Labs and to explore the documentation, visit movementlabs.xyz.