Bitwise Aptos Staking ETP (APTB ETP) med ISIN DE000A4AJWU3, erbjuder investerare exponering för APTs prestanda, samtidigt som de fångar ytterligare insatsbelöningar som ackumuleras i ETPen. APTB är en institutionell kvalitet, låg kostnad och flytande ETP som är helt backad med Aptos (APT) som hålls i kylförvaring. ETP är benchmarkad till Compass Aptos Total Return 90% Index, efter avgifter och utgifter.

Aptos – högpresterande Layer 1 Blockchain

Aptos lanserades 2022, två och ett halvt år efter Solana och sju år efter Ethereum. Den har hyllats för banbrytande prestanda som möjliggör applikationer i företagsskala och har snabbt vuxit till över 8 miljoner aktiva användare varje månad. Aptos Labs, som är en kärnbidragsgivare till blockkedjan, leds av ett seniort team som tidigare arbetat med Metas blockchain-initiativ, och stöds av ledande institutionella investerare inklusive Andreessen Horowitz, Apollo Global Management, PayPal Ventures och Franklin Templeton Investments.

Varför APTB?

Helt transparent: APTB-innehavare får alla insatsbelöningar netto efter en insatsserviceavgift på 33 % som debiteras av emittenten för att täcka insatsservice och andra kostnader.

Riktigt riktmärke: Compass Aptos totalavkastning 90%-index möjliggör en tydlig bedömning av prestanda mot den aktuella APT-insatsbelöningsmarknadsräntan.

Enkelt och pålitligt: Köp och sälj som vilken aktie eller ETF som helst via ditt vanliga värdepapperskonto. Inget nytt konto eller kryptoplånbok behövs.

Likviditet: Investerare i APTB åtnjuter daglig likviditet på börsen och är inte begränsade av låsningsperioder eller andra tekniska utmaningar med kryptosatsning.

Fysisk ETP-struktur: Enheter av APTB stöds till 100 % fysiskt av Aptos (APT) som hålls säkert i kylförvaring. De privata nycklarna lämnar aldrig förvar ens under utsättning.

Förvaring av institutionell kvalitet: Tillgångarna som stöder ETPen förvaras i kylförvaring och säkras av en oberoende förvaltare, vilket eliminerar risken för emittentens fallissemang.

Produktspecifikationer

ETPens NAV-värde i US-dollar bestäms kl. 16.00 CET varje bankdag och representerar värdet av en enhet; den beräknas genom att använda det relevanta spotpriset för den underliggande digitala tillgången. Värdet är inte nödvändigtvis detsamma som ETPens intradagshandelspris. Investerare bör inte förvänta sig att köpa eller sälja ETP till det fastställda NAV-värdet.

Angivna prestationer representerar tidigare resultat. Nuvarande resultat kan vara lägre eller högre än den genomsnittliga årliga avkastningen som visas. NAV-utvecklingen visas i basvaluta (USD), prisutvecklingen visas i handelsvaluta (t.ex. EUR). Courtage eller transaktionsavgifter tillkommer. Tidigare resultat är ingen garanti för framtida resultat, och ditt investerade kapital kan vara i fara.

Staking Aptos (APT)

Varför staking APT?

Att satsa APT, Aptos blockkedjas infödda token, är ett sätt att tjäna extra inkomster samtidigt som nätverkets säkerhet och prestanda förbättras. Aptos använder en unik, högpresterande konsensusmodell för snabba, pålitliga transaktioner. Genom att satsa APT – antingen direkt eller genom denna ETP-produkt – bidrar du till transaktionsvalidering och blockproduktion, och får belöningar i APT-tokens som samlas i ETPen och förbättrar dess prestanda.

Varför använda en ETP för staking?

För investerare förenklar denna Aptos Staking ETP insats genom att hantera tekniska krav och förvaring. Medan direkta APT-innehavare har alternativ för att satsa, erbjuder en ETP distinkta fördelar, särskilt likviditet: investerare njuter av daglig handel på börsen utan låsningsperioder eller tekniska komplexiteter. Dessutom hålls tillgångar säkert i kylförvaring hos en specialiserad institutionell förvaringsinstitut, vilket säkerställer förvaring hela tiden.

Handla APTB ETP

Bitwise Aptos Staking ETP (APTB ETP) är en börshandlad kryptovaluta (ETP) som handlas på SIX Swiss Exchange.

SIX Swiss Exchange är en marknad som få svenska banker och nätmäklare erbjuder access till, men DEGIRO gör det.

Börsnoteringar

Börs	Valuta	Kortnamn
SIX Swiss Exchange	USD	APTB
SIX Swiss Exchange	CHF	APTB

HANetfs medVD Hector McNeil pratade med Proactives Stephen Gunnion efter att bitcoin toppar 100 000 dollar då den så kallade ”Trump-handeln” utlöste fler köp av kryptovalutan. McNeil förutspådde att priset skulle nå $150 000 i mitten av 2024 på grund av ökat deltagande från institutionella och privata investerare.

McNeil diskuterade andra potentiella katalysatorer från Donald Trumps presidentskap, inklusive effekter på försvars-, olje- och gassektorerna. Han lyfte fram uransektorn, betonade dess begränsade utbud och ökande efterfrågan, och föreslog HANetfs Sprott Uranium Miners ETF och Sprott Junior Uranium Miners UCITS (U8NJ) som värdefulla alternativ.

McNeil nämnde också möjligheter att återuppbygga Ukrainas försvarsinfrastruktur och liknade den vid ”Israel på steroider.” Han beskrev hur HANetfs produkter som Alerian Midstream Energy Dividend UCITS ETF (JMLP) och Future of Defence UCITS ETF (ASWC) kommer att dra nytta av denna utveckling.

Pyth Network is a high-frequency oracle leveraging Solana’s technology, offering a robust solution for off-chain data sharing for primarily decentralized finance applications (DeFi). It provides services like real-time price feeds and benchmarks, accessible to a wide range of financial service providers.

What are Oracles?

Blockchains in and of themselves are useful already, for trustless and permissionless transactions without censorship. No trust or verification from the user is required because it is stored on a decentralised ledger with global consensus. What if certain transactions require reliable and real-time data from external sources that do not necessarily have a global consensus or can be stored on the same ledger? For example:

• Products that rely on price feeds of assets from other blockchains or real-world markets: Many decentralized finance (DeFi) applications, like decentralized exchanges or lending platforms, need accurate and timely information about asset prices (e.g., stocks, cryptocurrencies, commodities). Since these prices are continuously changing in real-world markets, blockchains need a way to securely access this off-chain data.

• Products that require verifiable and secure random numbers: Randomness is crucial for a variety of blockchain use cases, such as lotteries, gaming, and even secure cryptographic protocols. However, generating truly random numbers on-chain is challenging without introducing bias or predictability. Off-chain randomness, when provided by a reliable source, is often needed.

• Products dependent on historical price data: Some DeFi platforms and financial products might need access to archived price data for risk assessment, backtesting trading strategies, or offering historical analysis. Since blockchains primarily focus on storing current state information, they need external sources to provide this historical data efficiently.

To address these challenges, Oracles were introduced. Oracles serve as bridges between blockchains and the external world, providing smart contracts with access to off-chain data. They connect external data providers—such as market data owners, web APIs, or IoT devices—to decentralized applications across multiple blockchains. Oracles enable these applications to securely and reliably obtain real-time data, execute transactions based on external events, and interact with data that cannot be directly stored on-chain.

Why can this data be trusted?

Oracles provide a robust mechanism for ensuring the integrity and reliability of off-chain data before it is used on the blockchain. An oracle network verifies the:

• Authenticity: To ensure that the data is genuine and comes from a legitimate source, oracle networks source data from multiple trusted providers or verifiable APIs. This process reduces the risk of malicious or false information being introduced into smart contracts.

• Accuracy: Accurate data is crucial for smart contracts to function correctly. Oracles achieve this by aggregating data from several independent sources. Instead of relying on a single provider, an oracle network will query multiple data sources and compare their responses.

• Reliability: Oracle networks enhance reliability by using decentralized nodes, which increases resilience against failures or malicious activity. If one data source or node fails or provides incorrect information, the other nodes in the network can continue to operate and provide valid data.

Source: VanEck Research

The demand for accurate and reliable off-chain data is growing as the number of real-world use-cases and adoption of blockchain increases. Users of applications are more than willing to pay for an oracle service that is accurate and reliable and covers a large variety of use-cases.

Pyth Network versus Other Oracles

Read the blog post of Battle of the Oracles to learn more about the different oracles solutions. To recap, Pyth Network is a high-frequency oracle leveraging Solana’s technology, offering a robust solution for off-chain data sharing for primarily decentralized finance applications (DeFi). It provides services like real-time price feeds and benchmarks, accessible to a wide range of financial service providers. PYTH is the governance token and utility token of the Pyth Network. Supply and demand for the PYTH token is directly related to level of usage and total demand of Pyth’s services and Pyth Network’s Tokenomics.

Total Value Secured by Oracles

Source: Defillama. Data as of 19/08/2024. Historical performance is no guarantee for future results. This should not be understood as financial advice for any of the digital assets mentioned in the figure.

While Chainlink holds the lion’s share of the total value secured by oracles, Pyth has shown by far the largest growth in terms of TVS, number of protocols supported and number of DApps. Pyth is expanding rapidly, across different networks and protocols, supporting more DApps, data providers and integration partners every day. In the same time frame, Chainlink’s marketshare has decreased. Comparing the main metrics of MCAP/TVS ratio and MCAP/TTV ratio, we notice that based on market capitalization (circulating supply), Pyth is undervalued whereas the TVS ratio based on fully diluted value paints a different picture. This is because only 37% of PYTH tokens are unlocked, the next significant PYTH token unlock takes place in May of 2025 and happens yearly thereafter on the same date until the full amount of tokens has been unlocked by 2027.

Source: Defillama, Coingecko, data as of 05/11/2024. Historic performance is not a guarantee for future results. This should not be understood as investment advice for any of the digital assets mentioned in the table above.

Pyth’s Unique Advantages

Source: Pyth, Data as of 19/08/2024. This should not be understood as investment advice for any of the digital assets mentioned in the table above.

Use-cases Enabled by Pyth

Products and Services

• Price Feeds: real-time market data for smart contracts, blockchains, and applications

• Benchmarks: historical market data for smart contracts, blockchains, and applications

• Express Relay: smart contracts or protocols that need protection against MEV (Express Relay)

• Express Relay is one of a kind product that offers developers to auction off valuable transactions directly to MEV searchers without validator interference

• Entropy: smart contracts that require secure on-chain random numbers. Secure and verifiable random numbers are incredibly important for creating a fair and unpredictable on-chain actions (e.g., for games)

• Pyth DAO Governance model

Examples:

• Decentralised Exchanges (DEXs) require reliable real-time price feeds to provide users accurate trades.

• Pyth’s data pull model provides data directly from the source, such as exchanges, market makers or DeFi protocols. Because data is pulled only on demand and not pushed at a given interval, it scales efficiently, and costs are offloaded to users where updates are demand-based.

Pyth Network Governance

The Pyth Network operates a decentralized governance system that empowers the community by allowing all PYTH token holders to have a direct say in the network’s development and decision-making processes. This decentralized governance model ensures that control of the network is distributed among its users, promoting transparency and inclusion.

To participate in governance, token holders must stake their PYTH tokens through the Pyth staking program. By staking their tokens, users gain the ability to vote on community governance proposals, ensuring that they have a voice in the key decisions shaping the future of the Pyth Network.

In addition to voting, any PYTH token holder has the right to submit proposals to the Pyth DAO, provided they meet the requirement of holding and staking at least 0.25% of the total PYTH tokens staked. The proposals that can be brought to the DAO are diverse and impact many critical aspects of the network’s functionality, including:

• Determining the size of update fees: Proposals can influence the fees charged for updates to the network, ensuring that they remain fair and competitive.

• Reward distribution mechanisms for publishers: The community can vote on how rewards are allocated to data publishers, ensuring that those contributing accurate and reliable data are fairly compensated.

• Approving software updates across blockchains: The Pyth Network operates across multiple blockchains, and governance participants have the power to approve essential updates to on-chain programs, ensuring the network remains up to date and secure.

• Listing price feeds and determining their reference data: Token holders can vote on which price feeds are listed on Pyth, as well as set the technical parameters for these feeds, such as the number of decimal places in the prices and the reference exchanges used to determine the data.

• Selecting data publishers: The governance system allows the community to permission publishers, or select which entities are allowed to provide data for each price feed. This ensures that only trusted and verified data sources are contributing to the network.

This is not financial research but the opinion of the author of the article. We publish this information to inform and educate about recent market developments and technological updates, not to give any recommendation for certain products or projects. The selection of articles should therefore not be understood as financial advice or recommendation for any specific product and/or digital asset. We may occasionally include analysis of past market, network performance expectations and/or on-chain performance. Historical performance is not indicative for future returns.

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