Just got off Amnis, and the snapshot here at Meso has just ended. Looking at this meager amount of APT in my wallet makes me worried—everyone says that not moving assets means depreciation, so what can I do next? Recently, I've been studying Kofi, a liquid staking project on Aptos, which offers slightly more yield than just holding APT and allows for seamless interaction with Hyperion, so why not give it a try.
1. What is Kofi?
If you are an Aptos ecosystem user, holding a lot of APT and feel that 'simply holding APT is too wasteful and not flexible enough', then Kofi might offer you new ideas.
Kofi @kofi_finance is the first 'dual token liquid staking' platform on the Aptos chain, with three highlights:
Liquid Staking: Allows you to stake while keeping asset liquidity, without being locked in.
Yield Enhancement: Additional staking rewards through strategies like MEV capture (expected to start Q3-Q4).
Dual Token Design:
kAPT: 1:1 pegged to APT, can be redeemed back to APT at any time, suitable for earning additional rewards in DeFi.
stkAPT: Earn double rewards from Staking + MEV, its value will continuously grow with the rewards.
In simple terms, Kofi allows you to 'stake without being locked in, earn richer rewards, and also participate in DeFi'.
2. Kofi Participation Tutorial
1️⃣ Step 1: Prepare APT and Wallet
Open the Kofi official website https://app.kofi.finance/mint
Connect your Aptos wallet
Make sure there is APT and a small amount of APT for Gas in your wallet
2️⃣ Step 2: Exchange APT for kAPT
Enter the Kofi App
Input the amount of APT you want to stake, and mint kAPT with one click
Immediately receive kAPT pegged 1:1
3️⃣ Step 3: Stake kAPT as stkAPT
In the Kofi App, stake kAPT as stkAPT
Receive daily yield growth with stkAPT, suitable for long-term holding
The current annualized yield of skAPT is approximately 12.86%, quite attractive
4️⃣ Step 4: Use kAPT or stkAPT to participate in DeFi
Can be traded directly on DEXs like Hyperion, Panora
Market Making: Provide kAPT/APT liquidity or skAPT/APT to earn transaction fees, currently Hyperion has low fees, but the rewards APR is particularly high, worth chasing.
I wrote a participation tutorial for Hyperion: https://x.com/AirdropAlchemis/status/1918347942748131837
3. Project Value and Risk Analysis
✅ Participation Value
Higher Yield: Not only earn basic Staking rewards, but also double rewards after MEV rewards start.
Flexible Liquidity: Trade kAPT or stkAPT anytime, not restricted by a 14-day unlocking period.
Diverse DeFi Play: Integrate multiple DEXs and lending platforms to make staking assets more efficient.
Fee Friendly: Currently 0% protocol fee, all earnings go to users.
⚠️ Participation Risks
Smart Contract Risk: Although audited, DeFi always carries potential vulnerabilities.
Price Decoupling Risk: The prices of kAPT and stkAPT may decouple temporarily on DEXs due to insufficient liquidity.
Yield Uncertainty: MEV Boost has not yet started, current yield is only the basic Staking APR of about 12% or so.
