Decibel has reached a total trading volume of $7 billion, with over $1 billion generated through its Builder Codes program, as announced by the Aptos Foundation on X. Decibel operates as a decentralized exchange (DEX) for spot and perpetual trading built on the Aptos blockchain. A DEX allows users to trade digital assets directly without a central intermediary managing their funds.
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Aptos is a Layer 1 blockchain initially developed at Meta, focusing on high throughput and low-latency transactions. The Builder Codes initiative enables external applications, wallets, and trading interfaces to connect directly to Decibel's shared order book without the need to establish a separate exchange. Each integrated app receives a portion of the trading volume it generates, leading to a single liquidity pool accessible through various platforms instead of multiple isolated markets. All trades made through Decibel, regardless of the app used, are settled on-chain on Aptos. Additionally, each trade incurs a small APT burn, reducing the circulating supply of Aptos' native token over time as trading activity increases.
The $1 billion attributed to Builder Codes constitutes approximately 14% of Decibel’s total trading volume, highlighting the significance of third-party distribution as a key contributor. In its recent weekly update from the rewards program, Decibel reported distributing 486,543 AMPs during Week 29 of Season 1, with these points awarded across 1,542 unique wallets and 14,131 AMPs earned via referrals. The AMPs incentive program encourages user engagement and trading on the platform.
This trading volume milestone follows BitGo's announcement that institutional clients can now connect their existing self-custody wallets directly to Decibel, streamlining their approval workflows.