Aptos Labs incubated Decibel, Tria runs on Aptos — vertical integration dressed as ecosystem partnership. $57M TVL and $172M weekly volume is thin for a 500K-user funnel; Hyperliquid clears that weekly number in roughly an hour. Neobank user bases historically convert poorly to active perps traders, so "500K users" overstates actual sustained orderflow by a wide margin. The "150+ countries" framing quietly excludes the US, which is baseline table stakes for any offshore perps venue to operate at scale, not a differentiator.

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