# Thala

> The hyperapp and liquidity engine of Move

Thala is a decentralized finance protocol on Aptos. It lets users trade, earn, and borrow through a swap exchange, liquid staking, and a stablecoin backed by collateral vaults.

Thala is a decentralized finance protocol built for the Aptos network. It combines an automated market maker, a collateralized stablecoin, and liquid staking in one suite. Users trade assets, earn yield, and borrow against their holdings from a single interface.

ThalaSwap offers weighted, stable, and concentrated liquidity pools, including liquidity bootstrapping pools for token launches. Users mint the Move Dollar stablecoin by locking collateral in vaults that must stay over-collateralized, and liquidations run through collateral auctions and a stability pool. Liquid staking turns staked APT into tokens that stay usable across DeFi.

ThalaSwap is the flagship, joined by the Thala CDP and liquid staking for borrowing and earning, and by a launchpad and an incubator for builders. It is used by traders, liquidity providers, stakers, borrowers, and teams launching tokens or applications on Aptos.

- Type: Project
- Sector: Finance
- Status: Active
- Founded: 2022-06-01
- Profile: https://thegrid.id/profiles/thala

## Products

- [ThalaSwap](https://thegrid.id/profiles/thala): ThalaSwap is an automated market maker on Aptos with weighted, stable, metastable, and concentrated liquidity pools. Liquidity providers earn swap fees, and the same pool framework supports liquidity bootstrapping pools for token launches. (Decentralised Exchange, Live, Main Product)
- [Thala Launch](https://thegrid.id/profiles/thala): Thala Launch is a launchpad that distributes new tokens through liquidity bootstrapping pools. Pool weights shift during the sale to set the price, and projects trade against ThalaSwap liquidity afterward. (Launch Pad, Live)
- [Thala CDP (Move Dollar vaults)](https://thegrid.id/profiles/thala): Thala CDP lets users mint the Move Dollar stablecoin by locking collateral in vaults. Vaults accept various collateral types, including liquid staking tokens and real-world assets, and must stay over-collateralized. Liquidations run through collateral auctions and a stability pool. (Decentralised Borrowing & Lending, Live)
- [Thala Liquid Staking (thAPT / sthAPT)](https://thegrid.id/profiles/thala): Thala Liquid Staking lets users stake APT and receive thAPT, a non-rebasing receipt pegged to APT. Depositing thAPT mints sthAPT, a rebasing receipt that grows as validator rewards accrue, and both tokens stay usable across DeFi. (Liquid Staking, Live)
- [Thala Foundry](https://thegrid.id/profiles/thala): Thala Foundry is an incubator and grant program for DeFi teams building on Aptos. It funds DeFi applications that benefit from the network and provides engineering assistance and infrastructure setup. (Grants Platform, Live)

## Assets

- [Move Dollar (MOD)](https://thegrid.id/profiles/thala): MOD is a USD-pegged stablecoin issued by Thala on the Aptos blockchain. It is used for transactions, as collateral in DeFi protocols, and for liquidity provision across the Aptos ecosystem. Users mint MOD by depositing collateral into vaults through a collateralized debt position system, where the value of locked assets must exceed the minted stablecoin amount to maintain over-collateralization and protect against market volatility. (Stablecoin)
- [Thala (THL)](https://thegrid.id/profiles/thala): THL is the governance token of Thala, a DeFi protocol on the Aptos blockchain. It is used to vote on protocol parameters and decisions across Thala's products, including its AMM, stablecoin system, and liquid staking platform. Holders participate in governance by voting on Thala Improvement Proposals, which determine changes to fees, collateral types, treasury allocations, and new product deployments. (Governance)
- [Thala APT (THAPT)](https://thegrid.id/profiles/thala): THAPT is a liquid staking token for APT on Thala. It is pegged to APT, can be minted against and redeemed for the underlying APT, and stays usable across DeFi protocols on Aptos. Part of its validator rewards funds an incentive pool on ThalaSwap, and the rest goes to sthAPT holders. (Liquid Staking Tokens (LSTs))
- [Staked Thala APT (STHAPT)](https://thegrid.id/profiles/thala): STHAPT is a rebasing liquid staking token on Thala, minted by depositing thAPT. Its exchange rate against thAPT grows as APT validator rewards accrue. It receives the larger share of the rewards generated by Thala's liquid staking tokens and stays usable across DeFi protocols on Aptos. (Liquid Staking Tokens (LSTs))

## Links

- [Main](https://www.thala.fi)
- [Documentation](https://docs.thala.fi)
- [Discord](https://discord.gg/Thala)
- [Twitter / X](https://x.com/ThalaLabs)
- [Medium](https://thalalabs.medium.com)
- [Paragraph](https://paragraph.com/@thala-labs)

## Legal

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- [Data Licensing & Disclaimers](https://about.thegrid.id/legal/data-licensing-and-disclaimers): Licensing models and disclaimers
- [Open Data (ODbL)](https://about.thegrid.id/legal/open-data): Open Database License terms and scope for The Grid's open data service.
- [Attribution Guidelines](https://about.thegrid.id/legal/open-data-attribution-guidelines): How to attribute The Grid's data when using the open data service.
- [Web Services Terms](https://about.thegrid.id/legal/web-services-terms): commercial Terms for using data services.
- [All Legal Documents](https://about.thegrid.id/legal): Full index of terms, policies, and disclosures

## Optional

- [TGS Field Descriptions](https://github.com/The-Grid-Data/workspace-public/blob/main/references/tgs-field-descriptions.md): Schema field definitions for The Grid's data model
- [TGS JSON Structure](https://github.com/The-Grid-Data/workspace-public/blob/main/references/tgs-json-structure.md): Data model structure and relationships
- [Product Type Definitions](https://github.com/The-Grid-Data/workspace-public/blob/main/references/product-type-definitions.md): Definitions for each product type
- [Product Type Classification](https://github.com/The-Grid-Data/workspace-public/blob/main/references/product-type-classification.md): Guide for classifying products into types
- [Grid MCP Guide](https://github.com/The-Grid-Data/workspace-public/blob/main/grid-search/skills/grid-query/references/grid-mcp-guide.md): How to query The Grid programmatically via MCP