Last Friday, billions evaporated in a liquidation cascade—and nobody knows exactly what happened because centralized exchanges won't share the data.

In this sponsored episode recorded at Aptos' NYC event, Aptos CEO Avery Ching says if their Decibel perpetual exchange had been live, traders would have seen every order, every spread change, every liquidation in real-time onchain. But while critics argue existing perp DEXs like Hyperliquid are already decentralized, Ching says most still match orders off-chain in black boxes.

Avery explains why Decibel (launching Q1 2026) will be different, how 500 million Indian users are coming to crypto through Reliance Jio's Jiocoin, and why Aptos partnered with World Liberty Financial despite VCs calling it "garbage in your living room."

Guest:

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  Avery Ching, CEO & Co-Founder, Aptos

  
  

Links: 

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  The Composable Global Exchange Engine, by Avery Ching, CEO Aptos

  
  

Aptos Post: The fully onchain trading engine built by Decibel Foundation

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  Previous coverage of Unchained on Black Friday: Crypto’s Black Friday Was Its Largest Liquidation Ever. What the Hell Happened?

  
  

Timestamps:

🎬 0:00 Intro

🧭 0:33 How Aptos evolved from Meta’s Libra/Diem project

💡 2:27 Aptos’ vision for global trading engine and everyday crypto use

💾 10:11 What Shelby is and how it supports AI, creators, and enterprise use.

🎥 12:22 Aptos’ new media partnership with NBCUniversal

⚡ 14:46 Avery’s vision for a future when blockchains are widely used 

🧩 16:10 What Decibel is and how it aims to bring perps fully onchain

🔎 17:58 What would have changed if Friday’s crash was onchain

💵 24:12 Why Aptos partnered with World Liberty Financial on USD1

🇮🇳  28:46 How the Reliance Jio deal expands Aptos’ reach in India

🌏 30:46 How Aptos is building enterprise adoption across Asia

🏦 32:59 Why Aave launched its first non-EVM deployment on Aptos

🛡️ 36:42 What Aptos learned from recent market turmoil

🔚 42:18 Closing thoughts and Avery’s vision for onchain transparency

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