Aptos Coin (APT) has been circulating in the crypto spaces on social media for over two months. This new network caught the attention of many as the team’s network vision was praised. On Monday, October 17, the project announced that its mainnet has finally arrived before being listed on exchanges. However, what would often be cause for celebration aroused suspicion in society.
Aptos coin tokenomics
cryptocoin.com Earlier this week, several centralized exchanges announced that they will list Aptos Coin (APT) for trading. These included the largest crypto exchanges such as Binance, FTX, and Coinbase. In addition, all of them have published reports on token listings. Naturally, the fans of the project fully support the lists. But some have begun to question Aptos Labs’ choices, especially when it comes to the APT token.
The first thing called out by the community was the fact that the team has not yet released the tokenomics for the project, even though they have already secured the exchange listings. This was particularly noted by Twitter users Cobie and MacnBTC, who complained about the lack of transparency from the Aptos team. Soon, however, Upbit’s tokenomic pictures of the digital asset began circulating on Twitter. This gave investors an insight into how the distribution of the APT token was carried out before the team released an official tokenomics.
The community is not convinced
The official Aptos tokenomics launched showed the same information as currently available on the optimistic crypto exchange. Of the announced 1 billion token supply, 190 million (19%) went to the main contributors. The foundation would receive 165 million (16.5%) and investors were receiving 134,782,460,233 tokens (13.48%). The remaining 51% of the supply was reserved for the community.
However, this community allocation still attracted more questions from the community. Given that Aptos has not airdropped and there is no way to get tokens prior to exchange listings, some have questioned how the community should actually purchase these tokens.
Others began criticizing the network for apparently not performing as promised. Aptos previously stated that it will process transactions at 100,000 TPS. However, the owner of this tweet claims that the network is currently only processing 4 transactions per second. Currently, participants in the space are waiting for the start of trading on various exchanges on Wednesday. However, some have already begun to refer to the digital asset as a ‘pump-and-dump’ scheme, given tokenomics.
What is Aptos Coin (APT)?
Aptos Blockchain has been developed by over 350 developers worldwide over the past 3 years. The project presents new and original innovations in consensus, smart contract designs, system security, performance and decentralization. Specifically, the combination of these technologies will provide a fundamental building block for bringing Web3 to the masses.
Meanwhile, Aptos Coin aims to rival ETH and SOL. The project has a capacity of 130 thousand transactions per second. Aptos received a huge $350 million investment from companies such as FTX, ParaFi Capital, Oak HC/FT, Circle Ventures, Franklin Templeton Investments, Apollo, Jump Crypto.com, Superskrypt, Graffing Gaming Partners, MultiCoin Capital. In addition, according to experts, the project has a serious potential considering that it will be listed on all major stock exchanges in a very short time as it receives a large investment.
How does the project work?
The team released the project WhitePaper on August 9, 2022. In this Whitepaper, users state that they can use the reliable and flexible Blockchain features at low fees. He also notes that it can be easily adapted to new technologies. The team has been developing APT for 3 years, starting with the Diem project. It also shows its customers that it is renewed without any problems.
The APT ecosystem has not yet released its Main-net. However, it is currently used quite actively. Especially many smart contracts on the platform are already in use. Meanwhile, Aptos uses rust’s Move, the same programming base language as SOL.
