What Is Aptos (APT) And Why Is Everyone Talking About It?
October 18 2022 - 12:00PM
NEWSBTC
Aptos (APT) has been making the rounds in the crypto spaces on
social media for more than two months now. This new network caught
the attention of many as the team’s vision for the network was
praised. On Monday, October 17th, the project announced that its
mainnet had finally arrived ahead of listings on exchanges.
However, what would usually be a cause for celebration has drawn
doubts from in the community. The Aptos Tokenomics At the start of
the week, a good number of centralized exchanges had announced that
they would be listing the Aptos (APT) token for trading. These
included the largest crypto exchanges such as Binance, FTX, and
Coinbase, all of which have already released reports regarding
their listing of the token. Naturally, supporters of the project
are in full support of the listings but some have begun to question
Aptos Labs’ choices especially when it comes to the APT token.
Related Reading: What Zombiechain? Cardano Tops Blockchains In
Active Developer Counts The first thing that was called out by the
community was the fact that the team was yet to release the
tokenomics for the project even though they had already secured
exchange listings. This was pointed out by Twitter users Cobie and
MacnBTC who lamented the lack of transparency from the Aptos team.
However, soon after, pictures of tokenomics from Upbit regarding
the digital asset has begun to circulate on Twitter. This gave
investors an insight into how the distribution of the APT token was
being carried out before the team had released an official
tokenomics. Community Not Convinced The official Aptos tokenomics
that was launched showed identical information to the one already
available on the upbeat crypto exchange. Of the 1 billion token
supply that was announced, 190 million (19%) was going to core
contributors. The Foundation would get 165 million (16.5%) and
investors were getting 134,782,460.233 tokens (13.48%). The
remaining 51% of the supply was reserved for the community. This
community allocation had, however, still drawn more questions from
the community. Given that Aptos was not doing an airdrop and there
was no way to initially get tokens before exchange listings, some
have questioned how the community was supposed to actually get
these tokens. Related Reading: Whales Across These Five Chains Are
Heavy On Stablecoins, Should You Be Too? Others have also taken to
criticizing the network as it is apparently not performing as
promised. Aptos has previously stated that it would process
transactions at a speed of 100,000 TPS but this tweet alleges that
the network is currently only doing 4 transactions per second.
Presently, participants in the space are waiting for trading to go
live on various exchanges on Wednesday. But some have already begun
referring to the digital asset as a pump and dump scheme given the
tokenomics. Featured image from Altcoin Buzz, chart from
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