Aptos (APT) has been making the rounds in the crypto spaces on social networks for more than two months. This new network caught the attention of many, as the team’s vision for the network was praised. On Monday, October 17, the project Announced that its main network had finally arrived before the listings on the exchanges. However, what would normally be cause for celebration has raised questions in the community.
The Aptos tokenomics
Earlier in the week, a good number of centralized exchanges announced that they would list the Aptos token (APT) for trading. These included the largest crypto exchanges such as Binance, FTX, and Coinbase, all of which have already released reports on their listing of the token. Naturally, supporters of the project fully support the listings, but some have started to question Aptos Labs’ choices, especially when it comes to the APT token.
The first thing that struck the community was the fact that the team had not yet released the tokenomics for the project even though they had already secured the exchange listings. This was pointed out by Twitter users Cobie and MacnBTC, who lamented the Aptos team’s lack of transparency.
However, soon after, images of Upbit tokenomics regarding the digital asset began to circulate on Twitter. This gave investors an idea of how the APT token distribution was taking place before the team released an official tokenomics.
The official Aptos tokenomics that was released showed information identical to what was already available on the optimistic crypto exchange. Of the announced 1 billion token supply, 190 million (19%) went to core contributors. The Foundation would get 165 million (16.5%) and the investors would get 134,782,460,233 tokens (13.48%). The remaining 51% of the supply was reserved for the community.
This community assignment, however, still raised more questions from the community. Since Aptos was not airdropping and there was no way to get tokens initially before the exchange listings, some have questioned how the community was actually supposed to get these tokens.
Others have also started to criticize the network, as it is apparently not working as promised. Aptos has previously stated that it would process transactions at a speed of 100,000 TPS, but this cheep alleges that the network currently only performs 4 transactions per second.
Currently, participants in the space are waiting for trading to go live on various exchanges on Wednesday. But some have already started referring to the digital asset as a pump-and-dump scheme given tokenomics.
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This post What is Aptos (APT) and why is everyone talking about it?
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