Aptos Mainnet: EVERYTHING you need to know before buying APT token
On October 18, 2022, Aptos – a project that has got the attention from the whole crypto community in recent years – has officially launched on the mainnet. However, there has been a lot of conflicting information and opinions surrounding the event.
In the article below, we will quickly update all the most important information about the Aptos project.
Important information about Aptos Mainnet
Aptos Token (APT) on the mainnet
Below is the official information about the APT token.
- Total Supply: 1,000,778,596.08
- Staked APTs: 821,150,724.78 (accounting for more than 80%)
- TPS: 4.05
- Note that this is the data when the project was just launched on mainnet, indicating the number of transactions (tx – the number of transactions) executed in 1 second.
- Actual TPS figures will change constantly.
- The TPS of the project announced initially was 100k transactions per 1 second.
- It is possible that this is the initial number because APT tokens have not been allocated to the community, there is no mainnet DApp operating on the network.
- Active Validators: 102
Information about APT token listed exchanges:
- Spot Trading:
- Binance: APT/BTC, APT/BUSD & APT/USDT (8am 10/19/2022)
- FTX: APT/USD, APT/USDT (8am 10/19/2022)
- Huobi: APT/USDT (8am 10/19/2022)
- OKX: Open deposit at 13h on 18/10/2022 and will be traded when the number of deposits meets OKX’s trading standards
- Margin Trading: Binance: APT/BUSD, APT/USDT (8am 10/19/2022)
- Future Trading: Updating
Detailed information about APT tokenomics:
According to the latest information, Aptos Labs has published the APT tokenomics. There are a total supply of 1 billion tokens, divided into the following groups:
- Community: 51.02%
- Core Contributors: 19.00%
- Foundation: 16.50%
- Investors: 13.48%
APT tokens will be unlocked according to the following chart:
According to the charts above, APT’s community tokens make up the majority and will be unlocked first. However, from the time of the mainnet launch, the project has not announced any information about the allocation of tokens to the community.
Fundraising – funding rounds
- Aptos has gone through 3 fundraising series: strategic, series A. No public sale, IDO or any other form of allocation.
- Prominent VCs involved in the Aptos deal: Binance Labs, Jump Crypto, FTX, a16z, Parafi, Multicoin Cap, 3AC, Coinbase, Hashed
- The valuation of the last call was $4 billion. This number is quite large for a new blockchain, especially when compared to long-standing blockchains such as Polkadot with $ 7 billion (FDV), Tron with more than $ 5 billion (FDV), Near Protocol with $ 3 billion (FDV).
Data on traffic to the project website
According to Similarweb statistics (details here), many investors interested in Aptos project come from Vietnam, United States, China, Ukraine and Russia.
Questions about APT token
Where does the number of tokens listed on exchanges come from?
The project does not have a public sale. That is, before being listed, the project was not sold to retail investors. So where does the amount of tokens listed on exchanges come from?
Number of tokens staked
More than 80% of APT is being staked, where does those tokens come from? It is highly likely that they are from Aptos Labs nodes, early investors and selected members from the program Aptos Incentivized Testnet. If nodes immediately owned such a large amount of tokens, what would APT’s tokenomics look like?
Flaws in tokenomics?
According to the tokenomics, APT’s token allocation for community is very large (more than 50%) and is also the first to be unlocked, accounting for the majority of the total initial circulation supply, so how will this community token be distributed and will the tokenomics of the project have loopholes?
Instant listing on multiple exchanges
Without giving information about the tokenomics and how it is distributed to the community, the project has listed APT on exchanges. The fact that Aptos made a splash, attracted the interest of the community, then got listed on a series of large exchanges is worrying. Many people in the community can’t help but recall that several other L1 blockchains have also used this method.
Project’s Discord was disabled?
According to Twitter account Paradigm Engineer #420, around the time of the mainnet launch, Aptos’ official Discord page was turned off, and users could not chat or ask questions. Recently, the project has reactivated a few channels. Important channels related to developer resources are still closed.
Aptos knows something is wrong. Between genesis and 1:30 PM PT, the aptos discord was disabled – users couldn’t chat or ask any questions. They’ve only recently opened a few channels, but important channels like dev-resources are still closed. pic.twitter.com/lx1BDMeG3n
— Paradigm Engineer #420 (@ParadigmEng420) October 17, 2022
Mainnet launch too hasty?
Aptos stated in the roadmap that it will launch on mainnet in Q3/2022, i.e. the project is already behind the roadmap. However, if the situation is realistic on the Aptos network, the launch of the mainnet at the moment is too hasty.
Even though Aptos ecosystem is relatively complete with many pieces, many protocols on Aptos have only recently launched devnet and the number of testnet projects can be counted with fingers. Even testnet projects have not completed the review and bug-fixing phase.
Launching mainnet too soon can lead to many troubles to the protocols and the infrastructure on Aptos blockchain. This rather unexpected mainnet launch gave community members the impression that Aptos was “running deadlines”.
Should you FOMO APT?
The valuation of Aptos in the last round of funding was $ 4 billion. The majority of us here are retail investors and can only buy tokens on exchanges. Compared to the above figure, we are not in a good position.
The position in the market is very important, the project is good, but if our position is not good, it can still be lost. Considering to the current situation, the community does not hold tokens. Almost all the tokens belong to the team and investors.
Aptos is undeniably a popular project, with many highlights in terms of technology and funding. It is also the large capital raising that attracts the attention of the community that can cause blind FOMO for investors. Investors should watch the Aptos mainnet launch carefully before making any investment decision.