Aptos, the long-awaited layer 1 blockchain developed by former Diem project employees, has just announced the deployment of its mainnet. At the same time, the team revealed the APT tokenomics, which will be distributed to the community on a monthly basis over a 10-year period.
Aptos launches its mainnet
Aptos, the blockchain built by former developers of Diem, the now-defunct Meta project, announces the deployment of its mainnet.
Describing itself as “the most secure and scalable layer 1 blockchain”, Aptos was built around the Move programming language, which was originally developed by Meta for its Diem stablecoin. It was originally developed by Meta for its Diem stablecoin, and is derived from Rust, the language used for Solana (SOL), Polkadot (DOT) and Cosmos (ATOM).
In theory, the Move language makes it possible to offer more secure applications thanks to its intrinsic structure, which allows developers to reduce the scope for possible attacks. The Aptos blockchain technology, which combines its own AptosBFT V4 consensus method with a parallelization system, should, according to its own data, allow it to process up to 130,000 transactions per second with advanced security.
For the time being, although the mainnet has been officially launched, the blockchain still offers few possibilities as its token is not yet launched and many applications have yet to land on the network. These applications include, among others, wallets, decentralised finance solutions (DeFi), oracles or tools for non-fungible tokens (NFTs).
Overview of the Aptos ecosystem as of 30 September 2022
Aptos also benefits from significant financial support, as it already has more than $350 million in investments from giants such as FTX Ventures, a16z, Tiger Global and Binance Labs. The project is still in its infancy, which has given rise to rumours about the distribution of tokens.
APT tokenomics revealed
The long awaited tokenomics, which will be available for trading on October 19th in the morning on FTX, have been revealed today. The distribution of the tokens will be as follows:
- The community will receive 510 million tokens, or 51.02% of the supply from the initial distribution;
- Contributors will receive 190 million tokens, or 19% of the supply;
- Foundation will receive 165 million tokens, or 16.5% of the supply;
- Investors will receive 134 million tokens, or 13.48% of the supply.
Thus, the distribution will be as follows:
Tokens dedicated to the community and the Aptos Foundation will be distributed over a 10-year period. Thus, 1/120 of them will be distributed on a monthly basis during this period. At the moment, an overwhelming majority of these tokens are held by the Aptos Foundation (over 410 million), and 100 million are held by Aptos Labs.
