Aptos, the long-awaited Level 1 blockchain developed by former employees of the Diem project, has just announced the implementation 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 main network
Aptothe blockchain built by the former developers of Diem, Meta’s now obsolete project, announces the deployment of its main network.
Presenting himself as “ the most secure and scalable level 1 blockchain », Aptos was built around Move the programming language, originally developed by Meta for its Diem stablecoin. It is itself taken from Rust, the language used for Solana (SOL), Polkadot (DOT) or Cosmos (ATOM).
In theory, the Move language makes it possible to offer more secure applications due to its inherent structure that allows developers to do so reduce the scope of possible attacks. Aptos’ blockchain technology, which combines its own AptosBFT V4 consensus method and a parallelization system, should, based on its data, allow it to process up to 130,000 transactions per second with enhanced security.
At the moment, despite the mainnet being officially launched, the blockchain still offers few possibilities as its token has not yet been launched and many applications have yet to land on the network. These applications include, among other things, wallets, decentralized finance solutions (DeFi), oracles, and even non-fungible token tools (NFTs).
Overview of the Aptos ecosystem as of 30 September 2022
Aptos also benefits from significant financial support, since it already amounts to over $ 350 million in investments from giants like FTX Ventures, a16z, Tiger Global and Binance Labs. The fault lies with him too, since the project is still very young, which has given way to rumors regarding the distribution of tokens.
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APT tokenomics unveiled
Tokenomics, which was particularly long overdue since the APT token will be available for trading from the morning of October 19th, specifically on FTX, were revealed today. Therefore, 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;
- The foundation will receive 165 million tokens, or 16.5% of the supply;
- Investors will receive 134 million tokens, or 13.48% of the supply.
Therefore, the distribution will be ensured according to the following graph:
Tokens dedicated to the community and the Aptos Foundation it will be distributed over a staggered period of 10 years. Therefore, 1/120 of them will be distributed monthly during this period. At the moment, the vast majority of these tokens are held by the Aptos Foundation (over 410 million) and 100 million of these are held by Aptos Labs.
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Source: Aptos Medium Blog
Graphic source: press release
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