Cryptocurrency News

Aptos Mainnet Goes Live, Team Reveals APT Tokenomics A Day Before Trading Starts

By October 18, 2022 No Comments
Aptos (APT) logo cover image

Key takeaways:

  • After months in the making, the Aptos Mainnet went live yesterday
  • The Aptos team revealed the project’s tokenomics, detailing how 1 billion APT tokens will be distributed among the community, core team, and other network participants
  • Major exchanges have revealed they will be listing Aptos tomorrow

After months of testnet activity and millions in investments, Aptos mainnet goes live

Aptos Labs, a company consisting of former Meta’s Diem stablecoin employees, launched the Aptos mainnet on October 17. The Aptos team has stated on Twitter that everything went as expected on the first day. 

However, several social media users voiced their concerns over the poor performance of the Aptos blockchain, which was at one time clearing just 4 transactions per second (TPS), compared to the 160,000 TPS the network was supposed to handle. It is worth noting that with the mainnet being so young, there is currently little activity on the network, so the real test of the transactional throughput will come in the coming weeks and months.

Aptos is a Layer 1 blockchain using Move programming language and advanced dApp development tools to facilitate the high throughput required by NFT and DeFi products and services. The Aptos team managed to raise $350 million in funding in 2022 from a number of prominent investors, including Andreessen Horowitz and FTX Ventures.

Aptos tokenomics: 1 billion APT initial supply

The Aptos team has published a post detailing APT tokenomics. According to the post, the initial token supply of APT at the time of the mainnet’s launch was 1 billion. Aptos’ supply will increase over time, and is projected to reach 1.5 billion APT tokens by 2031 due to the issuance of staking rewards. 

Aptos’ 10-year token supply projection. Image source: Aptos Foundation

Out of the initial token supply, 51% was reserved for the community, 19% for core contributors, 16.5% for Aptos Foundation, and roughly 13.5% for investors. 

It is worth noting that a large portion of Aptos’ token supply is locked in staking pools, with tokens slated to be unlocked over time on a predetermined release schedule.

Binance, Coinbase, and FTX to list Aptos

Following yesterday’s mainnet launch, several major cryptocurrency exchanges have announced they will be listing Aptos trading pairs in the coming days. 

Binance, Coinbase, and FTX have announced they will list Aptos (APT), the network’s native governance and utility token, on October 19, at 1:00 UTC. 

In addition to the trio of crypto giants, Huobi, OKX, and Bitfinex have also announced they will be listing APT trading pairs.