Since more than two years Aptos (APT), has been making waves in crypto space on social media. This new network caught the attention of many as the team’s vision for the network was praised. The project was completed on Monday, 17 October. announcedIt was finally able to list on the exchanges its mainnet. But, the celebration that would be expected has drawn skepticism from within the community.
Aptos Tokenomics
A large number of centralized exchanges said that the Aptos(APT) token would soon be available for trading at the beginning this week. Binance and FTX were the most prominent crypto exchanges, while Coinbase has already published reports on their listings of the token. Naturally, supporters of the project are in full support of the listings but some have begun to question Aptos Labs’ choices especially when it comes to the APT token.
Community members first pointed out that even though the team had secured listings on exchanges, they were yet to release tokenomics. Cobie and MacnBTC, both Twitter users, pointed this out. They lamented the intransparency of the Aptos project team.
Soon thereafter, photos of Upbit’s tokenomics pertaining to the digital asset circulated on Twitter. Investors were able to see how APT token distribution was carried out prior to the official release of tokenomics.
We are not convinced of the value of community
Aptos’ official tokenomics was released with identical data to that available on upbeat cryptocurrency exchange. Only 190million (19%) were going to the core contributors of the 1,000,000 token supply. Foundation received 165 million tokens (16.5%), and investors got 134,782,460.233 tokens (13.48%). The community was entitled to 51%.
The community had more questions than answers about the allocation. Aptos didn’t do an Airdrop, and tokens could not be obtained before listing on exchanges. Some people have asked how they were supposed to receive the tokens.
Some have taken to critiquing the network for not performing as expected. Aptos previously claimed that transactions would be processed at 100,000 TPS, but it has not been able to keep up this promise. tweetIt is claimed that currently, the network only does four transactions per second.
Participants are currently waiting for trading on the various exchanges to start live Wednesday. However, some people have begun to use the digital asset in a Pump and Dump scheme due to tokenomics.
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