Aptos launched on Monday and a summary of the APT token distribution & incentive plan was published. Soon after, Aptos receives criticism from the crypto community in regards to the amount of APT held by private investors. According to Aptos Foundation, one billion Aptos tokens were available at the start of the mainnet launch, with 510 million going to community members, 190 million going to core contributors, and the remainder going to the Aptos Foundation and individual investors.
The 410 million tokens now held by the Foundation will be distributed over the following ten years. A smaller amount of 5,000,000 APT is initially available to support Aptos initiatives for the foundation category, while 125 million APT is initially accessible to support ecosystem projects, grants, and potential community growth initiatives.
According to Aptos cofounder Shaikh, many tokens were staked at the time of genesis, including tokens allocated in community and foundation. He then explained whoever stakes will receive staking rewards by proportion that could be unlocked every 30 days.
Obviously, not everyone is happy about the APT token distribution and incentive plan. Crypto analyst @AkadoSang tweeted that the locked tokens used for rewards are “just a sneaky way to get liquidity since backers usually hold [a] great deal of supply”. The analyst also indicated Aptos sugar coated the rewards as “community incentives” when it is going to big wallets directly. Other criticism includes the failure of announcing APT tokenomics information at the time of launching. This may tumbles the investors’ confidence in Aptos.
Closing Thoughts
With venture-backed investment led by a16z, others include PayPal Ventures, Coinbase Ventures and more. Every move Aptos makes will get attention from investors and the community. I hope Aptos can stay innovative and achieve their goal of becoming the home of Web 3.0 with good use of such high-profile investment. It may be the next Solana in the Rust programming language family.
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