Aptos Blockchain Launches to Concerns Over Tokenomics

The Aptos Blockchain Mainnet launched last night but the long-awaited debut was not without its challenges.

Aptos Blockchain Launches to Concerns Over Tokenomics

it's exciting to finally bring Aptos to Mainnet Aptos co-founder Mo Shaikh tweeted "Acknowledged that it could have gone better."

Shaikh expressed that the Aptos genesis occurred on October 12, 2022. with validators have gone through extensive testing ahead of Mainnet. 

Aptos boasted an astonishing 130,000 transactions per second (TPS) before the launch of Mainnet but, after launch reported to have a TPS rate less than the Bitcoin blockchain. 

According to Shaikh the low TPS is not representative of the network's capacity and was the network idling ahead of projects coming online as well TPS rate should increase with more activity. 

Shaikh then turned his attention to the issue of Aptos Tokenomics a facet that had drawn considerable questions and concerns following the launch as well Aptos tokens are designed with people at the core and published a chart listing the four categories of token distribution and what percentage and amount of initial tokens each would receive.

According to Shaikh many of the tokens included those allocated to the community members. with foundation categories staked at the time of the Aptos genesis. he explained that everyone who subsequently stakes would receive a pro data staking reward of 7% per year that would unlock every 30 days. 

According to AkadoSang's Twitter profile locked tokens are a meme if they're used to farm and dump rewards. 

Binance, FTX, and OKX expressed they are launching perpetual contracts using the Aptos APT token an hour after it started trading. Perpetual future contracts allow traders to bet against the price of an asset. 

Crypto podcaster Cobie was not impressed with the Binance and FTX listing news. 

However addressing concerns about the brief unavailability of channels in the Aptos Discord server, Shaikh said the service was muted to protect community safety. 

"Most projects mute channels due to the high amount of scams," Shaikh said community safety is a high priority. 

Furthermore, According to Shaikh that despite the hiccups at launch, multiple applications will go live over the next few days. 

"Building a decentralized protocol form the ground up is tough" Aptos is fortunate to have a fantastic community that's constantly evolving together.

Related: Ripple wants to bring Ethereum smart contracts to the XRP Ledger