Here's Why Aptos (APT) Tokenomics is Slammed by Crypto Twitter
Aptos, a new-gen L1 blockchain supercharged by Block-STM parallel execution engine for smart contracts, announces the launch of itsa mainnet operations and listing of APT token. However, its tokenomic design looks dangerous for some analysts.
a16z-backed Aptos (APT) finally live in mainnet
According to the official announcement shared by the team of Aptos Labs on Twitter, Aptos (APT) blockchain is up and running in mainnet. The protocol launched on mainnet after four years in development: dozens of applications have already tried its instruments in testnet.
Mainnet has arrived.— Aptos (@AptosLabs) October 17, 2022
The blockchain utilizes its proprietary AptosBFT consensus with super-fast synchronization. Also, its team highlights its focus on decentralization as it lowers the barrier for potential validators:
Building a rich and diverse validator and full node community requires that state replication is flexible for different hardware environments. Aptos adapts to changing user requirements to offer new and more efficient sync strategies for inexpensive machines and higher levels of validation for those who can afford to.
On July 26, 2022, Aptos Labs made headlines with its $150 million funding round. In total, the platform raised over $400 million to be valued over $3 billion.
As covered by U.Today previously, Aptos' (APT) endpoints are added by Ankr nodes provider.
As such, dApp developers can start working with Aptos mainnet with no need to roll out their own nodes.
Why is Crypto Twitter confused by Aptos' (APT) tokenomics?
While Aptos (APT) has already established itself as one of the most overhyped projects of the upcoming Crypto Winter, some analysts are sure that its tokenomics is too whale-dominated.
For instance, many noticed that 82% of APT tokens are staked: this monstrous amount of APT can be dumped on retail users.
• Investors and core contributors: No tokens unlocked for the first 12 months• 51.02% of total $APT is 'community' - with no explanation what that meanswe can assume marketmakers will have full control over the supply on listing day and weeks thereafter — Mac 🐺 (@MacnBTC) October 18, 2022
Also, some critics mocked the allocation of 51% of APT tokens to the "community" with no clear explanation:
I guess the community: a16z, Multicoin, FTX, Tiger Global, Jump.
Last but not least, skeptics met the decision of all Tier-1 exchanges (Binance, FTX, OKX, and so on) to list APT in spot pairs from day one as a clear signal of enormous volatility incoming.Source