Aptos Blockchain raises concerns about tokens

Aptos Blockchain raises concerns about tokens

The main Aptos blockchain network was launched last night, but the long-awaited debut was not without challenges.

“Exciting to finally bring Aptos to mainnet,” Mo Sheikh, co-founder of Aptos, wrote on Twitter. “I admit it could have been better.”

On the technical front, the sheikh explained that the genesis of Aptos occurred on October 12, 2022, with 102 auditors securing the network. “These validators have undergone extensive testing prior to mainnet,” he said.

Prior to the mainnet launch, Aptos boasted a staggering 130,000 transactions per second (TPS), but at launch, it was reported that one transaction per second was at seven TPS — lower than the Bitcoin blockchain.

“The majority of these transactions are not actual transactions,” wrote the ambitious Twitter VC ghostwriter @ParadigmEng420.

Sheikh says the drop in TPS does not represent the capacity of the network and the “network was down ahead of upcoming projects online, saying the number of transactions per second should increase as activity increases.

Sheikh then turned his attention to the issue of Aptos tokens, a face that raised huge questions and concerns after the launch. Sheikh said Aptos tokens are “designed with the people at their core,” and posted a chart listing the four categories of token distribution and the percentage and amount of raw tokens that each would receive.

According to the sheikh, many of the tokens included those dedicated to the community, with enterprise classes categorized at the time of Aptos’ inception. He explained that everyone who takes subsequent stakes will receive a proportional bonus (about 7% per year) unlocked every 30 days.

Not everyone was impressed.

“Locked tokens are a meme if they are used to collect and empty rewards,” crypto analyst AkadoSang said on Twitter, describing lock and storage tokens “as a fraudulent way to get liquidity since backers usually hold them.” [a] Lots of show.”

In addition to the mainnet launch, Binance, FTX and OKX said they are launching perpetual contracts using the Aptos APT token an hour after the start of trading. Perpetual futures contracts allow traders to bet on the price of an asset.

Unaffected by the news of FTX listings and Binance, Cobie asks how the spot market might function if traders don’t know the emissions schedule or the total coin supply.

Finally, addressing concerns about the short unavailability of channels on the Aptos Discord server, Sheikh said the service is silent to protect the safety of the community.

“Most of the projects hide the channels because of the many frauds,” he said. “The safety of the community is a top priority.”

Sheikh says that despite the hiccups at launch, several apps will be up and running over the next few days.

“Building a decentralized protocol from the ground up is hard!” Sheikh said. “Aptos is fortunate to have a wonderful community that is constantly evolving together.”

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