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.
Let’s look at transaction speeds on Aptos.
Aptos promises 100k TPS in its final version. However, the current TPS is somewhere around 4 transactions per second. pic.twitter.com/joWnxAeIpZ
“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.
Aptos raised at a valuation of $2 billion and failed to make its token information available at launch.
“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.”
Locked tokens are a meme if they are used to accumulate and unload rewards
Just a sneaky way to get cash because backers usually have a lot of exposure
Funny enough, those same bonuses are usually labeled as “community incentives” while going straight into the big wallets to get rid of them.
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.
How can there be a spot market if his ppl does not know the emissions table or the total supply of coins! ?? !! AAAAAAAAAAaaaaaaaaadenjfkbdhgiejorof