Crypto Twitter Interacts with Chaotic Aptos Launch and APT Token Distribution

Crypto Twitter Interacts with Chaotic Aptos Launch and APT Token Distribution

Ahead of its launch yesterday, the blockchain newcomer Aptos was described as “Most secure and scalable Layer 1 blockchain.

Many saw this as a potential “Solana killer,” but Monday’s launch was fraught with enough problems to deter even the most reckless investor.

Prior to launch, for example, the tokens behind the origin of the blockchain Aptos Code (APT) It was basically nonexistent to the public. Tokenomics refers to how a crypto token works within a particular blockchain, how many tokens will be generated over time, and how tokens are distributed.

This morning, Aptos attempted to address people’s concerns by posting details of how its APT code works.

but, Crypto Twitter remains largely unconvinced With the massive allocation of tokens (49%) given to developers and private investors, leading to joking that Aptos is a blockchain that caters to venture capital needs.

heavy weights Andreessen Horowitz (who led the $200 million tour) and FTX Ventures (which helped raise $150 million) are just a few of the investors who would likely have allocated those tokens to APT.

The chaotic launch of the latest Layer 1 blockchain for cryptocurrency, for these reasons and more, has sparked a lot of chatter in the community.

So, without further ado, here are some of the strongest reactions to yesterday’s launch on Crypto Twitter.

Crypto Twitter reacts to the launch of Aptos

Three days before the launch, crypto investor Miles Deutscher highlighted the obvious: Aptos is a major repository of venture capital.

On launch day, Twitter account Sample They reported a breakdown in communications and transaction throughput far lower than promised, and documented their concerns in an extensive multi-tweet thread.

The feud went into Aptos too for a while now And the blockchain itself Back To be a ghost town. The account, like many others, raised questions about central allocation It’s also an Aptos token.

Cobie could not believe that the cryptocurrency listed by FTX and Binance could contain such opaque tokens. “How can there be a spot market then [people] Don’t know what is the emissions table or the total supply of coins? ” he is chirp.

Hassan Al-Busairi, vice president of portfolio management at crypto investment firm Arca, shared Cobie’s concerns yesterday as well.

“What’s so great about this Aptos The rug is that all CEX [centralized exchange] Inserted within 24 hours [and] However you cannot find a single audience [document] About tokenomics anywhere, “Hmm chirp.

There were also some jokes at the expense of venture capitalists.

And of course memes.

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