From the launch of Aptos yesterday, many people took Twitter to expose the false publicity, the lack of transparency and an enormous allocation of VC tokens
Before its release yesterday, the recently launched Aptos blockchain was promoted as “the most secure and scalable blockchain of the 1st tier”.
Muchos saw in Aptos a potential “killer of Solana”, but the release on Monday was plagued by enough problems to discourage even the most unoccupied investors.
Before the launch, the tokenomics behind the cryptocurrency Aptos (APT) was essentially non-existent for the public. Tokenomics refers to how a cryptocurrency token will function within a determined blockchain, how many tokens will be created over time and how the tokens will be distributed.
This morning, Aptos tried to address people’s concerns by publishing a breakdown of how their APT token would work.
The Twitter community reacts to the launch of Aptos
Three days before the launch, the crypto investor Miles Deutscher highlighted the obvious: Aptos is an important repository of risk capital.
Uniswap Labs is valued at $1.66b. Aptos: $4B.
Neither chain has executed a single transaction on mainnet, yet are worth more than the #1 DeFi protocol.
— Miles Deutscher (@milesdeutscher) October 14, 2022
On the day of the launch, the Twitter account ParadigmEng420 reported a failure in communications and a performance of transactions very inferior to that promised, documenting their concerns in a large thread of various tweets.
Let’s look at transaction speeds on Aptos.
Aptos promises 100k TPS in its finalized version. However, the current TPS is somewhere around 4 transactions per second. pic.twitter.com/joWnxAeIpZ
— Paradigm Engineer #420 (@ParadigmEng420) October 17, 2022
The Discord of Aptos also briefly disconnected and its own chain of blocks looked like a ghost town.
The cryptocurrency podcaster Cobie couldn’t believe that a cryptocurrency listed on FTX and Binance could have such an opaque token economy. he tweeted :
It’s not great that FTX/Binance etc are all listing Aptos without any tokenomics transparency at all. Surely it should be a prerequisite to listing something that users can have the basic information on what they’re buying lol
— Cobie (@cobie) October 18, 2022
Hassan Bassiri, vice president of portfolio management at the crypto-investment firm Arca, shared Cobie’s concerns yesterday.
“The surprising thing about this Aptos carpet is that all CEX [centralized exchanges] are listed in 24 hours [y] he tweeted :
aptos vc’s absolutely livid they cant dump on retail, shaking violently
they’ve resorted to clubbing baby seals to calm themselves down
— gainzy (@gainzy222) October 18, 2022