The layer-1 blockchain Aptos (APT) finally launched its mainnet and released its tokenomics overview.
After four years of development, the proof-of-stake (PoS) blockchain was established with millions invested by venture capital firms. It has previously claimed to be able to process 160,000 transactions per second (TPS).
Former Meta employees Mo Shaikh and Avery Ching, who worked on the defunct Diem blockchain project, launched Aptos Labs.
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The initial total supply of Aptos tokens (APT) at mainnet was 1 billion tokens. APT will have 8 digits of precision as part of the fraction where the minimal unit is called an Octa.
This pool of tokens is designated for ecosystem-related items, such as grants, incentives, and other community growth initiatives. Some of these tokens have already been allocated to projects building on the Aptos protocol and will be granted upon the completion of certain milestones.
A majority of these tokens (410,217,359.767) are held by the Aptos Foundation, and a smaller portion (100,000,000) is held by Aptos Labs. These tokens are anticipated to be distributed over a ten-year period.
125,000,000 APT available initially to support ecosystem projects, grants, and other community growth initiatives now and in the future for the Community category.
5,000,000 APT available initially to support the Aptos Foundation initiatives for the Foundation category.
1/120 of the remaining tokens for the community and the Foundation are anticipated to unlock each month for the next 10 years.
All investors and current core contributors are subject to a four-year lock-up schedule, excluding staking rewards if applicable.
Token holders who stake their tokens to a validator operator for purposes of securing the network and achieving consensus may receive staking rewards and it is split between validator operators and stakers and are not subject to restrictions on distribution.
The maximum reward rate starts at 7% annually and is evaluated at every epoch and the rate declines by 1.5% annually until a lower bound of 3.25% annually (expected to take over 50 years).
While some Twitter users have reported being unable to send transactions, others have noticed the Aptos Discord was closed for a few hours following the launch of the mainnet and have speculated that the team was attempting to stop discussion around potential launch issues.
According to Aptos’ blockchain explorer, the network is currently witnessing around 4 TPS.