Aptos’ true colors revealed: TPS is only about 4, and over 80% of token supply is controlled by institutions

In the early morning of October 18, 2022 Beijing time, the highly anticipated new generation public chain Aptos announced the launch of its mainnet.

Subsequently, many first-tier exchanges such as FTX, Binance, Huobi Global, and Coinbase took the initiative to announce the launch of the Aptos token APT without any transparency in token economics .

As we all know, Aptos has attracted much attention in the industry. Previously, Aptos has completed multiple rounds of financing with the participation of top venture capital firms such as a16z, FTX Ventures, Jump Crypto, and Binance Labs, with a valuation of up to US$2 billion.

Now, Aptos has finally revealed its true colors.

What is the current transaction speed of Aptos?

One of the main visions of Aptos is to be a highly scalable, high-throughput public chain, promising 100k TPS in its final version.

However, according to Aptos browser data, Aptos' current real-time TPS is approximately 4 transactions per second, even lower than Bitcoin, with a total of 102 active validators.

And most of these transactions are not actual transactions, but just validators communicating and setting state checkpoints (StateCheckpoint), and writing block metadata (BlockMetadata).

In addition, according to Twitter user ParadigmEng420, the Aptos discord was disabled between Genesis and 1:30 pm Pacific Time, and users were unable to chat or ask any questions. Several channels were later opened, but important channels such as development resources are still closed.

Aptos officially responded that the Aptos network is operating as expected, and corresponding activities will increase with the launch of ecosystem projects . Therefore, the comment function of the official Discord and Telegram channels has been closed to protect the community from fraud during this window. Developers are actively monitoring and the above channels will return to normal in due time.

Aptos Token Economics: 80% of Tokens Controlled by the Team and Investors

Currently, the token economics of Aptos is only partially disclosed on the official browser. Let’s take a look at the token economics of Aptos based on the on-chain data.

The total supply of Aptos (APT) is 1,000,778,596.08, but 821,150,724.78 is currently staked. This means that more than 80% of the token supply is controlled by the team and investors.

There are currently no airdrops or other methods to earn mainnet Aptos tokens, nor are there any public sales or other ways for users to obtain tokens.

That is, almost all of the token supply went to private parties.

So, where are the remaining 200 million Aptos (APT) tokens? Some may be future validator incentives, and the other part may be in the hands of project teams and investors. These liquidity tokens may eventually flow to retail investors on exchanges such as FTX, Binance, Huobi Global, and Coinbase.

Twitter user ParadigmEng420 bluntly stated that aptos retail investors will be cut, and the only game he will play on aptos is to quickly mine, withdraw and sell.