Aptos

Halal Rating :
Comfortable
Last Price $5.9 Last updated:
Rank 35
1D Change 4.75 %
Market Cap $3.39b
Circulating supply 574,545,590
Maximum supply None

Crypto Overview

Categories
  • Binance Labs Portfolio
  • Aptos Ecosystem
  • Circle Ventures Portfolio
  • Layer 1
  • FTX Bankruptcy Estate
  • MoveVM (MVM)

Overview

Aptos is a Layer-1 blockchain platform launched in October 2022 by former Meta (Facebook) employees who worked on the Diem blockchain project. The platform utilizes the Move programming language and aims to provide high throughput, low latency, and enhanced security for decentralized applications.

Purpose and Utility

The primary purpose of Aptos is to serve as a smart contract platform for building decentralized applications (dApps). APT tokens are used for transaction fees, staking, and governance. The network employs a Proof-of-Stake consensus mechanism where token holders can stake their APT to help secure the network and earn rewards.

Current Usage and Adoption

Aptos has gained significant traction in the DeFi space, with multiple decentralized exchanges, NFT marketplaces, and other applications built on its platform. As of 2024, the network processes hundreds of thousands of transactions daily and hosts a growing ecosystem of dApps.

Development Activity

The project maintains active development with regular updates and improvements to its core protocol. The development team consistently pushes updates to the codebase, and the ecosystem continues to expand with new projects and partnerships.

Token Distribution

The initial token distribution allocated 51.02% to the community, 19% to core contributors, 16.5% to the foundation, and 13.48% to investors. Vesting schedules are in place for team and investor allocations, showing commitment to long-term development.

Revenue Model and Operations

The platform generates revenue through transaction fees, which are used to compensate validators and secure the network. The model does not involve interest-bearing activities or forbidden elements in its core functionality.

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