Aptos Foundation airdrops 20M tokens to its early testnet users

APT traded down 40.5% after Aptos Foundation airdropped 20.1M tokens to 110,235 crypto addresses.
October 20, 2022 - Cynthia Chung

Layer-1 blockchain company Aptos Foundation airdropped 20.1 million free APT rokens to its early users on Oct 18, according to its announcement. However, the tokens experienced a 40.5% drop shortly after the airdrop opened, according to data from Coingecko.

‘The Aptos Foundation has provided early network participants with APT tokens. If you are eligible to claim, you will receive an email from airdrop@aptosfoundation.org in the next few hours,’ Aptos wrote on Twitter.

A total 110,235 crypto addresses on Aptos were eligible to receive the airdrop. The first eligible group who are eligible to claim 300 APT tokens are users who finished applying to the Aptos incentivized testnet. The second group of users who are eligible to claim 150 APT tokens are those who have minted an Aptos Zero NFT on the testnet.

Before Aptos’ new layer 1-blockchain launched on Oct 12, Aptos announced it had 130,000 transactions per second (TPS) but at launch, it was reported to have less than 7 TPS per second, a significantly lower transaction throughput than initially promised. 

When Aptos released tokenomics, it sparked criticism for the high allocation of 49% to developers and investors.

Aptos was founded by former Meta employees Mo Shaikh and Avery Ching. In July Aptos raised US$150 million in a funding round led by FTX Ventures and Jump Crypto, with other participants including Andreessen Horowitz, Apollo, Franklin Templeton and Circle Ventures. 


Photo: Aptos


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