Binance announces Aptos listing

The cryptocurrency exchange Binance announced the listing of Aptos (APT), a token from a project by former Meta employees.

#Binance will list Aptos $APT.

— Binance (@binance) October 18, 2022

The platform has already opened deposits. Trading in the APT/BTC, APT/BUSD and APT/USDT pairs will begin on the spot market on October 19.

The listing was also announced by FTX and Coinbase.

Coinbase will add support for Aptos (APT) on the Aptos network. Do not send this asset over other networks or your funds may be lost. Inbound transfers for this asset are available on @Coinbase & @CoinbaseExch in the regions where trading is supported.

— Coinbase Assets (@CoinbaseAssets) October 18, 2022

Venture units of the exchanges above invested in Aptos Labs, the startup behind the blockchain. In March 2022 the company raised $200m, and in July closed a Series A financing round of $150m.

Binance Labs separately supported the project as a strategic partner.

On October 17, Aptos Labs announced the launch of its mainnet.

Mainnet has arrived.https://t.co/wZajVZMa5Q

— Aptos (@AptosLabs) October 17, 2022

The protocol uses the Move programming language, developed by Meta for the closed Diem project (formerly Libra). The network is positioned as a scalable Web3-users blockchain with original mechanisms for parallel execution of smart contracts (Block-STM) and the AptosBFT consensus.

However, an analyst using the alias Paradigm Engineer #420 noted that the launched mainnet has real throughput lower than that of Bitcoin or Ethereum. Instead of the claimed 100 000 TPS, only 4-6 TPS.

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 expert was unsettled by the tokenomics of the project. Of the total supply of 1 billion APT, 80% is controlled by the team. Almost all coins were distributed through private token sales. Since Aptos did not conduct any airdrops, retail users have access to the asset only via the exchange.

«Вас кинут. Единственная игра, которую я вижу в Aptos — это быстрый фарминг и дамп», — полагает аналитик.

He believes that in the long run the blockchain will lose to another Move-based project — Sui. In his view, the Aptos team understands this and is rushing the mainnet launch.

Earlier, Aptos developers integrated the blockchain with the cross-chain protocol LayerZero.

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