Just-In: Crypto Exchange Abruptly Leaks Aptos (APT) Tokenomics

South Korean crypto exchange Upbit unexpectedly leaks Aptos (APT) tokenomics in its PDF report. According to a chart in the report, 51.02% of APT tokens are allocated to the community, 19% to core contributors, 16.50% to the foundation, and 13.48% to investors. Major crypto exchanges including Binance, FTX, Coinbase, Huobi, and OKX have already announced listing the Aptos (APT) token by Aptos Labs.

Upbit Report Accidentally Leaks Aptos (APT) Token Economics

A prominent crypto influencer Cobie raised concerns over several major exchanges listing the Aptos (APT) token without details on tokenomics. He claims exchanges must provide investors with basic information on crypto or tokens they are buying.

“It’s not great that FTX/Binance etc are all listing Aptos without any tokenomics transparency at all. Surely it should be a prerequisite to listing something that users can have the basic information on what they’re buying.”

Several Twitter users later revealed that South Korea’s top crypto exchange Upbit has accidentally leaked APT token economics in their report. Aptos Labs has kept the genesis token supply to 1 billion APT tokens. Moreover, the APT token distribution is 51.02% to the community, 19% to core contributors, 16.50% to the foundation, and 13.48% to investors.

After the leak, Aptos Labs in a tweet released brief information on the Aptos tokenomics. It cites an article consisting of details on the initial supply, distribution schedule, estimated token supply schedule, and expected token supply changes.

Aptos is a proof-of-stake (PoS) Layer-1 blockchain by Aptos Labs. It uses the Move programming language and virtual machine (MoveVM) for dApp development. The team claims Aptos can handle 130,000 transactions per second.

Crypto Exchange Listing APT Token

Several crypto exchanges including Binance, FTX, Coinbase, Huobi, and OKX announced listing the Aptos (APT) token by Aptos Labs. The APT token will be available for trading from Wednesday, October 19 at 1 AM UTC.

Binance users can trade the Aptos token in APT/BTC, APT/BUSD, and APT/USDT pairs. However, withdrawals for APT will open on October 20 at 1 AM UTC. Also, Binance will add APT to its borrowable asset list for cross-margin and isolated margin pairs.

Whereas, crypto exchange FTX users can trade Aptos in APT/USD and APT/USDT trading pairs. The deposits and withdrawals are already opened on FTX.

Varinder is a Technical Writer and Editor, Technology Enthusiast, and Analytical Thinker. Fascinated by Disruptive Technologies, he has shared his knowledge about Blockchain, Cryptocurrencies, Artificial Intelligence, and the Internet of Things. He has been associated with the blockchain and cryptocurrency industry for a substantial period and is currently covering all the latest updates and developments in the crypto industry.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.