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.
- Will Bitcoin Rally as JPMorgan Tips Fed To End QT at FOMC Meeting?
- White House Crypto Czar Backs Michael Selig as ‘Excellent Choice’ To Lead CFTC
- Ripple Explores New XRP Use Cases as Brad Garlinghouse Reaffirms Token’s ‘Central’ Role
- Kyrgyzstan Adds Binance Coin (BNB) to National Crypto Reserve, CZ Confirms
- Ripple-Backed Evernorth Grows XRP Treasury to $1B Ahead of Nasdaq Listing
- Analyst Eyes Key Support Retest Before a Rebound for Ethereum Price Amid $93M ETF Outflows and BlackRock Dump
- Bitcoin Price Eyes $120K Ahead of FED’s 98.3% Likelihood to Cut Rates
- PEPE Coin Price Prediction as Weekly Outflows Hit $17M – Is Rebound Ahead?
- HBAR Price Targets 50% Jump as Hedera Unleashes Massive Staking Move
- Chainlink Price Outlook: Analyst Predicts $100 as Reserve Adds 63K LINK
- SUI Price Prediction as TVL and Monthly DEX Volume Hit All-Time Highs- What’s Next?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
