Just In: Why Aptos Labs Wants Binance To Stop $APT Listing

Following the accidental leak of Aptos Tokenomics, the team is reportedly asking big exchanges like Binance to stop listing of APT perpetual contracts. Earlier on Tuesday, South Korean crypto exchange Upbit unexpectedly leaked the Aptos (APT) tokenomics. Top crypto exchange Binance has already announced the listing of APTUSDT perpetual contracts on October 19. In this context, the Aptos Labs team is reportedly persuading Binance to stop the listing on an urgent basis.

Binance Listing of Aptos (APT) On October 19

Some of the major crypto exchanges have already announced listing the Aptos (APT) token by Aptos Labs. The exchanges include Binance, FTX, Coinbase, Huobi, and OKX. Although some of these exchanges are yet to announce the date of listing, Binance has already announced the schedule. In a blog announcement, the exchange said Binance Futures will launch APT perpetual contracts on October 19. Meanwhile, crypto reporter Colin Wu tweeted saying the Aptos Labs team is in urgent communication with Binance to stop the listing.

“Aptos asked major exchanges not to list perpetual contracts within 2 weeks, but Binance announced that APTUSDT perpetual contracts will be listed on October 19th. Aptos is urgently persuading Binance to stop.”

FTX, which is an investor in the Aptos project, said it will list Aptos (APT) spot market on October 19. The Aptos (APT) trading will be accessible in two trading pairs, APT/USD and APT/USDT.

What Is Aptos (APT) Token?

Aptos is a layer-1 proof-of-stake blockchain developed by Aptos Labs, founded by core contributors of the Diem blockchain. The leaked PDF report on APT tokenomics revealed details on the cryptocurrency’s shareholding. As many as 51.02% of APT tokens are allocated to the community, while 19% are allocated to core contributors, 16.50% to the foundation, and 13.48% to the investors.

Launched on October 12, the initial total supply of Aptos tokens (APT) at mainnet was 1 billion tokens. Prior to the tokenomics leak, Cobie, a crypto influencer, wondered how exchanges like FTX and Binance are all listing Aptos without any tokenomics transparency. “Surely it should be a prerequisite to listing something that users can have the basic information on what they’re buying.”

In a latest, crypto exchange OKX announced its timeline for APT/USDT perpetual contracts. “We are pleased to announce that USDT-margined perpetual swaps for APT will be enabled on October 19.”