Aptos Foundation drops 20M tokens to its early testers

Aptos Foundation Layer-1 blockchain company announced Oct 18 that it had given away APT tokens to its network participants.

The foundation announced that it had distributed approximately 20 million APT tokens to 110,235 eligible beneficiaries. This represented 2% of its initial supply of 1 billion APT tokens. Based on the market price of the token at the time, the estimated value for the airdropped tokens was between $200-$260 millions USD.

According to the blockchain company’s website, the eligibility criteria for airdropped tokens was based upon two categories: users who submitted an Aptos Incentivized testnet application and users who minted an “APTOS: ZERO non-fungible token or NFT” NFT.

The company stated that Aptos tokens can only be claimed through the official Aptos Community site. Additional information was provided in an eligibility email. To avoid fraud, they advised users to be cautious and only trust official sources.

Aptos Foundation’s initial airdrop to its community members occurs at a time when it has been subject to much scrutiny by members on Twitter.

Related to Aptos Labs’ Motion to Dismiss Glazer’s $1 Billion Lawsuit

Paul Fidika, a Solana Blockchain developer, allegedly claimed that Aptos staking was his work. He also tweeted that Aptos had “Dodgey tokenomics” and “FakePOS.”

Aptos was founded by Mo Shaikh, an ex-Meta employee and Avery Ching who were both involved in Mark Zuckerberg’s failed Diem blockchain initiative. Meta sold its intellectual property and assets, as Diem was shut down in February 2018.

Aptos has closed a $150 million funding round, which was co-led jointly by FTX Ventures, Jump Crypto and Venture studios FTX Ventures. Additional participation came from Andreessen Horowitz and Apollo, Franklin Templeton, Circle Ventures, and Circle Ventures. Bloomberg reports that the funding round more than doubled startup’s value, which was above $1 billion at March.

Opinion writer on 7trade7