The newly launched blockchain, Aptos, has come under harsh criticism from some of its community members. These complaints were based on allegations that the tokens distributed as airdrops to its early blockchain testers in October were not distributed evenly among its stakeholders.
Aptos community members believe that the distribution of the airdropped tokens (APT) among the core stakeholder groups was unfair because over 500 million token units were distributed among them. Since the onset of these accusations, there has been concern within the Aptos community that the creators, core contributors, and Aptos foundation may decide to liquidate the project at any time by selling off their tokens in the cryptocurrency retail market.
The CEO of Aptos, MO Shaikh, has responded defensively, claiming that the allegations leveled against him and his team members regarding token distribution are false.
He claimed that, when compared to other projects, Aptos’ token distribution is the most equitable.
“Our goal was to establish a tokenomics that will be fair to the entire community, and we have succeeded in doing that. We never intended to be shady when we set the tokenomics of our project. When compared to other blockchains, we have some of the lowest distributions to investors if you look at the nature and dynamics of our tokenomics distribution. It is one of the most equitable things we have ever seen, even when compared to other projects,” said Mo Shaikh.
Mo Shaikh asserted that the restrictions on investors are stringent because no investor is permitted to sell tokens outright in retail markets. This is due to the lockup period set on each investor’s account.
According to information retrieved from CoinMarketCap on November 8, 2022, the native token of the recently launched Layer 1 blockchain is currently trading at $6.30 with a 24-hour trading volume of $443,527,528.
If you would like to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, and Instagram.
“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”
