Aptos airdrop landed in the wee hours of the morning on October 19, 2022 (GMT+3). While the airdrop remains somewhat lucrative, given the bear markets, a sinister cloud of mystery still surrounds the project.
Here is what you need to know about the Aptos airdrop.
First Things First
Even though the project is receiving heavy backlash and FUD in the Crypto Twitter community space, the airdrop (150 APTOS for each wallet) is worth about $1100 at the current price. It might be a failed project, but it is a failed project that pays.
According to the Aptos Foundation, the eligibility criteria for the airdrop included the following:
- Users who completed an application for an Aptos Incentivized Testnet
- Users who minted an APTOS: ZERO testnet NFT
Moreover, the foundation also used several measures to remove boys and Sybil farmers from the airdrop. However, this does not mean they successfully rooted out all of them.
What is Aptos?
Aptos is a Layer 1 blockchain dubbed the safest and most production-ready network. The blockchain was built by a team of 30+ highly experienced tech engineers and 292 developers. They also brag ZERO reported downtime in their private mainnet. The project was built by former devs from the Diem Association (developer branch of the dead facebook META stablecoin).
In describing the Aptos network, words like ‘low latency,’ ‘10k TPS’, ‘sub-second latency,’ and 100k+ TPS’ were thrown around.
However, despite the positive vibe from the devs, several critics from the CT space have noted that Aptos is currently (19 October 2022, 10:37 EAT) slower than Bitcoin. In addition, the majority of the $APT tokens have been staked.
After promising 100k+ TPS, Aptos only delivers about 38TPS.
Aptos Tokenomics
The total supply of Aptos tokens is 1,000,739,234.25. However, 821,111,362.91 APT were already staked at the time of Genesis. This means that over 80% of the token supply is in the hands of the team and investors. There was previously no airdrop or any other way to earn APT tokens. Also, there was never a public sale. All the tokens were in the hands of private parties.
Such concerns plagued the Aptos CT space just mere hours before the launch of the Mainnet, and in a hurried attempt to salvage the situation, Aptos Foundation put together a quick airdrop.
Venture Capital Investors
Aptos raised $350 million in funding from major Tier-1 exchanges like FTX, Binance, Jump Capital, A16Z, Apollo Global, and Circle Ventures. Due to this, the Aptos token (APT) was listed on the associated Tier-1 exchanges immediately upon launch, which rarely happens in space.
Claim the Airdrop
Nevertheless, money is money, and you might as well cash in on this opportunity before the VCs dump their (200M+) tokens on you. If you participated in the testnet successfully and would like to claim (and dump) your airdrop, you can navigate to the Aptos Community Platform, sign in, and visit the airdrop page.
NB: APT tokens can only be claimed via the official Aptos Community page. If you are eligible, you will have received an email from Aptos Foundation!