CEO of Aptos, the newly released layer 1 blockchain. It has defended the project’s token distribution as being “fair” after receiving much criticism from the community.
Aptos gave out APT tokens to people who took part in early network testing in October. But concerns immediately surfaced about the distribution of the tokens. The main sponsors, investors, and the Aptos Foundation have all received large amounts of tokens. And this has led to concerns that investors and the Foundation may liquidate their tokens. This will cause a negative reaction to the market.
“Our goal when we design the token is to create something that is fairly representative of the community,” Aptos CEO Mo Shaikh said. will find that we are one of the fairest projects we have seen compared to any other project.”
Ethereum is allocated only 9.9% of the supply to the founding team and another 9.9% to the Ethereum Foundation.
Aptos, made up of former Meta employees who worked on the Diem blockchain, raised $200 million in March, followed by $150 million in Series A in July. with participation from FTX Ventures and Jump Crypto.
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