When was APT coin issued? Learn about the origin of APT coin in one article

The APT coin, conceptualized as the native cryptocurrency of the Aptos blockchain, serves as a key element in its architecture, enabling staking, transaction fees, governance, and contributing to the platform's development.

Oct 05, 2024 at 06:24 pm

APT Coin: Tracing Its Origin

1. Genesis of Aptos:

Aptos is a blockchain platform founded by former Meta employees aiming to revolutionize web3 technology. The project emerged in 2021 and has its roots in the Diem stablecoin initiative, which Meta previously pursued.

2. APT Coin Conceptualization:

The APT coin, the native cryptocurrency of the Aptos blockchain, was conceptualized as a key element in the platform's architecture. It serves multiple purposes, including:

Staking: APT holders can stake their coins to secure the network and earn rewards.
Transaction Fees: APT is used to pay for transaction fees on the Aptos blockchain.
Governance: APT holders can participate in governance decisions and vote on proposals affecting the network.

3. APT Token Sale and Issuance:

The initial APT token sale took place in March 2022, raising a total of $150 million. Subsequently, the APT coin was issued on the Aptos mainnet in October 2022, marking the official launch of the blockchain platform.

4. APT Distribution:

The initial distribution of APT coins was as follows:

Seed and Strategic Round: 51%
Community Round: 13%
Foundation: 16%
Core Contributors: 10%
Ecosystem Fund: 10%

5. APT Price History:

Since its launch, the APT coin has experienced significant volatility. After reaching an all-time high of $14.56 in November 2022, the price dropped sharply alongside the broader cryptocurrency market. As of February 2023, APT trades around $9.60.

6. Current Status of Aptos:

Aptos is still in its early stages of development but has made notable progress in recent months. The platform boasts a rapidly growing ecosystem of developers and projects. It remains to be seen if Aptos can fulfill its ambitious goals and establish itself as a leading blockchain solution.

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