A look into Aptos (APT)

As part of my research into new coins to potentially invest in for the upcoming bull run, I took a closer look at Aptos. Below are main key points which may help decided whether it's a buy or not.

Personally I think it is worth investing into. I don't hold any yet, but planning on starting to buy early next year after few more unlocks. Unlock schedule is stretched over 10 year period (see Unlock Schedule section on details), so there shouldn't be any large token dumps onto the market which would drive the price down. The blockchain itself is nothing revolutionary, but it's Move language is considered to be developer friendly, which should help adoption. Big VC companies are backing it, and while this is usually not ideal, it also means that they will want the price to go up considerably to take profits.

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What is Aptos (APT)?

Aptos is L1 Proof of Stake blockchain. It supports smart contracts written in a language called Move, which is Rust based. Rust itself was developed by Meta (Facebook) engineers while working on now abandoned Diem blockchain.

Aptos blockchain can achieve a theoretical throughput of 150,000 transactions per second. To achieve this high number of transactions processed, it employs parallel execution.

Aptos was founded by former Meta employees Mo Shaikh and Avery Ching, who worked on now discontinued Diem blockchain for Meta.

Aptos mainnet went live on 18th October 2022.

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Tokenomics

Circulating supply: 246,767,755

Total Supply: 1,062,246,019

Circulating supply is at 23.2%

Cycle low: $3.21

Current price (27/10/23): $6.37

Market Cap: $1,571,129,171 (rank #33)

Fully diluted market cap: $6,761,876,243

Staking rewards: currently 6.4% (up by 1.03% in last 30 days)

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Allocation

Community: 51%

Core contributors: 19%

Foundation: 16.5%

Investors: 13.5%

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Vesting Schedule

Community - linear unlock over a period of 120 months (10 years)

Core foundation - Cliff 2 years, then linear unlock over a period of 35 months

Foundation - linear unlock over a period of 120 months (10 years)

Investors - Cliff 1 year, then linear unlock over 35 months

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Unlock Schedule

Unlocking happens on the 12th of every month, next one being on 12th November.

2.34% of total supply is unlocked every month for the next 6 months.

Then 1.06% of total supply is unlocked every month for 30 months.

After that 0.43% of total supply is unlocked every month until the end of the unlock period (total 120 months).

If we consider the next bull run to happen in 2025, we'll have 49.96% of total supply unlocked by April 2025. By December 2025 we'll have 58.44% of total supply unlocked. This is more than double of the current circulating supply.

If we take the current price, 58.44% of total supply unlocked would give it a market cap of $3,954,346,773 - almost 4 billion. Looking at the current market cap rankings, that would put it at #20, above Avalanche and below Shiba Inu.

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Usage

Note: daily usage statistics (marked with today) are for 26th or 27th of October, depending on your time zone.

Active validators: 113

Number of staked coins (this includes locked coins not released into the market): 890,032,211

Current transaction per second (real time, at the time of looking up data): 12

Peak transactions per second in past 30 days: 5987

Total blockchain transactions: 311,744,245

Daily user transactions (today): 380,195

Monthly active account (as of today): 1,495,574

Daily active accounts (today): 52,519

New accounts created (today): 24,923

Deployed contracts (today): 34

Contract deployers (today): 10

https://explorer.aptoslabs.com/?network=mainnet

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Ecosystem

There are currently 90 projects utilising Aptos. These include DeFi, NFT, Gaming and Wallets. For a full list visit https://aptosfoundation.org/ecosystem/projects/all

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Backers

Andreessen Horowitz

Tiger Global

Multicoin Capital

FTX Ventures

Jump Crypto

Binance Labs

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References

https://www.coinbase.com/earn/staking/aptos#:~:text=This%20means%20that%2C%20on%20average,being%20staked%2C%20is%2083.50%25.

https://coinmarketcap.com/currencies/aptos/

https://cryptorank.io/price/aptos/vesting

https://aptosfoundation.org/currents/aptos-tokenomics-overview

https://token.unlocks.app/aptos

https://aptosfoundation.org/ecosystem/projects/all

https://explorer.aptoslabs.com/?network=mainnet