Aptos, from ex-Meta team, makes its blockchain debut


The much-anticipated launch of the layer-1 blockchain, Aptos, is here with the debut of the network’s mainnet. Aptos blockchain attracted much investor attention as its team includes former Meta (the new avatar of Facebook) employees, who worked on the company’s failed DIEM stablecoin.

Aptos Labs made news earlier this year after several successful funding rounds. In May, the network secured $200 million in a funding round led by a16z, along with other investors such as Tiger Global, Katie Haun, Multicoin Capital, FTX Ventures, Coinbase Ventures, Binance Labs and PayPal Ventures. This was followed by another funding round that raised $150 million, led by FTX Ventures and Jump Crypto, with participation from Binance Labs. Following the funding rounds, Aptos Labs is reportedly valued at $2 billion.

Now, it remains to be seen if the layer-1 blockchain lives up to the hype and its lofty valuation as it prepares to test the waters.

Furthermore, the crypto exchange giant and one of Aptos’ top investors, FTX, already declared that it will list Aptos’ APT token on its platform. Last week, the official Twitter handle of FTX said it will list APT tokens on its spot market from 19 October 2022.

The APT mainnet was finally launched after more than four years of testing. It promises “to create universal and fair access to decentralized applications for billions of people through a safe, scalable, and upgradable blockchain.”

Aptos laid out the company’s core principles in its manifesto :

Upgradeability: The network claims to support rapid evolution of the blockchain, further facilitating optimized user experiences for current and future use cases. It would also allow for the integration of next-generation technological advancements.

Move on Aptos: Move language is natively integrated for safe asset management along with fast and secure transaction execution. Move smart contracts are upgradable and support secure evolution for all Aptos applications.

People-first user experience: The network guarantees a developer- and user-friendly interface, prioritizing a simple and relatable experience for all to make web3 more accessible.

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