{"id":26436,"date":"2022-10-21T12:26:58","date_gmt":"2022-10-21T06:56:58","guid":{"rendered":"https:\/\/coinswitch.co\/switch\/?p=26436"},"modified":"2022-10-21T12:39:33","modified_gmt":"2022-10-21T07:09:33","slug":"aptos-foundation-airdrops-20-million-tokens","status":"publish","type":"post","link":"https:\/\/coinswitch.co\/switch\/news\/aptos-foundation-airdrops-20-million-tokens\/","title":{"rendered":"Aptos Foundation airdrops 20 million tokens"},"content":{"rendered":"

The early bird gets the worm, and early adopters of Aptos got free tokens a.k.a. airdrops. Following its much-awaited launch, the Layer-1<\/a> blockchain company rewarded its early participants with free APT tokens.<\/p>\n

The Aptos Foundation shared the airdrop news on 18 October via a series of tweets<\/a>.<\/p>\n

The foundation airdropped the tokens to users who completed an application for an Aptos Incentivized Testnet and to users who minted an APTOS: ZERO testnet NFT. As many as 110,235 eligible participants received 20 million APT tokens, according to the company. The airdropped tokens constitute 2% of APT\u2019s initial total supply of 1 billion.<\/p>\n

The airdrop was estimated to cost $200\u2013$260 million based on market prices at the time.<\/p>\n

Aptos airdrop: The context<\/h2>\n

Aptos co-founders Mo Shaikh and Avery Ching, both former Meta employees, launched<\/a> the blockchain on 18 October. The airdrop was launched a day later as part of a marketing strategy and was meant to show the community appreciation for its support.<\/p>\n

Additionally, Aptos Foundation\u2019s first airdrop came at a time when the project had been under significant scrutiny on Twitter. Several users, on social media platforms, criticized the coin for unclear tokenomics, inconsistent communications, and significantly lower transaction throughput than promised. (See the tweet below by popular crypto podcaster Cobie, for example.)<\/p>\n

\"Aptos<\/p>\n

APT off to a sluggish start despite airdrop<\/h2>\n

Despite its much-anticipated arrival, token APT had a slow start on its first day of trading. Significant disparities have been noted between the numbers reported by different aggregators, but they all seem to be on the lower side. CoinGecko<\/a> reveals that, at publishing time, APT\u2019s price has dropped to $$7.54. The 24-hour trading volume is at $303,995,891. Binance data, on the other hand, suggests<\/a> that APT\u2019s value briefly spiked to as high as $59.39 before crashing to under $10.<\/p>\n

After the release of the airdrop, the foundation was called out by WU blockchain<\/a>, Asian crypto news provider, for airdropping APT tokens without an anti-Sybil attack system. The absence of this system, which is meant to help preventing a specific kind of attack, led to \u201csome people getting a lot of tokens.\u201d That led to selling pressure and the crash.<\/p>\n","protected":false},"excerpt":{"rendered":"

The early bird gets the worm, and early adopters of Aptos got free tokens a.k.a. airdrops. Following its much-awaited launch, the Layer-1 blockchain company rewarded its early participants with free APT tokens. The Aptos Foundation shared the airdrop news on 18 October via a series of tweets. The foundation airdropped the tokens to users who […]<\/p>\n","protected":false},"author":70,"featured_media":26437,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_ayudawp_aiss_exclude":false,"footnotes":""},"categories":[7701],"tags":[6467,6536],"class_list":["post-26436","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-crypto","tag-news"],"acf":{"json_ld_schema":"\n[{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"@id\":\"https:\/\/coinswitch.co\/switch\/us-stocks\/wall-street-jottings\/#FAQPage\",\"headline\":\"Wall Street jottings: A personal, guided tour to investing in US stocks\",\"keywords\":\"Personal Guide, US Investing, \",\"datePublished\":\"2022-07-22T13:28:55+05:30\",\"dateModified\":\"2022-09-19T19:04:28+05:30\",\"dateCreated\":\"2022-07-22T13:28:55+05:30\",\"author\":{\"@type\":\"Person\",\"name\":\"Akumbenla Jamir\",\"description\":\"\",\"url\":\"https:\/\/coinswitch.co\/switch\/author\/akumbenla\/\",\"sameAs\":[],\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/38aea2873be2850fa7502413626eea19?s=96&d=mm&r=g\",\"height\":96,\"width\":96}},\"image\":[{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/coinswitch.co\/switch\/us-stocks\/wall-street-jottings\/#primaryimage\",\"url\":\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/07\/Wall-Street-Jottings.jpg\",\"width\":\"1800\",\"height\":\"1080\"},{\"@type\":\"ImageObject\",\"url\":\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/07\/Wall-Street-Jottings-1200x900.jpg\",\"width\":\"1200\",\"height\":\"900\"},{\"@type\":\"ImageObject\",\"url\":\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/07\/Wall-Street-Jottings-1200x675.jpg\",\"width\":\"1200\",\"height\":\"675\"}]}]\n","json_ld_custom_schema":"","youtube_vodeo_url":"","seo":{"title":"","keywords":"","description":"","canonical":""},"blog_banner_image":false,"blog_coin":false,"download_the_app":{"button_value":"","button_url":""},"twitter_card":{"twitter_title":"","twitter_description":"","twitter_link":""},"maturity_tag":"","post_author":false,"guest_author":false,"hide_toc":false,"select_disclaimer":"Article Default Disclaimer","key_takeways":false},"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts\/26436","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/users\/70"}],"replies":[{"embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/comments?post=26436"}],"version-history":[{"count":3,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts\/26436\/revisions"}],"predecessor-version":[{"id":26444,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts\/26436\/revisions\/26444"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/media\/26437"}],"wp:attachment":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/media?parent=26436"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/categories?post=26436"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/tags?post=26436"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}