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Aptos Labs (APT)

Aptos Labs (APT)

Alex R.
November 06, 2022

Aptos (APT)

Aptos Labs - Opening the gateway to the Aptos Network

Committed to developing products and applications on the Aptos blockchain that redefine the web3 user experience.

https://aptoslabs.com/

Summary

Aptos is a Layer 1 blockchain that aims to solve the age-long problem of scalability that plagues several layer1 blockchains like Bitcoin and Ethereum. The project was created by Mo Shaikh and Avery Ching in 2021. The duo formerly worked on Facebook’s ill-fated blockchain project known as Diem.

APT token is designed to act as a governance and utility token. Additionally, APT provides access to services like Aptos Names and allows developers to build dApps on the blockchain. Holders can also stake APT to successfully validate transactions on its blockchain. This is currently only available to validators.

Aptos, earlier in October 2021, airdropped 2% of its initial supply to testnet users driving intense hype to its ecosystem. The fact that several projects are currently on the Aptos blockchain despite its early development is a great one for the blockchain. It shows that there’s likely to be more utility for APT as these projects launch in the future.

Aside from price increases and making quick profits. Aptos is tackling scalability issues that have plagued the blockchain ecosystem. This is something that gives it an edge in terms of sustainability.

To achieve this, Aptos uses the delegated proof of stake favored by many new cryptocurrencies to ensure scalability. According to Aptos, its blockchain will be capable of processing over 120k transactions per second using a unique feature called a parallel execution engine (Block-STM).

Its current 4200 TPS is significantly faster than Ethereum, Binance Chain and Cardano. Aptos has extensive research papers like Cardano and has gathered significant funding from VCs. So far, the Aptos blockchain has gained momentum, and over 50 decentralized projects are in its ecosystem.

Aptos provides utility using its native token APT, which is used for governance and gas fees within its ecosystem.

Aptos has been able to make significant gains in a relatively short period of time. With a large chest of funds, there's much to be expected from Aptos as it looks to build a scalable blockchain ecosystem.

Aside from building its mainnet, Aptos needs to continue its growth trajectory and attract dApps looking for more scalable alternatives to existing options in the crypto ecosystem.

Utility

7.9

Roadmap

Aptos has a dynamic roadmap that gets updated between now and the conclusion of the incentivised testnets. Many of them are mentioned below, with most of them trackable through the repository:

2022 Q3: The demo is available on Testnet Community Development Integration of Petra, Martian, and Pontem wallets
2022 Q4: Launch AptosLaunch on Mainnet Integration with Blocto, Crypto.com, and Bitkeep wallets Project Voting:
2023 Q1 Onboard initial wave of launchpad projects
2023 Q2: Begin adding NFT projects to our Launchpad with the Insurance feature
2023 Q3 Add more chains to the service offering.

However, compared to other blockchains with their roadmap clearly stated on their website, this leaves much to be desired.

8.4

Partners

Aptos blockchain is still in its testnet phase and does not have an official list of partners and integrations. However, it remains one of the most well-funded blockchain projects. In March 2021, Aptos secured $200 million in an investment round headed by Andreessen Horowitz, Coinbase Ventures and other crypto-based VCs. This was followed by another funding round in July 2022 headed by FTX Ventures which raised $150 million.

The amount of money raised shows that Aptos is seen by many in the blockchain industry as the real deal and when its mainnet launches, I expect to see several collaborations and integrations.

8.9

Leadership/Management

Aptos founders Mo Shaikh and Avery Ching are also respected in the tech space, and the project has over 350 people working to ensure its success. Aside from that, Aptos is also divided into the Aptos Labs and Aptos Foundation.

Aptos Labs focuses on the technical aspect of updating the blockchain and making improvements, while Aptos Foundation is dedicated to supporting the growth and development of the Aptos protocol. This is a great move similar to other successful blockchain projects like Cardano and Ethereum.

8.7

Ecosystem

Ahead of the mainnet launch, the Aptos ecosystem already has over 130 projects, including dozens of DeFi dApps. Liquidswap by Pontem Network, Hippo, Cetus, and Enchanted Finance are Aptos's most popular DEX and AMM dApps. Liquidswap has already attracted 160k unique users.

You can also test numerous lending protocols on Aptos, such as Argo, Aptin Finance, Mobius, Vial, and Abel Finance. Tortuga Finance and Ditto are two Aptos-based liquid staking systems with active dApps. Stader and Stratios are two more teams working on liquid staking. Therefore there are a lot of activities in its ecosystem.

7.7

iRankCrypto Overall

8.3

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*Each rating criteria is ranked out of 10. Overall ranking is determined by the 5 subjective variables (Utility, Roadmap, Partners, Ecosystem, Staking)

Disclaimer:

None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.