Coinbase, Binance and FTX All Announce Support for New ‘Solana Killer’ Altcoin Project

Three of the biggest crypto exchanges in the world are supporting the launch of a highly anticipated digital asset project.

Coinbase, FTX, Binance and other crypto exchanges have announced support for Aptos (APT), a new layer 1 blockchain headed by developers co-founders Mo Shaikh and Avery Ching from Aptos Labs.

The Aptos chain uses programming language originally created for Diem, tech giant Meta’s old crypto project that was ultimately abandoned. Aptos focuses on Diem’s original goal of creating a super fast and scalable blockchain.

While Aptos originally aimed to power up to 160,000 transactions per second (TPS) on its network, rivaling Solana’s speed, the chain is currently recording 4 TPS at time of writing.

According to Aptos, the blockchain on day one is working “as expected.”

Day one update:
Today has been exciting. Thank you for all the support!

The Aptos network has been performing as expected and will see increased activity as ecosystem projects onboard and get going.

— Aptos (@AptosLabs) October 18, 2022

Coinbase said that trading for APT/USD will be rolled out on the platform in phases, once sufficient supply of the altcoin has been established.

The day before launch, Aptos released the tokenomics of the project, revealing that at time of mainnet launch on October 12th, there were 1 billion tokens in circulation.

Of the existing APT, 51% were allocated to the community, 19% to the core contributors, 16.5% to the Aptos Foundation and 13.48% to the seed investors. APT held by private investors are subject to a one year lockup, and the entire circulating supply will be released over the next decade.

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