New layer 1 crypto project Aptos is giving away over 20 million APT tokens to early adopters of its network worth approximately $154,000,000 at the time of writing.
The Aptos Foundation, the nonprofit organization behind the project, Announced the airdrop via Twitter.
“The Aptos Foundation has provided APT tokens to early network participants. If you are eligible to claim, you will receive an email from firstname.lastname@example.org within the next few hours.
Users who have completed an application for an Aptos incentivized testnet /OR/ minted an APTOS:ZERO testnet NFT are eligible to claim Aptos tokens (the original user who minted the NFT is eligible, not the current owner ).
In total, 20,076,150 APT tokens will be airdropped to 110,235 participants.”
The Aptos network, which has been heralded as a rival to both Ethereum and Solana, uses a programming language originally created for Diem, tech giant Meta’s abandoned crypto project. Aptos focuses on Diem’s original goal of creating a super fast and scalable blockchain.
At the time of writing, Aptos clocks in at 31 transactions per second (TPS), but co-founder Mo Shaikh said that number would continue to grow as more projects were launched.
Shaikh also acknowledged that the launch “could have gone better” and that building a decentralized community from scratch is “difficult.”
The Aptos airdrop comes just a day after the launch, in which the token was backed by base of coinsFTX, Binance and other crypto exchanges.
Since its launch, APT is down 43.7%, trading at $7.70 with a market capitalization of just over $1 billion.
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Featured Image: Shutterstock/DrHitch