New layer-1 crypto project Aptos is giving out over 20 million APT tokens to early users of its network worth roughly $154,000,000 at time of writing.
The Aptos Foundation, the non-profit behind the project, announced the airdrop via Twitter.
“The Aptos Foundation has provided early network participants with APT tokens. If you are eligible to claim, you will receive an email from [email protected] in the next few hours.
Users who 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 billed as a rival to both Ethereum and Solana, uses 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 time of writing, Aptos is recording 31 transactions per second (TPS), but co-founder Mo Shaikh said that that number would continue to grow as more projects launched on top of it.
Shaikh also acknowledged that the launch “could have gone better,” and that building a decentralized community from scratch is “tough.”
The Aptos airdrop comes just one day after launch, which saw the token be supported by Coinbase, FTX, Binance and other crypto exchanges.
Since launch, APT is down 43.7%, trading at $7.70 with a market cap of just over $1 billion.