Nov 3, 2022
What Is Aptos and why this new Layer 1 Blockchain Is a VC Darling
What Is Aptos?
Aptos is a Layer 1 blockchain that uses the Move programming language. The cryptocurrency promises users increased scalability, reliability, security, and usability.
The Aptos genesis occurred on October 12, 2022, with Aptos blockchain’s mainnet, “Aptos Autumn,” launched on October 17, 2022. The blockchain has raised millions of dollars from investors so far. Aptos is a Layer 1 blockchain built with a Rust-based programming language called Move. Its key features include a parallel execution engine, high-level security features, and low transaction costs.
The Aptos blockchain is generating all this hype because of its intriguing past. The blockchain is based on the Diem blockchain initiative (from Meta) that was recently abandoned. Created by Diem developers, the Aptos crypto uses the programming language initially created for Diem. It focuses on Diem’s original goal of creating a scalable, fast blockchain. In addition, it hopes to offer additional features that will make the crypto more accessible to average users.
Who Is Aptos Labs?
Aptos Labs is the team behind the Aptos project. They currently lead a diverse team of developers, engineers, and strategists headed by co-founders Mo Shaikh and Avery Ching.
Shaikh and Ching met when they worked together on the Diem blockchain project at Meta. Shaikh specializes in scaling products and has experience in the private equity and venture capital markets. Meanwhile, Ching was one of the principal software engineers at Meta and has led many exciting and innovative development projects. When Meta chose to discontinue the Diem project, Shaikh and Ching decided to join together to create Aptos Labs.
Aptos Labs’ motto is “Building a Layer 1 for everyone.” The company is dedicated to creating the safest, most-reliable network possible. Though they’ve been around only a short time, their mission has already gained a lot of support. In two financing rounds, Aptos Labs has raised over $350 million in funding, launched its developer testnet, and successfully handled millions of transactions and thousands of nodes. Aptos native token $APT ranks as 58. position by market cap.
Aptos Mainnet
There are just a few projects live at the mainnet, as Aptos is relatively new. It's the ideal moment to start our airdrop hunting journey. Let us try to collect some juicy bounties.
The first project I would like to show you is a well-known project on Binance. Pancakeswap is the No1 Defi project on Binance with a TVL of $4.38b.
As it's new on Aptos, it's already ranking at position one, with a relatively small TVL of $62.58m.
More interesting is the fact that no native $Cake token exists yet. As Farms and Pools will launch anytime soon, some native tokens will be necessary.
Early pool distributors will likely receive an airdrop. To participate, I recommend you add at least 1 $APT + $10 USDC to Pancakes LP. It would be best if you kept your LP for a couple of days to not miss your airdrop chance.
Good Luck with your Aptos Airdrop chance on Pancake Swap.
