The long-awaited Aptos blockchain token, APT, has finally made its market debut with backing from major exchanges like Coinbase, FTX, Huobi, and Binance.
Following the launch of the Aptos mainnet, a number of cryptocurrency exchanges have announced that they will list the native Aptos coin, APT, for trading. Top exchanges like Binance, Coinbase, FTX, Huobi, and OKX announced their support for Aptos (APT).
However, it was disclosed in an exclusive tweet by crypto journalist Jihan Wu that Aptos requested major exchanges not list perpetual contracts for their token within two weeks of listing.
APT will be traded on the spot market for BTC, USDT, and BUSD pairs starting on October 19th, according to an early announcement made by Binance. The token will also begin trading on perpetual contracts on that date. Aptos is urging Binance to change its position.
FTX has not yet made the introduction of perpetual contracts official as the Aptos core lead investor. Users of FTX have started depositing APT on the trading site in anticipation of trading, which is expected to start at 01:00 UTC tomorrow.
Notwithstanding, OKX has followed suit and have announced that APTUSDT perpetual contracts will officially launch on the web, APP, and API at 09:20 (HKT) on October 19 with a leverage of 0.01 to 75x. Binance appears to be inspiring other exchanges to copy its model and list perpetual contracts.
Aptos is a Layer 1 proof-of-stake (PoS) blockchain that develops decentralized applications (dApps) using the Move programming language and virtual machine (MoveVM). For network fees, validator staking, and governance, APT is the native token. Former Meta employees developed the blockchain.
Aptos allured some giant VCs like Andreessen Horowitz (a16z) during its May strategic funding round, where it raised $200 million. Aptos also raised a $150 million Series A investment earlier this summer, which was led by Sam Bankman-Fried’s FTX.
The native coin of Aptos is called APT, and it will be used for network fees. Although the APT tokenomics are unknown at this time; it is believed to have a fixed total supply of 1 billion.