Aptos (APT)

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Historical price evolution of Aptos

Daily historical data. Updated automatically.

Aptos emerged as a direct consequence of the regulatory collapse of Meta's Diem project in December 2021. Following this failure, Mo Shaikh, who had held the position of head of strategic partnerships at Novi, and Avery Ching, former principal engineer of the Diem blockchain, founded Aptos Labs in Palo Alto, California. The co-founders leveraged Diem's open source code to build an independent public blockchain, thereby salvaging the technical work developed during Meta's project.

Fundraising was immediate and massive. In March 2022, Aptos Labs closed a seed round of $200 million led by Andreessen Horowitz (a16z), Multicoin Capital and Tiger Global. Just four months later, in July 2022, it completed a second round of $150 million led by FTX Ventures and Jump Crypto, with participation from Apollo, Franklin Templeton and Temasek. With these two rounds, the company had raised approximately $350 million before launching its mainnet. It is worth noting that FTX Ventures, one of the main investors, would collapse months after the closing of this round.

On 12th October 2022, the genesis of the Aptos network took place, known as "Aptos Autumn", and on 17th October the official mainnet launch occurred with an initial supply of 1 billion APT tokens. However, the launch generated strong controversy in the crypto community due to the lack of transparency in token distribution: whilst only 13.48% was allocated to investors, more than 51% remained under direct control of the foundation and founding team. In October 2022, Aptos also signed a collaboration agreement with Google Cloud, which acts as both infrastructure provider and network validator.

The most recent developments include strategic moves and leadership changes. In October 2024, Aptos Labs acquired HashPalette Inc., the developer company of Palette Chain, as part of its expansion strategy in the Japanese blockchain market. On 19th December 2024, Mo Shaikh resigned as CEO and co-founder to "start a new chapter", being succeeded by his partner Avery Ching, who moved from CTO to assume executive leadership. For 2025, Aptos Labs participates in the second phase of the Hong Kong Monetary Authority's (HKMA) e-HKD pilot programme, alongside Boston Consulting Group and Hang Seng Bank, to explore central bank digital currencies (CBDCs) and tokenised deposits.

Aptos operates as a Layer 1 blockchain through the AptosBFT consensus mechanism, which combines Proof-of-Stake with Byzantine Fault Tolerance to validate transactions and secure the network. Its main technical innovation lies in the Block-STM parallel execution engine, which processes multiple transactions simultaneously rather than sequentially, subsequently validating the results to detect conflicts. This architecture enables up to 160,000 transactions per second in testing environments, though in production the network processed approximately 50 TPS in 2022, a figure that continues to grow. Smart contracts are developed in Move, a programming language originally created for Meta's Diem project, designed specifically to prevent common security vulnerabilities such as reentrancy attacks.

The APT token serves three functions within the ecosystem: serving as fuel for transaction fee payments (under $0.01), acting as a staking mechanism for validators who must lock a minimum of 1 million APT, and granting governance rights over the protocol. Transaction fees are burnt completely, generating deflationary pressure on the total supply. The staking system offers a maximum reward rate of 7% annually, which reduces progressively by 1.5% each year until stabilising at 3.25% as the permanent rate.

Data verified against external sources. Some values may have changed since the last update.