Exclusive Analysis of Aptos Token Economics, Big Unlock Ends June 2024

Initial supply

The main Aptos network goes live on October 12, 2022, with an initial total supply of 1 billion tokens for the main Aptos Token (APT), which will have 8-bit precision as part of the fraction, where the smallest unit is called an octet.

Distribution schedule for the community and the Aptos Foundation

The token pool is designated for ecosystem-related projects such as grants, incentives, and other community development programs. Some of these tokens have been allocated to projects based on the Aptos protocol and will be awarded upon completion of certain milestones. The majority of these tokens (410,217,359.767) are held by the Aptos Foundation and a small portion (100,000,000) are held by Aptos Labs. These tokens are expected to be distributed within ten years:

• Initial support for 125,000,000 APTsEcosystem projects,supplementsand other community development initiatives in the category of present and future communities
• 5,000,000 APTs initially available to support Aptos Foundation initiatives for the Foundation category
• Expected to unlock 1/120th of the remaining community and foundation tokens per month for the next 10 years

Distribution schedule for core contributors and investors

All investors and current core contributors are subject to a four-year lock-in schedule, excluding pledge incentives (if applicable), which will be unlocked after the launch of the main network in accordance with the schedule below:

• No APTs available in the previous 12 months
• 3/48 of such tokens are unlocked in the 13th month after the launch of the main network and every month thereafter until the 18th month.
• Unlock 1/48th of the tokens per month, starting in the 19th month after the launch of the main network, so that all such tokens are unlocked on the fourth anniversary of the launch of the main network

Projected token supply schedule

Today, more than 82% of tokens on the network are pledged across all categories, most of which are currently locked and unreleasable according to the distribution schedule described above.

Unlocking details are as follows

Community:

• Initial allocation: 125,000,000 APT
• Monthly Unlocked Volume: 1/120 of 510,217,359 APT (Total Initial Tokens)
• Unlocked per month: 510,217,359 / 120 = 4,251,811.33 APT

Core Contributors:

• Months 13 through 18: 3/48 of APT 190,000,000
• Beginning of Month 19: 1/48th of 190,000,000 APT
• Monthly Unlocking Volume (13 to 18 months): 190,000,000 x (3 / 48) = 11,875,000 APT
• Monthly Unlocked Volume (starting at 19 months): 190,000,000 x (1 / 48) = 3,958,333.33 APT

Foundation:

• Initial allocation: 5,000,000 APT
• Monthly Unlocking Volume: 1/120 of 165,000,000 APT (Total Initial Tokens)
• Monthly Unlocked Volume: 165,000,000 / 120 = 1,375,000 APT

Investors:

• Months 13 to 18: 134,782,640 3/48 of APT
• Start of month 19: 1/48 of 134,782,640 APT
• Monthly Unlocked Volume (13 to 18 months): 134,782,640 x (3 / 48) = 8,423,915 APT
• Monthly Unlocked Volume (starting at 19 months): 134,782,640 x (1 / 48) = 2,807,971.66 APT

from this
Months 1 to 13 (2022.10 – 2023.11) Monthly unlocking amount: 5,626,811.33
13th to 18th months (2023.12 – 2024.5) Monthly unlocking amount: 25,925,726.33
19th month (2024.5 – 2026.11Monthly unlocking after: 12,393,116.32
48th month (2026.11 – 2032.9Monthly unlocking after: 5,626,811.33