Mac 🐺

Mac 🐺

15-10-2022

06:34

I gave u $SOL at $0.6 I gave you $MATIC at $0.003 I gave you $STEPN before it did x10 I gave you a coke and ass picture before I snorted it. This time I will give you a new L1 that I believe you should keep an eye on • Let’s look at #Aptos $APT /THREAD (1/55)

Before we start I want to disclose that I'm NOT invested or paid to do this thread. This is my first Tweet of my research series on new upcoming narratives that I think will provide money earning opportunities short term.

Roadmap: Aptos mainnet and token release is set to happen before the end of this year. With rumors before the middle of November.

This thread will cover: 1) Technicals 2) Redflags 3) Tokenomics and potential ways we can earn money including detailed action plan 4) Ecosystem

1) Technicals Aptos is a Layer 1 blockchain built with MOVE programming language which is based on Rust. As we all know $ETH is constrained by the scalability trilemma: a tradeoff between decentralization, scalability & security.

Another thing worth mentioning is that $ETH can’t perform parallel processing and achieve much higher scaling without sharding.

Parallel processing makes higher TPS attainable without 1) relying on high-performance computing 2) mathematically driven solutions like zero-knowledge proofs Sequential processing means that a blockchain is processing one transaction after the other in a logical order.

This occurs, for example, when user A sends tokens to B and B sends them to C. In other words, it would take a much longer time for each transaction to be verified via thousands of nodes. Moreover, regardless of being L1 or L2, an EVM can only process in sequential order.

Arbitrum, Optimism, ZK-Sync and Starkware all have inherited this problem. Parallel processing, on the other hand, consists of user A sending different tokens to B and C simultaneously.

Blockchains can process these transactions in parallel because they have no conflicts with each other. This makes higher TPS attainable for a blockchain without relying on high performance computing or mathematically driven solutions like zero-knowledge.

Solana is an example of a parallel processing blockchain. Although it faces downtime, Solana's transmission consensus is a breakthrough in L1 with the highest possible TPS. TPS basically means how fast a network can process transactions.

Since Aptos is a Layer 1, it will compete with $ETH, $SOL, $AVAX, etc. As mentioned, Aptos aims at solving $SOL's frequent downtimes and $ETH's constraints.

In other words, they’re focusing on scalability & boost to have 160K transactions/sec using its parallel execution engine (Block-STM), which results in low transaction costs for users.

For context, most blockchains either execute smart contracts sequentially or require a massive parallel workload for improved performance, which requires a lot of power. Aptos differs from other blockchains because a single failed transaction will not hold up the entire chain.

Instead, all transactions are processed simultaneously and validated afterwards. The ones that failed are aborted and re-executed, thanks to their STM (software transactional memory) libraries which detect and manage conflicts.

As a result, the combination of these technologies streamlines the entire network’s throughput capacity, which has been a major bottleneck for other layer-1 blockchains.

Few L1 blockchains have attracted as much interest ahead of the mainnet release as Aptos. Just 7 months after development was announced, it already had over 20,000 validator nodes on the testnet – 10 times more than Solana has on its mainnet.

If you want to deep dive into MOVE, I recommend you to check out this thread: by @tracecrypto1 To get all the details, you can read the whitepaper in full here: Okay, Mac. That’s great. But we already got $ETH.

Why is Aptos one of the new narratives? Just look back at $SOL, $AVAX, $FTM... history does not repeat itself but it rhymes The Aptos blockchain has been developed over the past three years by over 350+ developers across the globe.

As the OG of programmable blockchains, Ethereum has remained popular with blockchain users and developers. However, despite its leading status in dApp and NFT programs, it doesn’t score high because of slow and expensive transactions.

Every time you trade crypto or purchase an NFT on OpenSea, Ethereum adds your trade to a long waiting list, then processes them serially. Frequent network congestion makes purchasing a virtual land or a cute Pudgy penguin a bit of a waiting game.

On Aptos on the other hand all transactions are processed simultaneously and validated afterwards which makes the user experience super fast. Although Ethereum is moving to a proof-of-stake blockchain, lower energy consumption doesn’t accelerate transaction speed.

When new popular NFTs are launched, the influx of users will likely clog the network again. This also opens up for new potential ponzies to be created and played IF the team delivers the tech. But what about Solana?

Solana can hit highs of 50,000–65,000 transactions per second (TPS), which easily exceeds Ethereum by a mile. But although Solana is faster, its impressive speed is a trade-off between performance and reliability.

Solana has a single leader node to handle the input and output of each group of nodes. So when Solana is close to breaking, each group’s leader nodes are the first to crush. This has led to 4 blackouts of Solana this year.

Aptos also runs on parallel execution, but it tries to balance performance and reliability with its new execution model. At each verification round, Aptos requires all non-leader nodes to sync extra data should the current leader fail and other nodes have to take over.

Therefore, when the leader nodes fail, Aptos turns less affected than Solana. In addition to reliable parallel execution methods, Aptos adds an extra layer of security to your digital asset using its programming language Move. In Move, assets are handled separately on-chain.

Once generated, your asset cannot be copied or dropped, which makes it invulnerable to common attacks on Ethereum, such as re-entrancy. So summarized :

2) Red flags • Much higher valuation than similar L1's at launch • I see people with literally no idea what the advantage of Aptos is shill it aka repeat of DOT days, launchpads etc.

• Aptos is founded by the former @Meta employees, @moshaikhs & @AveryChing after Meta’s previous project Diem (Libra) failed. • There also seems to be some internal issues:

• Founders from failed projects on SOL/AVAX/ETH are going over to $APT only to catch the hype. Watch out for these projects • Another redflag is that it is VC heavy with an absurd amount of funding behind, which I will get into now.

3) Funding Aptos has received funding and partnerships from VCs and some of the biggest crypto firms.

Round one (seed round) raised $200M led by Andreessen Horowitz @q_andreesenhor alongside a total of 15 investors participating including Coinbase, FTX ventures/Tiger global, etc.

Their Series A funding raised $150M with 11 investors led by FTX ventures and Jump crypto alongside other 11 investors including ParaFi and OAK HC

Aptos has now raised $350M so far this year. For comparison, Solana raised (only) $25M before launch - something I don’t like. Binance Labs, the venture arm of Binance invested in Aptos with a follow-up investment done a few weeks back.

It is the only project Binance Labs have double dipped on meaning invested two times. Aptos is now valued at $3B and is likely to launch at $6B+ which is absurd.

Aptos Tokenomics are not public yet but let’s go over a few potential scenarios of how they might look and make an action plan.

• Tokenomics scenario 1: All investors are locked on launch. Marketmaker is the only one having tokens together with the community airdrops and incentives.

I have mentioned before in my previous guides how important it is to determine if tokenomics are good for buying on the market or not.

If Aptos locks all investors and launches going sideways without pumping on listing I could see a more sustainable midterm upside which we could catch.

Again let me remind all of you how we don’t want a newly listed chart to look like.

We don't want to be buying anything that pumps straight after listing! This is a technique used by market makers to generate the most amount of short term liquidity aka (buyers) to distribute (sell) the most amount of tokens.

Now I don’t have the information of the market maker of Aptos but it will likely be several including Alameda - which is known for being predatory only trying to milk the most amount of money out of retail.

• Tokenomics scenario 2: APTOS ends up pumping on listing OR investors will receive vested tokens from listing - it will be an easy short close to 0 similar to $DYDX

4) Ecosystem The latest update of the $Aptos ecosystem below:

Even before launch, there are already 100+ dApps in the Aptos ecosystem, from DEX exchanges like Liquidswap to stablecoins, lending protocols, and liquid staking.

Before we jump into this part of the thread I just want to mention how to identify projects you want to stay away from:

• Low circulating supply/float on listing and high FDV (only buy these short term) • Project founders ran failed projects on other L1s such as SOL/AVAX and started building on APT. Majority of these are just trying to milk the hype out of money. Avoid like a plague.

• IDOs (we learned from $DOT days) • Projects with a ton of VCs involved.

Projects that you want to look for: • Projects that offer incentives for testers/early community members - in general projects that care about their community.

• Tech rich projects. Aptos tech offers possibilities of developing new types of projects that weren’t possible on EVM. Look out for these. • Projects where VCs locked and public has community auctions/raises etc

As the DeFi industry on Aptos is evolving very rapidly, I will to wait a few weeks before talking about individual projects here.

Many high quality projects will offer community incentives for active community members/testers - it's a good idea to play around with the protocols before launch for potential airdrops. I will keep update this thread in the next weeks including adding people to follow.

To sum this thread up I think it will all boil down to execution. If $APT launches and the token will be doing poorly price and marketing wise then the whole ecosystem will be struggling with growth. Time will tell, I will keep you guys updated on opportunities I see.

That’s it! More in depth research threads on potential narratives that can print money in the near future are coming. 1) Follow @macnbtc to earn millions and a see an occasional coke/ass-pic once a year 2) Join my Telegram:



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