What is Aptos?

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Aptos logo.
Short answer: Aptos is a Layer 1 blockchain and cryptocurrency developed by Matonee Inc, based in California. The company was founded by two former employees of Meta who were working on the Diem blockchain: CEO Mo Shaikh and CTO Avery Ching.[1]

$350 million raised in funding[edit]

Aptos Labs, the creators of the Aptos blockchain, has raised $350 million in 2022. In March, it raised $200 million at a valuation higher than $1 billion, led by Andreessen Horowitz[2], and in July it raised an additional $150 million, led by FTX and Jump Crypto.[3]

Current status: testnet[edit]

Aptos is built using the Move coding language, originally built for Diem. According to CEO Mo Shaikh, Aptos' goal is to build a safe and scalable blockchain, leveraging new techniques for parallel execution. [4]

As of September 2022, Aptos has launched incentivized testnets to showcase its blockchain.[5] Although originally promised for Q3 2022, it is expected to be released in October 2022.


Aptos has over 70 active projects in development, from wallets, decentralized exchanges, central limit orderbooks, liquid staking, lending, NFT marketplaces, and more.


  1. Munster, Decrypt / Ben (2022-08-08). "What Is Aptos? The 'Solana Killer' Created by Diem Developers". Decrypt. Retrieved 2022-09-22.
  2. Matney, Lucas (2022-03-15). "Ex-Meta employees raise $200M from a16z, Tiger, Multicoin to realize Facebook's crypto dreams". TechCrunch. Retrieved 2022-09-22.
  3. Knight, Oliver (2022-07-25). "Aptos Labs Raises $150M in Funding Round Led by FTX Ventures". www.coindesk.com. Retrieved 2022-09-22.
  4. Aptos (2022-07-15). "The Genesis of Aptos". Aptoslabs. Retrieved 2022-09-22.
  5. Aptos (2022-08-23). "Welcome to Aptos Incentivized Testnet 3". Aptoslabs. Retrieved 2022-09-22.

External links[edit]