Participating token holders voted nearly unanimously to pass the Aptos Foundation’s proposal to shift toward deflationary tokenomics, which is now awaiting execution.
The Aptos community passed a proposal to introduced deflationary tokenomics in a vote that ended on March 1. The now approved change sets a hard cap on the total supply of APT tokens at 2.1 billion, aligning with a broader shift towards performance-driven tokenomics, as The Defiant previously reported.
The proposal aims to enhance the deflationary nature of the APT token and received substantial backing, with 335.2 million APT voting in favor and only 1,500 APT opposing it, according to the Aptos Governance page for the proposal. However, only 39% of voting power participated, just above the 35% that the community requires for the vote to proceed. The proposal is now awaiting execution, per the blockchain’s governance website.
This initiative reflects a strategic pivot by the Aptos Foundation, which focuses on developing the Aptos blockchain, a Layer 1 network optimized for both scalability and security. Prior to this vote, the maximum APT token supply was infinite, but the change seeks to limit future inflation and reward long-term stakeholders by reducing staking rewards and increasing gas fees.
This proposal also includes using transaction fees for token buybacks, evidently also in an attempt to increase value for token holders.
The Aptos Foundation’s decision comes at a time when the APT token has been hitting new lows, most recently on Feb. 23, when it reached $0.79, per CoinGecko data. The token is down over 85% on the year, though it got some relief in recent weeks, up 17% over the past seven days. APT is trading around $0.96 at press time, up about 3.5% in the past 24 hours as the broader crypto market rallies.
This article was generated with the assistance of AI workflows.
Source: https://thedefiant.io/news/tokens/aptos-holders-pass-proposal-to-hard-cap-apt-supply-at-2-1-billion
