經過幾個月的沉默，Aptos通過減少積累獎勵將新的爭議和活力注入生態系統

在APTOS生態系統保持沉默幾個月之後，一個稱為AIP-119的社區建議將新的爭議和活力注入了這一第一層的公共連鎖店。

After months of silence from the Aptos ecosystem, a community proposal called AIP-119 has injected new controversy and vitality into this Layer 1 public chain.

經過幾個月的Aptos生態系統的沉默，一個名為AIP-119的社區建議將新的爭議和活力注入了該第1層的公共連鎖店。

On April 18, Aptos community member moon shiesty initiated the "Phase-by-Phase Reduction of Staking Rewards" proposal "AIP-119", suggesting that the staking reward rate be reduced from the current approximately 7% by 1% per month over the next three months, and the final annualized rate of return be reduced to 3.79%.

4月18日，Aptos社區成員Moon Shiesty發起了“逐階段降低放訂獎勵”提案“ AIP-119”，這表明，在未來三個月內，股票獎勵率將從目前的7％降低1％，最終的年度回報率將減少到3.79％。

The proposal believes that reducing the staking reward rate will contribute to the long-term growth of the Aptos ecosystem, especially promoting more active competition in the DeFi field, and will also help enhance the token economics of APT to support its long-term sustainable development. As the first step in the reform of the Aptos economic model, the proposal will accept community feedback, and if the proposal is passed, a 6-month observation period will be set to evaluate the impact.

該提案認為，降低股票獎勵率將有助於Aptos生態系統的長期增長，尤其是在Defi Field中促進更積極的競爭，還將有助於增強與之支持其長期可持續發展的標誌性經濟學。作為改革Aptos經濟模式的第一步，該提案將接受社區反饋，如果通過該提案，將設定一個為期6個月的觀察期來評估影響。

In the eyes of many observers, this is not only an adjustment in technical governance, but also an attempt to reconstruct the underlying logic of the Aptos economic model.

在許多觀察家的眼中，這不僅是技術治理的調整，而且是重建Aptos經濟模型的基本邏輯的嘗試。

Hidden dangers of high returns and structural inflation

高回報和結構通貨膨脹的隱藏危險

Aptos’ current staking yield ranks among the top in the L1 public chain, but the problems it brings are becoming increasingly prominent. Although the 7% risk-free annualized return has attracted a large number of users to lock APT to participate in staking, it has also caused serious inflationary pressure and inefficient use of funds.

Aptos目前的積分產量位居L1公共連鎖店中的首位，但是它帶來的問題越來越重要。儘管7％無風險的年度申報表吸引了大量用戶鎖定參與積分的機會，但它也引起了嚴重的通貨膨脹壓力和資金效率低下的使用。

The community generally believes that this model is constantly diluting the value of tokens and hindering the flow of ecological funds to more risky and innovative applications. As the initiator of the proposal said, the staking reward plays the role of "central bank interest rate" on the chain, and the "interest rate" at this moment may have deviated from the actual market.

社區通常認為，該模型不斷稀釋令牌的價值，並阻礙了生態資金的流動流向更風險和創新的應用。正如該提案的發起人所說，積分獎勵在鏈條上起著“中央銀行利率”的作用，目前的“利率”可能已經偏離了實際市場。

In the past two years, although Aptos has attracted developers with its ultra-high performance and the security of the Move language, the activity of the ecosystem has never matched it. At the same time, Sui, which is also the "Move twin star", continues to grow stronger, forming a sharp contrast.

在過去的兩年中，儘管Aptos通過其超高的性能和移動語言的安全性吸引了開發人員，但生態系統的活動從未與之匹配。同時，也是“移動雙星”的Sui繼續變得更強壯，形成了鮮明的對比度。

Many community members attribute this to the structural problems of the Aptos token model - a high proportion of tokens are concentrated in the hands of the foundation and core nodes. Combined with the high staking returns set in the early days, the ecosystem funds are overly concentrated on "passive income", which in turn inhibits constructive innovation.

許多社區成員將其歸因於Aptos代幣模型的結構性問題 - 大部分代幣集中在基礎和核心節點手中。結合早期的高積分回報，生態系統資金過於集中在“被動收入”上，這反過來又抑制了建設性的創新。

Three things a new official does when he takes office

新官員上任時要做的三件事

The proposal was made against the backdrop of a series of recent changes in the management and market positioning of Aptos. According to community sources, Aptos founder Mo Shaikh had a legal dispute with early members, and the final result was that Chinese Avery Ching took over as CEO of Aptos Labs (formerly CTO), and Mo Shaikh withdrew from daily management.

該提案是在Aptos管理和市場定位的一系列最新變化的背景下提出的。據社區消息人士稱，Aptos創始人Mo Shaikh與早期成員發生了法律糾紛，最終的結果是，中國艾弗里（Avery Ching）接管了Aptos Labs（以前是CTO）的首席執行官，而Mo Shaikh則從日常管理中撤回。

After he took office, Aptos' strategic narrative also shifted from "scalable L1" to "next-generation global trading engine", and more clearly emphasized performance and trading experience as core competitiveness.

上任後，Aptos的戰略敘事也從“可伸縮L1”轉變為“下一代全球交易引擎”，更清楚地強調了績效和交易經驗作為核心競爭力。

What is more remarkable is that Aptos has re-embraced the Chinese-speaking market: setting up the Chinese community MovemakerCN, hosting multiple hackathons and providing tens of millions of dollars in ecological funding, demonstrating its determination to rebuild community trust and expand the global developer network.

更引人注目的是，Aptos重新構成了講中文的市場：建立中國社區Movemakercn，主持多個黑客馬拉松，並提供了數千萬美元的生態資金，這表明了其決心重建社區信任並擴展全球開發人員網絡。

In terms of technology, Aptos is also constantly promoting performance optimizations such as Zaptos upgrades and Block-STM v2, hoping to attract developers in the new "low-return, high-performance" ecosystem to rebuild prosperity with PMF (product-market fit) driven by real needs as the core.

在技​​術方面，Aptos還不斷促進諸如Zaptos升級和Block-STM V2之類的性能優化，希望吸引新的“低返回，高性能”生態系統中的開發人員，以通過由真實需求作為核心驅動的PMF（產品市場）來重建繁榮。

What does the community think?

社區怎麼看？

Although the proposal of AIP-119 touched the pie of vested interests, the overall feedback from the community did not fall into emotional confrontation. On the contrary, opinions from multiple parties, including Amnis Finance, the largest liquid pledge agreement, showed a more rational review and feedback. Amnis pointed out in a public response that the current proposal direction is reasonable, but the execution pace is too aggressive and may damage the competitiveness of Aptos. They believe that the pledge yield is similar to the interest rate tool in emerging markets. For public chains like Aptos, high returns are the key to attracting capital.

儘管AIP-119的提議觸及了既得利益的餡餅，但社區的總體反饋並沒有陷入情感上的對抗。相反，包括最大的液體承諾協議在內的多個政黨的意見顯示了更合理的審查和反饋。 amnis在公眾回應中指出，當前的提案方向是合理的，但是執行步伐太激進了，可能會損害APTOS的競爭力。他們認為，承諾收益率類似於新興市場中的利率工具。對於像Aptos這樣的公共連鎖店，高回報是吸引資本的關鍵。

If it drops to 3.79%, Aptos will be in the lowest yield tier in the L1 camp, which may cause funds to flow to higher-return options such as Solana or U.S. Treasuries. In addition, opponents worry that a sharp drop in returns will weaken retail investors' motivation to lock positions, increase the market circulation of APT, and thus intensify selling pressure. The DeFi ecosystem may also face the risk of a decline in TVL due to the shrinking of leveraged staking strategies.

如果下降到3.79％，APTO將處於L1營地的最低收益率層，這可能會導致資金流向諸如Solana或美國國債等高回報選擇。此外，反對者擔心回報的急劇下降會削弱零售投資者鎖定位置，增加鄰算市場流通的動機，從而加劇了銷售壓力。由於槓桿作用策略的減少，Defi生態系統也可能面臨TVL下降的風險。

Regarding the verification nodes, opponents pointed out that the reduction in yields will significantly

關於驗證節點，反對者指出，收率的降低將顯著