Popular tap-2-earn app, Tapswap, powered by TON Blockchain is set for its TGE (Token Generation Event) and listing around the second half of January. This announcement, reported to have been announced in a Thursday’s X space conversation created by Tapswap, is coming following a series of end-waits by users of the telegram tap-gaming platform.
The app, which required users to repeatedly tap the icon in the center of its bot screen to mine coins gained momentum among Nigerians tapping on their phone screens in pursuit of financial earnings. This has seen the platform gather over 50 million users since it launched on February 15, 2024.
Following its X Space conversation, heated reactions have hung around the veracity and possibility of the listing happening in January. The lack of trust by users seems to have been borne from Tapswap’s recent TGE postponement and its failure to provide a specific date.
A user, @KuzaWasOnTrips, said, “Just plaster my $1 bikonu.” Another, @HommiesDrey: “Locked-in May Tapswap cook in January.” Also, @Zaheerly said, “Joke of the year is here.” @manu_fanbo1 raised the question “When does mining end?”. While @Freedom12233 expressed that “Shior No destination Tapswap project na anywhere belle face.”
Nigerians, including young and old, have been obsessively tapping on their phones, with some asserting to be waiting for the tokens to be allocated to buy cars and houses of their choice from the many taps they have accumulated.
Tapswap and its trend of failed promises
Concerning its token distribution and listing date, the App has witnessed a couple of announcements that have since failed to materialize. The listing date has also been a topic of much anticipation and speculation within the crypto community.
Around June, Tapswap announced that its token allocation to users set for July 1 has been indefinitely postponed. Then, it explained that its representatives are seeking the best ways to reward the tap-to-earn gamers. The App added that the method of token allocation has not yet been ascertained, stressing that the processes cannot be communicated before the allocation.
“The token launch was postponed until July 1. The new date will be communicated. We will allocate a significant part of the tokens to the community to retain the tappers. We want you all to be part of the tapswap community. We need a token airdrop to be a win-win for all of us. We have started communicating with many exchanges and platforms,” Tapswap Head of Communications, John Robbin said in June.
Also in a statement on its X post in July, Tapswap said its team is currently engaged in “active talks” with tier-1 exchanges, a significant development for the platform. The statement said that the newfound level of attention has presented challenges. It acknowledged the need for “much more detailed work on tokenomics and the right launch strategy” in light of potential exchange listings.
The statement also notes that to ensure a “fair and profitable” launch for all users, the Tapswap team has decided to postpone the Shares-to-Token event until sometime in Q3 – with no specific timeline for the launch of its token, called TAPS, on The Open Network, or TON.
During a recent Ask-Me-Anything session on X, the team revealed details about their upcoming token launch, emphasizing a generous allocation for the community. They didn’t disclose specific numbers, but assured users that “a significant portion of all tokens” will be set aside for them.
However, specifics regarding the exact distribution plan remain under wraps. Tapswap explained they’re still finalizing the tokenomics – the intricate balance of factors that influence a cryptocurrency’s value. Once these details are ironed out, they promise to update the community on how they plan to distribute the tokens.
Later on, analysts also projected that TapSwap will be listed before October 30, 2024, with the airdrop and listing events happening around the same time. The app then introduced a new plan of launch in the third quarter of 2024.
The delay in the project launch resulted in mixed responses from the traders. Some investors were disappointed with the extension of the launch date, while some appreciate that it is good to take some time to make an impactful start. However, Tapswap said the major aim of its project is to pleasantly surprise its users and investors with top-notch features.
Also Read: Tapswap delays token exchange again, hints at tier-1 listings.
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