Tapswap Delays Token Launch And Airdrop To The Third Quarter
- Tapswap pushed back its much-awaited token launch to the third quarter of 2024.
- The airdrop will also take place at the same time, it said.
- The team said it needed more time to work on its launch strategy.
Tapswap, a popular tap-to-earn game on Telegram, pushed back its much-awaited token launch to the third quarter of 2024, the project announced on Monday.
The airdrop, a type of free cryptocurrency giveaway dropped into people’s wallets, will also take place at the same time, it said.
Tapswap initially scheduled the airdrop for May 30 but delayed it to July 1 due to an influx of bots that aimed to farm airdrop points, according to a previous Bitcoinworld report.
The team said the token generation event has now been postponed because it needed more time to work on its strategy.
Tapswap Says Token Delay Is ‘Profitable’ For Users
“The whole point is that you’ll actually benefit from this,” Tapswap wrote on X.
Important Update!
1 We've got some bad and really good news for you at the same time: our team has decided to move the date for the Shares-to-Token exchange event. You might wonder, what's good about that? Just FUD?
Not exactly. The whole point is that you'll actually…
— tapswap (@tapswapai) July 1, 2024
“The success [we’ve had] comes with some ‘inconveniences.’ This level of attention requires much more detailed work on tokenomics and the right launch strategy. And that means extra time,” it said, adding:
“Know that this is all to ensure that our launch in Q3 is fair and, more importantly, profitable for all of you who stand by us no matter what.”
Tapswap did not provide a specific timeline for the launch of its token, called TAPS, on The Open Network, or TON. It also did not give specific details about the eligibility requirements for the airdrop.
Launched in February, the game rewards users for tapping the screens of their phones or computers.
There are rules and limits on the number of tokens that one can tap per time based on the level they have reached. The team claims that over 50 million people play the game. It says its success has attracted both scammers and tier 1 exchange partners alike.
In a recent Ask-Me-Anything session on X, Tapswap stressed that “a significant portion of all tokens will be allocated to the community.”
It said users will be updated on the effort once the tokenomics – a combination of the words “token” and “economics” used to define the elements that make a cryptocurrency valuable – are finalized.
The project promised to be meticulous about its token allocation for the airdrop. It said it has created a monitoring system to track user behavior, “identifying accounts that deserve to be banned.”
Tapswap is also looking at ways to offer “unscrupulous users the option to voluntarily surrender for a percentage of the drop, ensuring a win/win for all.”
“We are developing clear rules for token distribution to ensure fairness, although these cannot be disclosed beforehand to prevent abuse,” it added.
