Tap Protocol (TAP)

Tap Protocol is an advanced multi-asset metaprotocol for Bitcoin Ordinals that allows for more complex financial transactions to be conducted directly on the Bitcoin blockchain, taking advantage of the Ordinals ecosystem. It is designed to be more flexible and user-friendly than other token metaprotocols, allowing features such as token staking, swapping, and liquidity pools (among others) without the need for secondary layers or complex mechanisms.

Tap Protocol provides a complex ecosystem for Bitcoin financial transactions, often referred to as OrdFi, by providing a set of functionalities designed to make the Bitcoin experience more convenient:

• Swapping and staking: In the TAP ecosystem, users can easily swap tokens and stake them to strengthen the network and earn rewards, combining liquidity with incentives.
• Liquidity pools: TAP supports the creation of token pools that users can join, enabling decentralized trading and earning rewards.
• Token authentication: Provides a framework for authenticating tokens within the platform, potentially for use as in-game currency or items.
• TAP Art: Allows for linking Ordinals to tokens that live on the TAP protocol, allowing for the fractionalization of ownership of valuable artwork. By extending the TAP protocol, the provenance of both the tokens and their ownership will be preserved.
• Multiple sending: Users can send multiple transactions simultaneously, simplifying the process of distributing tokens to different recipients. Distributing tokens within Ordinals with TAP provides a simple and cost-effective solution.
• Multi-active protocol: Finally, TAP acts as a multi-asset protocol, which means it can work with different types of assets outside of a single standard, expanding the scope of transactions and interactions on the Bitcoin blockchain.

The $TAP token is not currently available on the market but will be soon. The token will be used to reduce fees in the protocol market, pay for developer tools and some interactions between developers and users, reduce fees for intermediate payments, and many other utilities on the protocol (Tokenomics will be added as soon as it becomes available).

$TAP token’s total supply is 21,000,000 tokens.

Tap Protocol crypto project’s Airdrop strategy holds on rewarding hodlers of $TRAC tokens and project supporters. They will be rewarded with early $TAP allocations.

The first snapshot of $TRAC holding was done on February 28, 2024. The next one was done on April 30, 2024. The allocations were divided equally between these two snapshots. People could get their tokens on the $TAP listing date (TBA).

On the 2nd of May, Trac announced that the $TAP token will be one of the next token launches on Coinlist.

Considering the upcoming $TAP token sale on Coinlist, CoinLaunch decided to analyze the entire Tap Protocol and investment opportunities the TAP crypto project provides. 

✅ Tap Protocol’s pros:

• Great solution for Bitcoin Ordinals ecosystem;
• Token launch on Coinlist;
• Decent SMM coverage;
• Team is active in public AMA sessions;
• Good PR performance;
• Solid Growth Marketing;
• Top tier Backers;
• Team has decent experience.

📛 Tap Protocol’s cons:

• No transparency on token vesting; 
• CEO (BennyTheDev) is anonymous;
• Has no public Smart Contract Audits;
• Weak Influencer Marketing performance;
• Below-the-average Search Engine Optimization;
• Poor Marketing Infrastructure.