Tapswap delays token exchange again, hints at tier-1 listings

Popular tap-to-earn game on Telegram, Tapswap, has again announced rescheduling their highly anticipated Shares-to-Token exchange event to Q3 2024. The announcement comes amid heightened interest in Tapswap, with the project reportedly attracting attention from major cryptocurrency exchanges.

Powered by the TON Blockchain, 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 Decrypt report.

According to a statement shared on X yesterday, the Tapswap team is currently engaged in “active talks” with tier-1 exchanges, a significant development for the platform.

The statement says 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.

While details about the nature of the delay or the “massive drop” previously mentioned by Tapswap remain unclear, the team emphasises the long-term benefits of this postponement.

“The whole point is that you’ll actually benefit from this,” Tapswap wrote on X. “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.

Read also: TapSwap: Here is all you need to know about the frenzied tap-to-earn game

However, the statement did not give specific details about the eligibility requirements for the airdrop.

Launched in February, the game rewards users for continuously tapping on Telegram. There are rules and limits on the number of tokens one can tap per time based on the level they have reached.

In a screenshot by a user, over 60 million people play the game, but only about 18 million are daily users.

Tapswap has been making promises

During a recent Ask-Me-Anything session on X, the team revealed details about their upcoming token launch, emphasising 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 finalising 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.

In that session, Tapswap noted that it is taking a strict approach to its upcoming airdrop, emphasising meticulous token allocation. In that light, the team say they’ve implemented a system to monitor user behaviour, potentially identifying and removing those who violate platform rules.