On Monday the price of TAPS changed because Tapswap started its airdrop and token generation event. The token opened for trading at $0.07058 before reaching a small gain with $34 million market cap standing below well-established tap-to-earn leaders like Hamster Kombat and Notcoin.
The Tapswap development group published a statement on X explaining that 55% of tokens would go to investors. The community needs 40%, community rewards require 20%, treasury receives 20%, and development gets 10%. A token lockup period spans 12 to 36 months. The token distribution method seeks to protect our value and strengthen our business plans for the future.
https://twitter.com/tapswapai/status/1891457414450323762
Tapswap’s Token Accessibility Challenges
While Tapswap created an extensive plan their token prices still varied because users lacked access to many trading platforms. The TAPS token exists right now only on the Bitget and STON.fi platforms at the TON blockchain. The inability to trade TAPS on leading exchanges Binance and Coinbase restricts its market expansion because these platforms give tokens worldwide presence.
After the company selected BNB Chain as its launch platform Telegram required all gaming platforms to use its own TON blockchain instead. The decision to move to TON blockchain affected Tapswap’s market visibility and made its price stability more difficult.
The platform wants to build a leading gaming destination on Telegram with two game options that will help people earn TAPS tokens through gameplay interactions. The project plans to attract Telegram’s active 10 million users to play both games by starting with the current tap-to-earn gameplay.
However, Tapswap faces significant competition. Both Hamster Kombat and Notcoin suffered total losses exceeding 80% after their token giveaways took place though they managed to gather millions of users. When Hamster Kombat hit 300 million users prior to its token failure many investors decreased their trust. Many other projects offering “to-earn” features also lost value after joining the market such as StepN’s move-to-earn and Axie Infinity’s play-to-earn platforms.
Tapswap kicked off its airdrop process exactly before the Pi Network initiated its own mainnet operation which also uses a tap-to-earn principle. Pi offers its users paid mining jobs through its mobile app and pushes Tapswap’s efforts to build a Telegram community base.
Tapswap needs to achieve exchange listings plus win over users while launching their expected skill-based game to grow as a business. The platform must handle its present challenges effectively if it wants to succeed in the competitive “to-earn” market in the future.
