The TAP Protocol token was launched on May 29. Its purchase has already started, and the process is expected to run till June 5.
CoinList has announced TAP Protocol’s 12th token launch in 2024. TAP protocol is a Layer 1 solution that provides a flexible and accessible solution for Bitcoin development.
TAP Protocol Token Launch: Key Details and Participation
The TAP Protocol token was launched on May 29. Its purchase has already started, and the process is expected to run till June 5. The price is set at $3.57, with a network value of $75,000,000. The token has a total supply of 21,000,000 TAP, with 7.5% of this amount, valued at 1,575,000 TAP, available for the launch.
In addition, only 10% of the purchased tokens will be available after the token generation event (TGE). The remaining 90% will then be released gradually over the next 12 months. Also, investors and traders can anticipate the listing on crypto exchanges around June 28.
The team behind the TAP Protocol set an initial purchase limit for the TAP tokens, with the minimum purchase being $100 and the maximum $2500. Setting a maximum amount helps prevent a single buyer from acquiring much of it during the initial purchase period. This helps to avoid market manipulation and ensures a fair distribution of the tokens among participants.
To participate in the TAP Protocol token launch, users must visit the launch site via Google Chrome and install the Xverse Extension on a desktop computer. The team behind the launch will only distribute tokens to the linked external Xverse wallet.
TAP Protocol: Overcoming Bitcoin Ordinals’ Limitations
The TAP protocol addresses the limitations that the Bitcoin Ordinals have not been able to meet up with. Despite the BTC ordinals enabling the support of functionalities similar to Ethereum, the capacity has also been limited in terms of flexibility for computation, which has constrained the scope of innovation and development on the BTC network.
This development is a game changer for the BTC network, making it easier and safer for developers to build on Bitcoin while overcoming traditional BTC transactions’ limitations.
Tap Protocol is used by over 50 projects with more than 70,000 individual wallets. The solution provides a secure environment for transactions and development on the BTC blockchain. It has developed the first native smart contract design on Bitcoin, Promises, which helps create innovative applications.
It also enhances the BTC network by offering features such as fractionalizing ordinal art, token swaps, liquidity pools, borrowing, lending, and staking capabilities.
The protocol has tackled some limitations of the BTC network, making it easier for developers and users to create innovative ideas and driving the adoption of BTC. Moreover, the protocol is simpler to use compared with BRC20, and the simplicity of usage complements its utility, as it can be used for many functions like airdrops, the creation of non-fungible tokens, and much more at a low cost. It also supports features such as OrdFi and DeFi, which have further propelled the adoption of Bitcoin among developers.
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