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Tapswap Postpones Token Allocation to Q3

Tapswap, a tap-to-earn app powered by the TON Blockchain, has announced the postponement of its highly anticipated token allocation event originally scheduled for July 1st. The event is now rescheduled for the third quarter of this year. This decision comes as Tapswap aims to enhance its services for its rapidly expanding user base.

Since its launch on February 15, 2024, Tapswap has gained significant popularity, particularly among Nigerians seeking to earn financial rewards by tapping their phone screens. The app has now amassed over 50 million users.

In a series of posts on X (formerly Twitter) on Monday, Tapswap’s management shared both ‘bad and good news’ with its players. The postponement of the token allocation event is explained by the company as part of a strategic effort to engage in discussions with tier-1 exchanges globally. This initiative aims to ensure the game’s integrity and safeguard it from scammers and exploiters within the web3 industry.

“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 benefit from this. Let us explain how,” the management explained.

The statement highlighted the buzz surrounding Tapswap and its potential listing on major exchanges, noting that the project has become a major player in the global market. “Recently, there’s been a lot of buzz around Tapswap, especially about listing on tier-1 exchanges, a massive drop, and more. And it’s no surprise: the project has become one of the major players globally, ranking at the top. This kind of attention attracts not just scammers but also leaders in the web3 industry.”

Tapswap’s team is actively engaged in talks with these exchanges and is thrilled with the support from its community. “So, not all rumours are just rumours. The Tapswap team is actually in active talks with tier-1 exchanges! And they are thrilled with you – our community! Isn’t this what we’ve been tirelessly working towards together?”

The postponement allows the company to focus on refining its tokenomics and launch strategy. “This level of attention requires much more detailed work on tokenomics and the right launch strategy. And that means extra time. But 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,” the statement added.

Despite the delay, Tapswap encouraged its players to remain optimistic and promised more exciting updates in the future. “We really value your support. And we truly listen to your feedback, so don’t forget to share it in the comments. Together, we’ll keep reaching higher and higher levels!”

Tapswap’s token launch, initially scheduled for July 1, has been postponed indefinitely, as reported earlier. John Robbin, the Head of Communications, disclosed on June 20, 2024, that the allocation method is still being deliberated upon, and the necessary processes have yet to be finalized. This delay reflects Tapswap’s careful approach to ensuring a robust and secure token allocation process.

“The token launch was postponed from July 1. The new date will be communicated. We will allocate a significant part of the tokens to the community to retain the tappers. We want you all to be part of the Tapswap community.”

Nigerians of all ages have enthusiastically embraced tapping on their phones, driven by hopes of using accumulated tokens to purchase cars and houses. 

Viral videos depict scenes such as a tricycle (Keke) driver multitasking by tapping on his phone while navigating his vehicle, as well as traders in Northern Nigeria energetically engaging with their screens. These images underscore the widespread adoption and impact of tap-to-earn applications like Tapswap across various sectors of Nigerian society.


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Written by Akinlabi Emmanuel

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