The Tap Coin (TTT), a blockchain based utility token that allows gamers to convert and transfer their in-game virtual currencies from one game to the next. The Tap Coin utilizes the Tap Platform and is used as the on-chain token when users interact with the Tap Platform.
Since its inception in 2017 the Tap Coin has grown and been held by in thousands of wallets and currently allows integration with Unity 3D and unreal engine. Additionally, users are able to convert their in-game Steam Achievements to Tap coins, and earn Tap Coins from Showdown tournaments.
This token report is to cover Tap Coins token economy over the last 2 years and to showcase some changes and where minor details for the future.
*It is important to note that these numbers are not exact as the calculated numbers may be delayed*
Total/Maximum Supply: 1.5B TTT
Platform Reserve system : 542M+
TTT earned (drip), airdropped, converted : 198M+/-
Public Market (IDEX/Etherdelta): 35M+/-
Total Circulating Supply: 248M
Total Circulating Supply % : 16%
Total wallet addresses: 4200+
Throughout the last couple years, The Tap project has focused on ensuring that gamers have ample opportunity to be exposed to the Tap Coin, and this will continue going into the future. It is important that we bridge the gap from core blockchain enthusiasts to mainstream gamers with little to no knowledge of blockchain or cryptocurrencies.
With that we have made the onboarding experience much more user friendly, opened up the marketplace to allow newusers to see the platform prior to sign up, and have been experimenting with a streamed line sign up to Showdown,
one without on-chain requirements; All ushering the new era of Proof of Mastery.
Proof of Mastery
Proof of Mastery is the new improvement when it comes to consensus algorithm created by the Tap Project. It is designed for gaming and block-chain specifically in mind. We realized that the traditional proof of work and proof of stake were not quite designed for blockchain gaming space like we envisioned, and so we thought we would create something more tailored to gamers and blockchain, so we did!
Currently, the platform was using a drip bonus method that rewarded platform users with a Tap wallet that held a certain amount of TTT in their wallets monthly.
With the introductory of Proof of Mastery, users are required to interact with the platform, converting from in game digital currency to TTT, completing steam challenges, entering and playing in tournaments, in order to gain experience points. These experience points help users level up towards achieving max mastery. Those who have reached max mastery are then eligible to vault their tokens which enable them to receive hourly rewards for groups of conversions on the platform. This ensures ultimate use of the Platform and the Tapcoin.
The goal is to usher a smooth transition from POS to Proof of Mastery. With that being said, Proof of Mastery will make its debut at the launch of our XP system, seeing the old drip bonus requirements dissolved once the circulating supply reaches 20%. Why 20%? This will provide users who hold the coin or who currently receive drip bonus an opportunity to track the progress and prepare for drip bonus changes.
These next changes bring the platform to a place that is sustainable, user friendly, and useful and we can't wait for the advancements! Stay tuned for more!
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