TAP Protocol

The journey continues

Thank you everyone for tuning in once again, our first article received great feedback and we hope it gave you a clear understanding of the ecosystem in construction at a high level.
Now we will dive deeper into Tap Protocol, answer some of your questions and as always strive to maintain transparency, a core principle of our team.

TAP Protocol Introduction

Firstly, to clarify, the $TAP token is currently not in circulation. It was minted by BennyTheDev on 6th August 2023 and has a supply of 21 million tokens. The project is currently going through strategic acceleration, incubation and funding rounds lead by Skry Labs.

So what is TAP?

TAP is a protocol that enhances OrdFi functionality, enabling the secure locking of value on Bitcoin. Similar to the transformative Ethereum DeFi summer, TAP introduces comparable capabilities for Bitcoin, expanding the scope of value locking.

However, TAP transcends being merely a token; it’s a comprehensive ecosystem empowering developers to innovate on the Bitcoin platform. This development marks a significant shift in the cryptocurrency world, breathing new life into the sector. TAP’s unique utilities are set to propel Bitcoin’s functionality and relevance to unprecedented heights.

The progress brought about by TAP is poised to attract superior quality projects to the Bitcoin domain, offering developers a more extensive array of tools. Additionally, TAP will provide governance, voting privileges, grants, and incentives to creators working on PIPE. Together, these projects will synergize to form a robust and influential ecosystem.

The TAP Protocol will evolve through a governance model: holders of the $TRAC token will have the opportunity to vote on innovative features to be integrated into the TAP Protocol.

Utilities and new use cases on Bitcoin

Focus on OrdFi: new ways of tackling DeFi but within Ordinals.
Token Authorities: custom hooks into TAP protocol through a no-knowledge strategy. Enables 3rd parties to issue tokens based on their requirements.

Use-cases:

• Gaming (e.g. converting points to tokens)
• Bridging
• Swapping
• Staking
• Multisend/Airdrops: existing BRC-20 solutions are inconvenient to handle and costly to execute. TAP protocol’s built-in multisend feature allows for cost-effective distributions of tokens.
• Token Trades: built-in feature to allow for peer-2-peer trading of tokens without middlemen. Optionally allows for max. 0.3% fees to be injected by inscription services/marketplaces as convenience-fee.
• TBA: built-in governance feature
• And much more….

Bitmap partnership

The collaboration between TAP and Bitmap, fueled by a strong community vision and a drive to encourage development, heralds an era of exciting new possibilities.

This synergy underscores the necessity of Bitoshi Blockamoto’s involvement with the TAP team, aiming to leverage TAP’s features for his substantial user base of 25,000+.

Bitmap’s extensive user community, coupled with TAP’s innovative features, will create a dynamic environment where developers can introduce not just liquidity pools to Bitmap, but also engaging games with practical applications and much more.

TAP is set to become a pivotal token for Bitmap, and a detailed article exploring this subject is planned for release soon.

TAP collaborates intimately with Bitoshi Blockamoto to integrate beneficial functionalities into the protocol. This partnership aims to empower Metaverse creators, giving them the tools and innovations necessary to remain at the forefront of their field and achieve success.

Conclusion

The TAP protocol stands as the optimal choice for underpinning Ordinal infrastructure assets, including tokens and Bitmaps. This positions TAP as a prime contender for creating effective development frameworks. It offers mechanisms that balance flexibility with organization, ensuring both efficiency and utility.

Socials

Trac Systems Discord: https://discord.gg/trac
TRAC on X: https://x.com/trac_btc
TAP on X: https://x.com/tap_protocol
Pipe Protocol on X: https://x.com/PipeBtc
TAP Protocol Telegram : https://t.me/tap_protocol
Pipe Protocol Telegram: https://t.me/pipe_btc