Trac Systems’ Update for June, 2024
To all community members of Trac Systems,
The past few weeks have been filled with a lot of exciting events for the TTP protocol. We are excited to have the community updated on several activities that went on these past weeks.
Here are the details:
Partnership with ICP Announcement
We are glad to announce that a strategic partnership was struck with ICP on June 3rd. This will enable a bridge between Ethereum and TAP protocol, advancing the Bitcoin L1 innovation into the larger Blockchain ecosystem at large.
This partnership enables Bitcoin to interact with Ethereum’s robust DeFi ecosystem, so users can either manage their TAP Protocol assets directly on Ethereum or utilize their Ethereum assets on TAP and benefit from the protocol’s unique OrdFi features. More information can be obtained here.
TAP Reader Testnet Release
In other news, the TAP reader Testnet version was released in the TRAC Github repository on June 6 and went live on the 10th of June. The TAP reader Testnet mainly provides decentralized access to indexed TAP Protocol data.
Developers seeking to build or are already building on TAP protocol are encouraged to check it out.
AMA Session Held in the Past 2 Weeks
On June 12 2024, an AMA session was held on X. It was aimed at explaining some of the predominant questions arising from the community due to the past events; like the $TAP token presale on coinlist, the ecosystem validator pool, etc. It was also slated to provide details of future events coming up for TTP protocol.
You can listen to the recorded version of the session or read the summary on our Medium page.
The Ecosystem Validator Pool (EVP)
On 17th June, the ecosystem validator pool was reopened to give opportunity to more users who missed out on the first opening. The pool was to be left open for 72 hours but the maximum capacity of $TRAC tokens to be contributed was exceeded in less than 72 hours.
Participants of the pool stand a chance to earn bonuses from existing projects on TAP protocol and even from subsequent projects that will be built on TAP. To know more about the reward plan and the projects involved please check out our Medium post on it.
UPCOMING EVENTS AND UPDATE
Developer Office Hours
The Dev Office Hours with the TAP development team will take place on June 26th in our Discord Channel. There will be three teams presenting their Trac Ecosystem projects and the requirements for a validator equipment will be discussed. We look forward to seeing you there. Click here to set a reminder
The Validator License Program
We previously announced the Trac validator license program launch for June 30th. However, in our commitment to ensuring a smooth and fair process for the community, we need a bit more time to finalize everything. The new date for the Trac validator license presale is July 7th. We understand this is a shift in the timeline. To ensure you have all the information you need, a separate article detailing the program will be released soon. This article will provide a comprehensive detail of the license sale process. We appreciate your patience and understanding.
TAP Token Launch Postponed
We have some important news regarding the launch of the $TAP token. Based on conversations with our CEXs and launch partners we’ve postponed the originally planned launch date due to market conditions and liquidity drought. To avoid potential negative outcomes due to factors beyond our control, it was in our best interest to postpone the launch. We understand this news may be disappointing, but we want to assure you this is only a temporary delay. The $TAP token launch will still happen this summer. We’ll be announcing a new launch date very soon, so stay tuned to our social media channels for the official announcement.
Stay Informed
We appreciate your patience and understanding. We’ll continue to keep you updated through our social media channels. Make sure you’re following us to receive the latest news about the $TAP token launch date and other important announcements.
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
