Many people are mining Tapswap, hoping it will be as rewarding as NOTCOIN.

News flash!

Tapswap may never reward users like NOTCOIN because of its uncertainty, obscurity, and irregularities.

Overall, it seems it lacks what it takes.

Wondering why I am making all these assertions?

Read further to get my point.

But First, What is Tapswap?

Tapswap is a tap-to-earn project on the TON network.

You can collect TAPS tokens by tapping your phone screen.

Like other Tap-to-Earn projects, Tapswap offers its users ways to accumulate TAP tokens, which will be exchanged for funds when the project launches.

The TAPS token boasts a total supply of 1 billion, with a community-centric approach!

Half the tokens are allocated to players, emphasizing the project’s user-driven approach.

It has a vibrant global community of over 15 million players, generating significant excitement around the game.

Tap-to-earn games are a fun and simple way for players to earn by performing repetitive tasks, like tapping a screen.

Tapswap has amassed over 50 million players globally.

The way it is going, Tapswap, is unclear when it will launch a token.

Even if it launches eventually, will it be worth all the time users have put in?

Find the answer in the subheading below.

5 Reasons You Should Stop Mining Tapswap

Here are five things you should know about Tapswap before you continue tapping.

i. Inconsistent Strategy

Consistency is vital in any project, but TapSwap lacks precise strategic planning, which may affect the platform’s stability and credibility.

When a project changes its foundational technology, it’s a red flag for potential users and investors.

First, they switched from launching on Solana to TON.

At some point, it would launch on Ethereum to benefit from the gas fees.

Next, they asked people to provide Binance UID, and then they stopped. This one sparked many side comments in the community.

Later, they requested users to pay 1 TON to double their earnings. 

And this is a sign that it doesn’t have enough funds to reward people like NOTCOIN.

However, Tapswap is making some money despite these inconsistencies.

This leads me to the second point.

ii. Regional Skepticism and Monetization

There have been instances where TapSwap admins promoted other Telegram channels, especially Nigerian betting channels.

This event raised the rumour that Tapswap may be owned by a Nigerian and a mere opportunity to make money off people. 

They include them as tasks for users to carry out in order to earn more coins.

This way, the company earns money from each user who joins these channels and builds up its fan base equally.

Let me show you how TapSwap is making money off its users.

Other telegram mining bots use similar strategies. It’s not rocket science.

They leverage massive follower counts on Telegram and X to create lucrative revenue streams through sponsored posts. 

With over 50 million users, Tapswap provides an attractive platform for advertisers seeking to reach a large, engaged audience. 

Besides sponsored posts, X and Telegram are platforms that pay creators for high engagement.

Every tweet is a money-making machine for these guys because millions will engage.

In other words, every tap deposits dollars into the laps of Tapswap admins, taking time away from users.

The platform hasn’t provided real value but focuses on the immediate monetization of users.

Now, this is not unethical; many social media platforms do the same.

However, it’s only fair that Tapswap becomes more transparent and gives a definite date for its token launch. 

I discussed this in the third point.

iii. Indefinite Postponement of Launch Dates

The third thing you should know is that the TapSwap launch date has been postponed indefinitely.

Initially, the token launch was slated for May 30th, 2024, but the team moved it to 1 July 2024.

Now. July is here, and it has been shifted once again to Q3 2024. 

Users are mining tokens with no clear idea of when they can use them​, and many are vexed.

If the funding seems to be an issue and there is no definite date, there might be a token saturation issue. 

Let’s discuss that below.

iv. Token Saturation Issue

Token saturation refers to the point at which a particular token becomes widely distributed and held by many market participants.

TapSwap has over 50 million users, which means many people are mining the token.

The allocation value will be significantly diluted when too many tokens flood the market.

I think Notcoin noticed this, stopped the mining first, thus stopping the onboarding of new users, and then got to the airdrop later.

This way, they managed the users and tokens distribution ratio.

So, while you earn a lot of TAP tokens, converting them into reasonable cash might be disappointing.

Moving on, we will look at my fifth and final point.

v. The Unfair Distribution of Tokens

Reports have surfaced about bots and automated systems unfairly earning shares.

I stumbled upon a post on X that reveals how people use these systems to mine more coins.

Therefore, those mining with their fingers will earn peanuts compared to what these guys will earn.

I’m not sure the community is okay with that because it won’t be a fair distribution.

There, you have the five reasons you should rethink while tapping on Tapswap.

Let’s go ahead and conclude this post in the next subheading.

Conclusion

I will be drawing the drapes on today’s post here. I hope you enjoyed reading through it.

One good thing about these tap-to-earn projects is that they help onboard many into crypto.

When listing, these projects are listed on CEXes like Bybit, Binance, OKX, etc.

With the frenzy of tap-to-earn projects raving at the moment (July 2024), Tapswap stands a chance to build a solid project.

But only if they return to the drawing board and develop a strong plan.

Or, I might be wrong, and Tapswap may end up surprising us all.

Note that my assertions above should not be taken as financial advice. I do not offer one.

If you still want to earn good mining on Telegram, check out this post.

And if you would rather watch a video, check out ‘The Best 3 Telegram Bots’ video by Jude Umeano.

Be sure to share this post to keep others informed.

Till my next post, keep hodlin!