A New Day, Same Vision — The Tap Project Rebrands to ‘ Game X Change’
Over the weekend, we announced we were rebranding to Game X Change and strengthening our positioning as a blockchain provider. If you haven’t read that article click above to get caught up! For those who have, let’s go over some more details !
What is Game X Change
Game X Change is a gaming platform where users can move assets (virtual cash and NFTs) from one platform, game or blockchain to another in a safe and controlled way. Just like the Tap Platform users will be able to convert and transfer in-game currencies and NFTs from one game to another! Along with the platform change, there will also be a change of our native utility token. Tapcoin (‘$TTT’) will be transitioning to a new utility token, Experience Potions(‘EXP’).
Why the word EXP?
‘Experience Points’ or EXP is very recognizable in gaming and are gained in many RPGs as characters progress through the game and complete missions or achieve objectives. The accumulation of “Experience Points” may permit a character to acquire new abilities or improve existing ones, such as strength, magic, health and skills. EXPs may also give a character access to more areas or items. Since Game X Change is THE place for gamers, we wanted gamers to feel familiar with something that everyone knows about. In our case, we call it Experience Potions!
What is EXP?
EXP is the utility token on the Game X Change platform that offers rewards for playing, earning, farming and prizes throughout the platform. EXP can be combined with a selected stakeable NFTs on the Game X Change in order to receive additional rewards. Users are able to use EXP to import/export to and from game currency and earn from AAA steam gaming achievements. Players are able to interact with the Game X Change ecosystem by the following:
- 🎮 Play and Earn by transferring in-game currencies and NFT between games
- 🖼️ Import and use purchased NFTs into integrated games to be used
- ♻️ Convert game currencies directly to $EXP
- 🛍️ Buy NFT passes and play connected Steam games like PUBG, Rocket League, Destiny 2, CSGO, GTA V, The Witcher, Rust, and more. Convert those achievements into $EXP and other cryptocurrencies. New games will be added frequently!
- 🛒 Purchase limited-time partner NFTs from the Game X Change Marketplace or buy admission passes using $EXP.
- 🎁 Collect Exclusive NFTs to sell in the global secondary market.
- ⛏️ Stake $EXP and NFTs to receive from the ecosystem treasury.
EXP Tokenomics
$EXP is built to provide utility and reward back to players, developers and those who interact with the ecosystem. It’s design is similar to a reflection token but differs that the rewards go to those who interact with the ecosystem in some way. Interacting with the ecosystem can be done by the following:
- Playing games on Game X Change
- Staking NFTs and partner tokens
- Staking EXP for rewards
- Converting game currency and achievements to EXP.
During each transaction, there is a 2% fee that is sent to a specific 'Play and Earn' eco-wallet in order to provide a cycle of rewards for users.
During each sale of EXP, a buy-back and burn of 4% occur in order to slowly reduce the total supply.
Note: These features may be turned off, reduced or increased based on community governance vote.
Why the Token Swap
- The Tapcoin crowdfund was launched in 2017. At that time, the blockchain ecosystem was very different from what it is today and as a result of this evolution, we are now able to offer our users an array of additional utilities by updating our token contract on Binance Smart chain!
- Game X Change will allow us to restructure, and most importantly, to expand our token use-case and tokenomics to improve the ecosystem — bringing additional value to our users.
- Swapping tokens to the new chain allows us to implement governance and treasury features that reward holders from different types of revenue models.
- The legacy Tapcoin is from the era before the new token standards. The token smart contract itself is not without its quirks. The new contract will feature all of the innovations that have been developed into the BEP-20 standards since that time.
- The new EXP token offers us an easier migration path for new blockchains in the future and fits directly into our advanced roadmap.
What do I need to do? Will there be a swap?
Yes, there will be a swap. Holders of existing Tapcoins(ERC20) can look forward to swapping a 1:1 ratio of Tapcoins to EXP(BEP20) on Binance Smart Chain. Users will have to send their Tapcoins to the NFTanywhere portal in order to receive EXP. The sent Tapcoins will be burnt.
The swap portal will officially be open *September 16th [Edit: Swap will open on September 16th so that proper liquidity numbers are set] on Binance Smart Chain (www.nftanywhere.com) — and may be closed at a later date based on governance voting. Users can use the swap portal as many times as required. It is important that the portal remain open for a duration of time to allow those with enough time to transfer EXP.
Note: Ethereum gas is required to swap tokens as all transfers on the blockchain require gas.
Join our telegram and discord channels to stay up-to-date and be the first to know when it opens — Telegram: https://t.me/tapcoin — Discord: https://discord.gg/fBpj8qP
A “How to Swap” article will be published later today for clarifications.
Launch and Listing of EXP
EXP will be making its way to one of the top up-and-coming decentralized exchanges! In order to secure a listing point, a snapshot was used on September 10th. The price snapshot was the 200 EMA with the September 10th snapshot providing an average BSC launch price of 0.0055.
Stay tuned for the listing announcement!
Token Burn Event
After the launch of EXP on Binance smart chain, there will be a large token burn event, burning off millions of EXP!
Token Economy
As we transition to Game X Change it is important to ensure that all our tokens are aligned going forward and allow us to take advantage of our new structure. With many inquiring about gTTT, we will be moving to a dual token system (governance and utility) that ensures the needs of both blockchain supports and gamers are met. Stay tuned for more info about future swaps of gTTT!
What's next — Twitter Spaces AMA🎉!!
We thank the entire community for their support and patience as we embark on these big updates! To answer any questions and share some of the next steps we will be hosting an AMA on Twitter Spaces!
- Date: September 15th
- Time: 11am PST
Follow us at https://twitter.com/Tap_Coin , so you don’t miss out!
Stay tuned for a ton of updated information on the website reveal, token swap economy, Launchpad partners, integrated game developers, and more!
The Future of Game Asset Exchange — Game X Change
About Game X Change
Game X Change is a gaming platform where users can move assets (virtual cash and NFTs) from one platform, game or blockchain to another in a safe and controlled way. Convert and transfer in-game currencies and NFTs from one game to another!
