Tap Project X CryptoTech AMA Recap
Recap of the latest AMA with the Crypto Tech Community.
On January 9th 2021, we had the pleasure of participating in an AMA with the CryptoTech Community. We had an amazing time and thank the community for their questions and engagement. Below is a transcript/recap of the questions of interest.
Tell us a little about the Tapcoin?
Haniff Knight— Yes for sure, The Tap Project is a blockchain gaming project that allows gamers and users to convert their in-game currency and score from one game to the next. Using Tapcoins ($TTT) users can import currency into integrated mobile games, allowing them to buy upgrades in each game.
Additionally, users can play the top steam PC games like Cyberpunk, GTA V, Destiny 2, CSGO and convert the in-game achievements to TTT.
For blockchain users, users can stake their Tapcoins to earn from platform transactional fees and farm using Uniswap V2 tokens to earn liquidity rewards. Tapcoins are also required for our newest and upcoming feature “ The Great NFT Hunt”
Next question, Could you expand our knowledge about Your Roadmap this year? Are there any Updates on your Research and development progress?
Haniff Knight — Yes we have an amazing Roadmap and line up planned for 2021. Over the last year we made the Tap platform more user friendly and easy to navigate than ever before, and we just updated the platform at the end of december.
We introduced a compact sign up process and integrated additional metamask functions to facilitate an easy blockchain onboard.
We also introduced the Dega Gas token — which saves users up to 50% in Ethereum gas fees when used on the Tap Platform.
For 2021, There will be continued advancements to the farming by introducing additional Uniswap Liquidity coins, along with the staking by allowing more off chain transactions to contribute to platform revenue.
Additionally, we look to partner with other projects to allow Dega to be used on their platforms on the Ethereum network and hopefully bringing down gas prices.
We also plan to release one of our biggest NFT innovations, The Great NFT Hunt. This introduces Tapkey NFT functions, trading, marketplace more utility and value for the Tapcoin.
Trust and security is very important in any business , what makes investors , customer and users safe secure when working with your project?
Hugh Knight — Great question!
The tap platform takes its user and platform security very seriously. We ensure to utilize blockchain best practices when developing any solidity contracts as well as putting all our contracts through rigorous internal testing and quality assurance testing before we even consider allowing users to interact with it. We continually stay up to date on the newest exploits and run test against out platform to ensure we keep all our users safe.
We also use technologies that have proven time and time again that they are secure, for example metamask, elixir, as well as password encryption and user data encryption.
Have you met all your goals in the road map till now? And, during your implementation of TapCoin, were there any difficulties that you didn’t expect and did not prepare in advance? From @alfahrozi107
Hugh Knight — We pride ourselves on creating goals that are attainable and set us up for success. A lot of our goals are large in size, and we have hit all of them since we have started the Tap project. Like all things business, it has its daily challenges, and you can fully foresee everything so we spend a lot of time planning and mapping out our options and different scenarios which allow for us to remain flexible and make adjustments, if needed. Improvise, adapt, overcome.
I think like most, 2020 had its challenges also, and we took it head on and release a large update to the platform regardless, that introduced staking, farming and dega. The team and community were extremely happy with that.
A big problem for a lot of Defi projects seems to be that when farming starts, the price goes down because people unload to put liquidity into the farm. Will there be an incentive to hold and not just farm and dump? From @Vn69676675
Haniff Knight — Yes for sure. We released the beginning of our liquidity rewards in September and saw great success and support from the community. We have now moved our liquidity rewards to the Tap platform which allow users to earn additional TTT. However, the reason that people may farm and dump is because there is no true use for the coin that they earn afterwards.
We understand that, which is why we have created the Tapcoin as a multi-functional coin. The Great NFT Hunt will only add to this value. As users farm and receive TTT they can use that TTT to participate in the Hunt in an attempt to earn more value.
To add to that as well, our platform as a transactional burn contract which slowly shrinks the supply of Tapcoin at each transaction.
It is unfortunate that some projects remain half way because their developers abandon the concept because they cannot achieve the desired capitalization in the long term,how do you plan to make this project sustainable for its development? From @jokosuband
Haniff Knight — Yes, we have seen so many projects come and go, and even some that raised millions of dollars but we have remained strong and survived right through. The Tap Project started in conceptualization from 2017, and after a year of research and our MVP we began building to full launch. We have hitall our milestones, and have broken achievements. Throughout this time we launched a successful reward app that hit 100K users within 3 months and have amounted to over 216K in platform transactions with over 18K platform users.
What we have done to make this project sustainable is always adapting and innovating and adding new features that are above and far ahead of the industry. We have created the platform as a system that can in hopes run its self with minimal involvement. When we first started we were first to market and believe we lead the space in blockchain gaming innovations and continue to do so.
How will you attract investors and build the trust and win the hearts of millions of people in TAP? From @nguyenthuthuy90
Haniff Knight — Great question! Since the beginning we have always believed that focusing on development is the key for the project and allows us to build a strong foundation. To show that we are in this space for the long run, our concept is currently patent pending as we were the first to research and articulate the conversions from game currency to cryptocurrency. In order to attract new users, we just have to continue to provide use and utility for the coin which we have always done, then the coin and the project can speak for itself.
Is this a universal project ? Can every of the communities part take in TAP ? What really motivated you to create TAP ? And When was it created ? From @thihuyen93
Hugh Knight — Yes this is a universal project, build on the ethereum network, and this allows anyone that is on the Ethereum block to take part with Tap. There are many things that motivated us to create Tap, 2 of them are we are extremely passionate about blockchain and cryptocurrency as well as extremely passionate about gaming. And the bringing both of them together to allow others to earn and play is fantastic.
We conceptually started in 2017 and have never looked back, every year the platform makes improvements and the Tap community continues to grow.
Blockchain is a game changer for the world and Ethereum will continue to be a major platform and Tap will continue to get stronger and stronger.