The popular Telegram tap-to-earn app Tapswap is preparing for its long-awaited token-generating event. Will the new initiatives boost TAPS price?
The developers of Tapswap said on X that they were getting ready to release a staking platform before the airdrop. TAPS token holders can support the network and earn passive income through the staking feature.
A new skill-based game players can play to win rewards is also being developed. This game is anticipated to launch before or after the Valentine’s Day token generation event.
Tapswap Long Delayed Airdrop Launch
Tapswap strives to avoid the faults committed by other tap-to-earn networks, such as Notcoin, Catizen, and Hamster Kombat. These currencies have lost millions of users and have fallen more than 70% from their peak airdrop prices.
During its airdrop, Hamster Kombat had almost 300 million holders; today, it has less than 4 million, according to IntoTheBlock. The number of Catizen and Notcoin holders has decreased from nearly 40 million in 2024 to 1.6 million and 2.8 million, respectively.
Creating a basic skills-based learning game that TAPS holders may keep playing is part of Tapswap’s customer retention strategy. The staking component increases the token’s usefulness by providing holders with a means of generating passive income.
Will TAPS Price Increase or Decrease Post Airdrop?
Predicting whether the price of TAPS will increase or decrease after the highly anticipated token creation event in February is still too early.
Nonetheless, several factors point to a potential decline in the token following the airdrop. First, just a tiny portion of holders of Telegram-based tokens are still making money after the majority of them experienced a sharp drop following their airdrops. For instance, IntoTheBlock shows that just 0.59% of HMSTR holders are profitable.
Second, according to historical tendencies, most “to earn” tokens lose value over time. Decentraland, Axie Infinity, and Gala are just a few of the play-to-earn tokens that have seen double-digit declines from their peak values. Likewise, following their airdrop, move-to-earn tokens such as Sweat Economy and StepN have all experienced a decline.
Third, the ongoing airdrop delays are upsetting a lot of Tapswap holders. Initially planned for July 2023, the airdrop was rescheduled for the third quarter, January 2024, and mid-February.
Many holders might sell their tokens immediately after listing because of these frequent delays, especially if they have witnessed the value of comparable tap-to-earn tokens drop.
