Tap Protocol has become the first Bitcoin L1 project to conduct token sales on Coinlist. It focuses on a multi-functional development framework based on Ordinals, including Promises, Multisend and other functions. Tap Protocol provides developers with a flexible Bitcoin development environment. After $TAP was launched, the price once reached $11.34, which was 3 times higher than the ICO price. (Preliminary summary: 90,000 mg is not the top? Glassnode: Bitcoin profit-taking is lower than the previous peak, and there is still room for growth) (Background supplement: Tap Protocol will launch the token $TAP tomorrow! How does the TRAC system release the Bitcoin ecosystem? Potential? ) The launch of the Ordinals protocol at the end of 2022 and the launch of BRC20 in March 2023 will push the Bitcoin ecosystem into the spotlight, inspiring countless projects to try to break through Bitcoin’s positioning as “digital gold” and further expand its effectiveness. One of the projects has Seizing this opportunity, Tap Protocol was launched last year and became the first Bitcoin L1 project to conduct a token sale on Coinlist. What is Tap Protocol? Tap Protocol is a protocol based on Ordinals designed to extend the functionality of Bitcoin. It enables developers to directly use Bitcoin by introducing “Promises” functions similar to smart contracts, multiple sending functions, decentralized governance, supporting complex token operations, and realizing native token exchange without the need for cross-chain bridges. Build higher-level applications on the currency network. Therefore, Tap Protocol is a development framework based on Bitcoin Ordinals. According to officials, the key features of Tap Protocol that are most popular among developers and users are: Multisend: As the name suggests, this feature allows developers to send tokens to multiple users at one time, allowing developers to distribute tokens It is more efficient and users can receive tokens quickly and seamlessly, creating a win-win situation. Token and Privilege Authorities: This function is equivalent to a "hook" in the protocol, allowing third parties to interact with TAP Protocol. This means that any Layer 2 protocol can communicate with the TAP Protocol and manage its assets (such as tokens and digital collectibles), thus expanding the application scope of the protocol beyond the built-in functions and providing developers with greater flexibility. The protocol is developed by the Trac team, a project aiming to decentralize the tracking of the Ordinals meta-protocol. Extended reading: Tap Protocol will launch token $TAP tomorrow! How does the TRAC system release the ecological potential of Bitcoin? Tap Protocol, a project developed based on Tap Protocol, has been launched for about a year, and the ecosystem has covered a variety of applications, including DeFi, GameFi, Launchpad and wallets. Among the more well-known projects are: DEX-TaparooSwap TaparooSwap is the first AMM and decentralized exchange (DEX) deployed on Bitcoin L1, focusing on completely decentralized peer-to-peer trading. The platform supports the liquidity pool of any Tap token and provides exchange between Bitcoin and Tap tokens and between different Tap tokens. TaparooSwap does not use an order book, but instead uses a liquidity pool design and supports users to customize the slippage percentage, providing a flexible trading experience. In addition, TaparooSwap also launched the cross-chain bridge "TaparooBridge", which allows Tap tokens to be seamlessly bridged to Ethereum, so that you can participate in the ecology of both parties. It is worth mentioning that when the Ethereum wallet holds more than 50 $Tap, there is no bridging fee. 𝖳𝖺𝗉𝖺𝗋𝗈𝗈𝖡𝗋𝗂𝖽𝗀𝖾 101: 𝖧𝗈𝗐 𝗍𝗈 𝖻𝗋𝗂𝖽𝗀𝖾 𝖳𝖺𝗉 𝗍 𝗈𝗄𝖾𝗇𝗌 𝗍𝗈 𝖤𝖳𝖧 Ready to make the hop ? Here's your easy, step-by-step guide to take those Tap tokens over to ETH-land! You can use the product now: https://t. co/SCWWtG16oc pic.twitter.com/jmie5VAdLS — TaparooSwap (@TaparooSwap) October 26, 2024 Chain Game-Dark City Dark City is an MMORPG chain game. At the end of last year, it opened free minting of $MINER to redeem its game token $DRK At that time, it once caused the Bitcoin network Gas to surge. Financing background In terms of financing background, Tap Protocol announced the completion of US$4.2 million in financing in December 2023. This financing was led by Sora Ventures and received support from Rw3, Cypher Capital, Kosmos Ventures, Oak Grove Capital, Perock Capital, New Tribe Capital, Cogitent Ventures, Compute Ventures, MSA Novo and Skry Labs and other investment institutions participated in the investment. In addition, executives from Animoca Brands and Quantstamp also participated as angel investors. $Tap Token Economics Tap Protocol’s native token is $TAP, with a total supply of 21 million, the same as Bitcoin, of which airdrops account for 6%. Officials stated that the main functions of $TAP include: Discounts, rewards and payment of gas fees and enabling Promises function Incentivizing validators Governance On October 23, Tap Protocol conducted TGE of $TAP and airdropped it to more than 15,000 wallets. Officials said that through their multi-send function, only 6 transactions were needed to complete this airdrop, and the cost was only 0.045 BTC. $Tap Breaks 11 Magnesium $TAP has been doing well since its launch. According to CoinGecko data, $TAP price hit a high of $11.34 on the 11th, which was a 3.17x increase from the $3.57 purchase price at the time of the Coinlist ICO. It was trading at $8.07 at press time, up 1.2% in the past 24 hours. The official tweeted at the beginning of October that the trading market and official wallet (currently already on Google Chrome Stor...