Bitcoin is at a critical moment of development, and more and more people realize that having $1.3 trillion of top assets idly sitting in wallets is a waste. With the flywheel of users, investors, and developers turning, the Bitcoin ecosystem is on the verge of an explosion. Currently, many BTC L2 solutions, similar to the criticized ETH L2, have caused numerous liquidity fragmentation pain points. Tap Protocol (@tap_protocol), based on the native solution of BTC Ordinals, enables BTCFi operations without relying on L2, and is expected to release billions of BTC incremental funds, which is worth paying attention to!
Currently, Bitcoin's market cap is approximately $1.3 trillion, accounting for 58% of the entire cryptocurrency market. Compared to the prosperity of the ETH ecosystem, the development of the Bitcoin ecosystem has just begun. If Bitcoin can unlock about 20% of its liquidity, it will bring in over $200 billion in incremental funds, which will significantly boost the entire Bitcoin ecosystem and provide enormous incremental funds to the cryptocurrency market. This is undoubtedly a new engine for the bull market!
As a staunch supporter of the BTC ecosystem, I am essentially supporting a great transformation and a magnificent bull market!
Project Introduction:
Tap Protocol (@tap_protocol) is the first native BTCFi protocol built on BTC Ordinals. It works without relying on any BTC L2 chains and utilizes an exclusive 'Tapping' protocol internal verification mechanism, simplifying the transaction verification process and introducing the TAP token standard. Users no longer need to worry about the numerous BTC L2 wraps and bridges, achieving native BTC transactions and exchanges with one click. Tap also offers unprecedented flexibility and programmability, allowing users and developers to implement a rich variety of ETH-like operations on the BTC mainnet, such as native BTC smart contracts, minting and transfers, swaps, AMMs, liquidity pools, lending, and more diverse DEFI gameplay!
Core Advantages of Tap Protocol:
• Native Bitcoin Smart Contracts: Without relying on cumbersome BTC L2 solutions, Tap is built directly on the Ordinals protocol, inheriting the strong security and decentralization of BTC, and natively supporting BTC smart contracts, facilitating the construction of various BTCFi applications.
• Cross-chain Interoperability: The Tap Protocol can be 'embedded' into other public chains, enabling them to communicate with each other. Users can access secure cross-chain interactions and transactions, enhancing the user experience by simplifying the transaction process and improving overall accessibility.
• Developer Friendly: Supports currently mainstream programming languages such as Python, JavaScript, TypeScript, Rust, etc.
• Rich Ecosystem Application Support: TaparooSwap and The Taparoo Bridge, as the project's official swap and cross-chain bridge, achieve native direct bridging from BTC to ETH and native swaps between BTC and $TAP tokens, enhancing liquidity and accessibility.
• Cost-effective: Although Tap is built on native BTC L1, the fees remain low, and token distribution is cheaper than Ethereum.
• Tap 'Permission' Feature: Similar to root permissions on Android phones, gaining access to the core 'permission' of Tap's complex functionalities enables customized services for specific application scenarios, providing rich differentiation and playability for more application ecosystems.
Core Products:
TaparooSwap (@TaparooSwap) is the official first BTC L1 DEX of the Tap Protocol, allowing for the direct creation of liquidity pools and participation in swaps on L1.
https://x.com/TaparooSwap/status/1849166207519179166…
The Taparoo Bridge has already gone live, allowing for seamless bridging of native tokens, currently supporting ETH, with plans to support more in the future, including BNB, SOL, SUI, etc.
Imagine converting BTC to ETH through The Taparoo Bridge, and then converting ETH to SOL via @wormhole to participate in various DEFI systems, all of which are native and do not require cross-chain transactions or various xBTC GAS fees. This will greatly enrich the existing DEFI landscape and make a significant contribution to the crypto market.
Additionally, the project has recently implemented GAS fee subsidies for cross-chain bridges. As long as you hold 50 $TAP tokens in your wallet, you will achieve 0 GAS fees.
Ecosystem:
Currently, there are more than 20 ecosystem projects built on the TAP Protocol, covering multiple tracks including DeFi, infrastructure, Gamefi, and NFTs. They are actively integrating and will provide rich ecosystem incentive programs, with enormous growth potential in the future!
The project token $TAP is currently listed on three exchanges: Kucoin, Gate, and Mexc, performing well. When it comes to token prices, we must mention the CoinList token sale, recognized in the industry for its high standards and rigorous token selection. Tap Protocol, as the first BTC ecosystem project to be launched on CoinList, has gained recognition in mainstream European and American markets.
The cost of the CoinList token sale was $3.57, with a highest opening price of $11.6 yesterday, yielding about three times the return. Even with today's slight drop, there is still around two times the return, which is already quite impressive compared to my personal KOL investment in first-tier projects.
Team:
BennyTheDev (@rarity_garden) is the founder and CEO of Tap Protocol, with extensive Web3 development experience, and is an early supporter of the #BTC ecosystem and a loyal advocate of native #BTC!
I personally tracked various information he released since the time $TRAC had a market cap of $400,000, until the birth of the great project Tap Protocol. I cannot help but admire how he has turned promises into reality!
Investment Institutions:
Tap Protocol has raised a total of $4.2 million in funding.
Investment institutions include: Sora Ventures, Cypher Capital Group, LD Capital, Cogitent Ventures, NxGen, X Ventures, RW3 Ventures, and other well-known investment institutions.
Token Economics:
Tap Protocol token name: $TAP
Total token supply: 21 million
Initial supply: 1.95 million (9.29%)
Foundation: 22.5%
DEFI Ecosystem: 15%
Team: 13.24%
Private placement: 12.52%
Exchange liquidity: 10%
Seed round: 9.24%
CoinList: 7.5%
Airdrop: 6%
Advisors: 4%
Specific details are as follows
Roadmap:
According to the official roadmap, Bitcoin wallets and trading markets are expected to be released in Q4, along with the launch of Swap, Staking, and other features, which will likely bring significant boosts to the coin price!
Most intriguing is the introduction of Pipe AI in 2025, which will achieve deep integration between the BTC ecosystem and AI! This spirit of continuous exploration and bold innovation is truly admirable and will bring prosperity and glory to BTC L1, which I highly anticipate!
Summary:
When I first discovered $TRAC, it was merely a BRC20 baby project with a market cap of $400,000. I once doubted whether founder Benny (@rarity_garden) could achieve this great vision, from the first decentralized index network for BTC to the first smart protocol for BTC. Step by step, Tap Protocol allowed me to witness greatness and the founder's unwavering belief. Tap Protocol not only brings a paradigm shift to BTCFi but also injects vibrant life into the cryptocurrency market, making it worthy of continued attention!
