Staking, Minting and Exclusive NFT’s — Tap Platform

Quarter 4 brings us to the most innovative advancements of the Tap Platform and the Tapcoin. If you haven’t seen our recent Roadmap, you can read it here. Now we wanted to take the time to go into some detail in regards to the changes that we will be seeing on the Tap Platform.

New to the Tap Platform will be four main contracts, Governance Contracts, Mint Contracts, Burn Contracts and Staking Contracts. Although other projects use similar contracts ,below describes how each of the contract style is used directly within the Tap environment:

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Governance Contracts: A set of smart contracts that help allow the community to govern the tap environment and ecosystem.

Mint Contracts: A set of smart contracts that mint erc-721(NFT’s), erc-20 (Dega gas reduction tokens).

Burn Contracts: A set of smart contracts that of handle the burning of erc-20 (TTT) tokens

Staking Contracts: A set of smart contracts that allow users to stake (TTT) and other pairs including LP’s, that will provide rewarding of tokens.

To provide a bit of background around the Tapcoin, we should understand a bit about the ecosystem itself. The Tapcoin (ERC-20) (TTT) is a token on the Ethereum platform. Its design follows widely adopted standards. The Tap ecosystem consists of the Tapcoin (ERC-20), Tapkey tokens (Non-fungible)(“NFT”) and Dega* tokens. Tapcoins act as an intermediary token that make it possible to transfer value from game to game.

Tapcoins are earned on the Tap Platform (www.tapplatform.io) by users who convert their in-game earned and premium currency to Tapcoins. Each game on the Tap platform has individual value systems that push and pull from the contract depending on their in-game currency value. This is done via the “Tap Value Matrix” system.

On the Tap Platform users can connect their Steam and Epic accounts and receive Tapcoins for their in-game steam and Epic games achievements. Achievements can be exchanged for measured TTT based on achievement difficulty. Tapcoins can be earned through staking on the Tap Platform. Users can deposit TTT or Uniswap V2 tokens (specific tokens apply) to earn TTT and Dega* tokens.

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Governance Contract

Users who hold TTT can provide input into aspects of the Tap environment by a community vote. This can consist of changing a game specific distribution %, adding additional TTT pools, increasing burn contract % or more.

Mint Contract

New to the Tap Environment is the creation of new NFT’s. Currently on the Tap platform users acquire Tapkeys (NFT), which when leveled up can provide users access to certain places within the Tap Platform. This new update introduces a new method in which NFT’s can be created based on AAA in-game achievements and completion. Play fortnite, complete and in-game achievement, like 1000 kills, and generate a special NFT based on your achievement. Completed some of the hardest achievements, like Gears of War “Seriously 5.0” or GTA V’s “Masterminds”, now you can mint that into history.

Burn Contract

On the heels of Ethereum 2.0, the Tap platform is adopting some new protocols and standards that we will be seeing with Ethereum 2.0; And that is the contractual burn of the left over tokens from the initial distribution. What does this mean? Built within the new portions of the platform is the action that tokens will be burned based on Platform usage til’ a 50% threshold is met.

Staking Contract

To start staking, anyone holding TTT or Uniswap LP gaming tokens can stake those LP tokens into the corresponding initial list of pools that are offered. Upon doing so, users earn TTT token rewards , as well as Dega gas reduction tokens. For members of the community that hold TTT tokens, they are eligible to request other types of gaming tokens be added through governance.

At every confirmed block, a set amount of TTT will be equally distributed to the stakers of each of the identified pools.

Initial Gaming Pools:

  • Weth
  • TTT LP
  • ENJ
  • MANA
  • SLP
  • SAND
  • GAME

*Pools identified above may be subject to change*

The staking contract will use a time multiplier method in which rewards are granted based on deposit length. The longer you stake, the more Dega gets minted as well as the more TTT gets burnt.

Now lets get into one of the concepts that has been mentioned numerous times within this article and that is Dega (Decentralized Gaming Token).

Every transaction on Ethereum blockchain involves a gas fee. It is the fee which is paid to the miners for validating a transaction. The price of gas keeps on fluctuating due to the market demands. It can be near impossible to predict gas fee’s. Sometimes, the gas fee is low and other times its high.

Dega (Decentralized Gaming Tokens) is minted in order to allow you to tokenize gas. It allows you to farm and store when Ethereum gas prices are low, and utilize when gas prices are high in order to lower the gas fee.

So what does it mean for Tap Platform users that stake and receive Dega token? This means that while everyone else is paying full gas prices to complete transactions, anyone who has staked , received and stored their Dega tokens, can receive as much as 30%+ of their transaction fees covered for any transaction within the Tap Platform . The longer a user stakes their tokens the more Dega and TTT they will receive.

How much Dega tokens would it cost to complete a transaction? It all depends on how much gas is required on your transaction.

How do we get our hands on Dega tokens? When users stake TTT tokens on the Tap Platform, Dega tokens will be minted at the same time and deposited to the users wallet when claimed. The longer a user stakes their tokens, the more Dega tokens they are eligible to receive. Dega tokens are use a ERC-20 standard and can be transferred or received like any other token, however, they have a max supply of 20K and cannot exceed that amount.

If Dega tokens are minted how do they have a max supply? Dega tokens are minted until a max supply of 20K tokens. However, once that cap is reached no more can be minted until they are used within the system. Once used more can be minted til’ the 20K cap is reached.

Dega tokens are built to be utilized by the gaming community as the standard for gas reduction. They can be adopted by any other token and used within their network.

We are extremely excited to have these advancements hit out platform in the next few weeks as some of the contracts and protocols will hit within the month of October. We will continue to provide further information as the platform advances.

What is the Tap Project?

The Tap Project is a revolutionary blockchain project that aims to decentralize the gaming industry by providing gamers and developers with options and opportunities when it comes to in-game virtual currencies; By allowing gamers opportunities to convert and transfer their in-game currencies across multiple platforms and games. The Tap plugin built for Unity and Unreal, increases discoverability, engagement, cross-platform play and revenue for developers using a tiered transactional revenue model.

The Tap Project Milestones:

  • Tap N Go Rewards : Over 100K Downloads on Google Play Store
  • 20K Users on the Tap Platform allowing gamers to play, games, and convert game score to TTT
  • Patent Pending IP
  • Proof of Mastery Protocol
  • 3 Year Platform Development and Strong Core Development Team

Twitter: https://twitter.com/Tap_Coin

Telegram: https://t.me/tapcoin

Website: www.tapproject.net

Platform: www.tapplatform.io

Tap N Go Rewards: https://play.google.com/store/apps/details?id=net.tapngo.android

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Revolutionary vision built off #ethereum #blockchain that allows #gamers to convert and transfer their in-game virtual currencies to other games. (TTT) #tapcoin

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