TapSwap Delays Its Airdrop Again, Citing Advice From a Tier-1 DEX

TapSwap users were disappointed with the delay since the TGE date was not mentioned. Most importantly, this is not the first time the airdrop has been delayed.

TapSwap, a popular tap-to-earn platform on Telegram, has announced a further delay in its token generation event (TGE) or airdrop.

In an X post, the developers stated that the token listing will not take place later this month as previously announced. Instead, it will be postponed to mid-February, as they believe market conditions will be optimal at that time.

TapSwap cited advice from a tier-1 decentralized exchange (DEX) regarding the delay, with the DEX recommending that pushing it to February would help ensure a strong debut. They also noted that the delay will allow them to work with influencers and promote the token ahead of its launch.

TapSwap users were left disappointed by the delay, as no specific TGE date was mentioned. Notably, this is not the first time the airdrop has been delayed.

It was initially set to be listed in July last year as users flocked to the platform. However, the listing was then postponed to "sometime in the second quarter."

At the time, the developers stated that the delay would allow them to secure partnerships with major centralized exchanges prior to the listing. Additionally, they planned to use the delay to work on the ecosystem to give utility to the TAPS token.

TapSwap has consistently justified the listing delay by highlighting the performance of most Telegram tap-to-earn projects, such as Hamster Kombat, Notcoin, and DOGS. While these were highly popular projects, their tokens crashed after their airdrops due to their lack of an active ecosystem.

TapSwap has used the listing delay to build the first web3 skill gaming hub, where users can compete with global players and earn tokens in the form of TAPS.

However, the TAPS price is likely to crash post-token generation event as widespread holder sell-offs are triggered by disappointment over delays and rollout issues.

Many TapSwap holders will likely sell their coins based on their experience with other tap-to-earn tokens. Moreover, many "to-earn" tokens, such as Sweat Economy and StepN (GMT), crash as a majority of users sell their tokens. Similarly, many play-to-earn tokens, like Decentraland (MANA) and Axie Infinity (AXS), have crashed.

One potential reason for this is a disconnect between the developers and the ecosystem participants.

The developers envision a growing ecosystem that will span decades, whereas participants are primarily interested in the short-term profits when it lists. In the case of TapSwap, most of its tap-to-earn users will likely not be interested in the skill gaming platform or other ecosystem initiatives.

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