- Faucet Protocol has delayed the launch date of its TAP token from October 21, 2024 to October 23, 2024.
- TAP, with a complete provide of 21 million, will go stay on Bitcoin and Ethereum
Faucet Protocol, a decentralized finance platform on Bitcoin, introduced that its deliberate token distribution will now happen on October 23, 2024.
The protocol beforehand introduced that the Token Era Occasion (TGE) would happen on Monday, October 21, 2024. Nonetheless, it launched an replace early Monday stating that the TGE will now happen on Wednesday, October 23 at 12:00 UTC.
Why the Faucet Protocol TGE delay?
In keeping with the Bitcoin DeFi protocol, the postponement goals to permit ecosystem companions akin to bridges to correctly put together for the potential enhance in transactions.
“Nobody likes delays, however sadly we now have to postpone our TGE till October 23 at 12:00 UTC. Whereas we perceive that the wait could also be tough, we need to be certain that our bridge and different merchandise are in tip-top form to help the anticipated excessive quantity of customers,” Faucet Protocol posted on X.
TAP shall be obtainable on the Bitcoin and Ethereum networks at launch, whereas the roadmap highlights token trade, market and staking as key milestones.
𝐁𝐢𝐭𝐜𝐨𝐢𝐧 𝐋𝟏 🤝 $TAP 🤝 𝐄𝐭𝐡𝐞𝐫𝐞𝐮𝐦 𝐋𝟏
We’re extremely glad to announce that $TAP shall be obtainable on Bitcoin and Ethereum at TGE! 🔥
The availability of $TAP will in fact stay at 21 million, as a result of our revolutionary TAP<>Ethereum bridge ensures {that a} 1:1… pic.twitter.com/9f7Yrcyc7g
– Faucet Protocol (@tap_protocol) October 17, 2024
What’s notable in regards to the Faucet Protocol is that the TAP token can have a hard and fast provide of 21 million tokens. The mission makes use of the Ordinals system, with the intention of advancing the DeFi and dApps capabilities of the BTC ecosystem via numerous belongings. It contains non-fungible tokens (NFT).
