Tapswap: The 5 Alarming Signs That The Crypto Project May Be A Scam
Tapswap has made significant strides in the Nigerian crypto space, particularly after the highly successful airdrop campaign conducted by Notcoin.
Millions of Nigerians are now actively participating in the tap-to-earn activity, which outlines the entire process of Tapswap mining and earning essential points.
As a result, Tapswap has become the leading Telegram-based crypto project in terms of participant numbers, surpassing other projects like Blum and Hamster Kombat hosted on the same platform.
However, recent scrutiny from the Nigerian crypto community has raised concerns about the legitimacy of Tapswap, with numerous red flags casting doubt on the project’s overall authenticity.
The once highly-regarded airdrop campaign has now lost a significant amount of trust within the community, as vigilant members highlight serious issues that are too glaring to ignore.
To understand the situation better, Nairametrics interviewed Anyasi Nkemjika Emmanuel, a prominent crypto investor and trader known as Crypto Lord on X.
Emmanuel, who is deeply involved in the Tapswap mining activities, shared his perspective on the negative reviews and skepticism surrounding the project.
Following a concise yet informative interview with him, coupled with extensive research and data collection, a clearer picture emerged.
The findings revealed five major red flags associated with the Tapswap crypto project and its team, which have severely damaged their reputation.
These issues have cast a significant shadow over the project’s legitimacy, prompting the community to question the future and reliability of Tapswap.
1 . One Ton to double your Points
There are two main types of airdrop campaigns: free airdrops and paid airdrops. In the context of Nigeria’s crypto community, the Tapswap airdrop campaign is classified as a free airdrop campaign.
This classification means that participants do not need to pay any amount to be eligible for the airdrop.
They simply need to engage in the tap-to-earn process to accumulate points.
However, the Nigerian crypto community was surprised when the Tapswap team introduced a new feature requiring players to pay 1 Ton token (the native cryptocurrency of the Ton Blockchain) to double the points they had earned from participating in the project.
Many Nigerians saw this as a significant red flag, feeling that it undermined the entire premise of the strictly tap-to-earn points exercise and appeared to be an attempt by the project to monetize its large user base.
Moreover, the 1 Ton token is valued at approximately $7 (N10,000), a sum that many Nigerians were unwilling to spend for what was supposed to be a free airdrop campaign.
The introduction of this 1 Ton token feature also felt like an insult to dedicated participants who had invested considerable time and effort to grow their points through hard work and persistence.
This new development from the Tapswap team has raised major concerns and cast doubts on the legitimacy of the Tapswap project.
The move has led to widespread skepticism and disappointment among the Nigerian crypto community.
Participants feel betrayed by the shift from a free airdrop model to one that seemingly requires payment to gain significant benefits.
This situation has highlighted a significant trust issue and has damaged the credibility of the Tapswap project within the community.
As a result, many are now questioning the true intentions and future viability of Tapswap as a trustworthy crypto initiative.
- No Community Space
Unlike other emerging Web 3 projects, Tapswap has chosen not to establish a community space.
A crypto community space typically comprises individuals with a shared interest in cryptocurrencies and blockchain technology.
These members include enthusiasts, investors, developers, and influencers, such as crypto YouTubers.
In these spaces, members collaborate, share knowledge, and support each other’s growth within the digital currency sector.
Having a community space enhances the legitimacy of a crypto project by providing a platform for all stakeholders to interact, share feedback, and discuss the project.
Despite its large user base, Tapswap has not created a community space for its users.
This decision is perplexing, given the benefits and increased credibility that such a space can provide.
The absence of a community space raises questions about Tapswap’s commitment to transparency and user engagement.
- Nigerian Web 2 Pages
In early June, the Tapswap team introduced a new task requiring users to subscribe to two Nigerian news channels to earn 400,000 points.
This move caused significant controversy and fueled speculation that the Tapswap project might be managed by Nigerians aiming to leverage the surge in Tapswap’s traffic to boost the readership of these news channels.
Additionally, the integration of Web 2 properties like news channels with a Web 3 project seemed out of place and raised further questions.
According to sources, the integration of the Nigerian news channels “made the project look silly” and is considered one of the major red flags from the Tapswap team.
This decision has drawn criticism and skepticism from users, questioning the project’s motives and direction.
Overall, this development has added to the concerns regarding the legitimacy and transparency of the Tapswap project.
- Blockchain Launch Uncertainty
When Tapswap began, it proudly operated on the Solana blockchain.
However, on May 27, Tapswap announced it would no longer launch on Solana, citing scalability issues.
Despite this announcement, the Tapswap team has yet to disclose which blockchain they will be transitioning to, leaving their reported 28 million users in suspense.
Choosing a credible and established blockchain is crucial for Tapswap’s credibility and will help instill trust among participants.
Such an alignment would reassure users that their time and energy invested in Tapswap are worthwhile.
The uncertainty around the new blockchain is causing concern among the community, highlighting the need for a prompt and clear decision.
- Persistent Technical Glitches
The user experience for a Web 3 project as large as Tapswap has unfortunately been abysmal, with users consistently reporting technical glitches.
Many Nigerians have been unable to access the Tapswap Telegram interface for days, while others are experiencing issues connecting their wallets.
These problems have raised concerns about how a Web 3 project of Tapswap’s scale can still struggle with basic functionalities, failing to provide a seamless user experience.
On June 7, the Tapswap team announced a maintenance exercise that would result in a three-hour downtime.
Despite this, the user experience on Tapswap remains far below expectations for a major Web 3 project.
In comparison to Notcoin, Tapswap’s user experience has been notably lacking.
These persistent issues highlight the need for Tapswap to address its technical challenges and improve its platform for its users.
No comments:
Post a Comment