The TAP Token is the core of Tapioca DAO, a full-chain stablecoin ecosystem. It plays three important roles in the Tapioca ecosystem: voting rights in the governance of the Tapioca DAO ecosystem, claims on Tapioca ecosystem fees, and as an economic stimulus through the call option incentive model pioneered by Tapioca.
Technical Background of the TAP Token
The TAP Token is a LayerZero OFTV2 (Full-Chain Fungible Token), a full-chain extension of the ERC-20 token standard that supports both EVM and non-EVM. The TAP Token will be deployed first on the Arbitrum Network, the main scaling solution for Ethereum. The supply of the TAP Token is limited, with a total of only 100,000,000 (100 million) TAP Tokens.
Note: Do not interact with any TAP Token contracts until TAPIOCADAO X and DISCORD release an official deployment announcement.
Why now?
The Decentralized Finance (DeFi) space has become stagnant, filled with inefficient forks and new ways of packaging money for insiders and venture capital groups to extract profits. Tapioca was founded by a group of passionate DeFi users who were tired of the lack of innovation, transparency, and community focus in the space. Tapioca’s vision is to create and scale a fully decentralized and overcollateralized stablecoin ecosystem that will propel the DeFi space forward from its current fragmented state while re-establishing its core principles.
This vision has been polished into the shining pearl it is today through the joint efforts of thousands of like-minded Tapiocans in a year. Many have witnessed firsthand the embodiment of Tapioca’s “community first”, which will continue as we hand over the entire Tapioca ecosystem - a dream carefully crafted by 15 people over two years with their blood, sweat, and tears - completely into the hands of our glorious community, starting on day one.
TAP's Core Role
The TAP token serves as the backbone of the TapiocaDAO ecosystem, which consists of six core sub-protocols:
Big Bang USDO (OmniDollar) creation engine
Singularity isolated lending engine
Yieldbox token vault, successor to Bentobox
Pearlnet LayerZero DVN (decentralized validator network)
tOFT liquidity reorganization module
twAML economic consensus engine
TAP has no function in the Tapioca ecosystem until it is time-weighted (similar to being locked). After time-weighting, TAP becomes twTAP. twTAP or "time-weighted TAP" is represented by LayerZero ONFT-721, a full-chain extension of the ERC-721 NFT token standard.
Benefits of twTAP
twTAP provides the following benefits to holders:
Voting rights in the Tapioca DAO and option metrics
Proportional distribution of ecosystem fees, distributed every epoch (weekly) in the form of Tapioca's full-chain stablecoin USDO
Initial distribution of TAP tokens
The initial supply of TAP tokens is 7,630,000. 83% of the initial supply will be allocated to the community, ensuring the decentralization and community-driven nature of the Tapioca ecosystem.
Future Outlook of TAP Tokens
As Tapioca DAO continues to develop, TAP tokens will play a key role in driving innovation in decentralized finance. Not only is it a governance tool, it will also drive the entire DeFi ecosystem forward through its unique incentive mechanism and economic model.
The limited supply of TAP tokens and strong community support give it great potential in the future. For those who want to participate in the decentralized financial revolution, TAP tokens are undoubtedly a project worth paying attention to.
Conclusion
TAP tokens are not only the heart of Tapioca DAO, but also the key to driving innovation and development in the entire DeFi field. Through its unique full-chain architecture, limited supply, and strong community support, the TAP token offers unlimited possibilities for the future of decentralized finance. Whether as a governance tool or an economic incentive, the TAP token will play an important role in driving the DeFi space forward.
The launch of the TAP token marks a new era in the decentralized finance space. As the core of a full-chain stablecoin ecosystem, the TAP token not only provides users with powerful governance tools, but also drives the entire DeFi ecosystem forward through its unique incentive mechanism and economic model. For those who want to participate in the decentralized financial revolution, the TAP token is undoubtedly a project worth paying attention to.