5 Red Flags That Hint The Tapswap Crypto Project Might Not Be Legit—Tapswap has gained serious ground in the Nigerian crypto space after the very successful airdrop campaign by Notcoin.
Millions of Nigerians are engaging in the tap-to-earn activity that spells out the entire process of Tapswap mining and earning much-needed points.
Tapswap is the leading Telegram-based crypto project by a number of participants taking the lead over Blum, Hamster Kombat and other crypto projects hosted on Telegram.
However, Tapswap has come under scrutiny by concerned members of the Nigerian crypto community for exhibiting too many red flags of recent casting a shadow of doubt on the legitimacy of the entire project.
The Airdrop campaign has lost a considerable amount of trust within the Nigerian crypto community as keen members point out glaring red flags in the Tapswap project that is too steep to ignore.
To get a hang of the matter, Nairametrics interviewed Anyasi Nkemjika Emmanuel a top crypto investor and trader known on X as Crypto Lord.
He is heavily involved in the Tapswap mining exercise and he expressed his view on the barrage of Negative reviews the crypto project has been getting recently.
After a brief but insightful interview with the crypto head followed by thorough research and information gathering.
we were able to narrow down five red flags exhibited by the Tapswap crypto project and its team that have seriously dented their reputation and cast a shadow of doubt on the legitimacy of the project.
5 . One Ton to double your Points
There are two kinds of airdrop campaigns and they are free airdrops and paid airdrops. To best understand Nigeria’s crypto community, the Tapswap airdrop campaign falls under the category of free airdrop campaigns.
- This means that participants are not expected to pay any amount to be eligible for airdrop.
- They only need to participate in the tap-to-earn process.
- However, the Nigerian crypto community was taken aback when the Tapswap team announced a feature demanding its players to pay 1 Ton token (Native crypto of the Ton Blockchain) to double the number of points they have earned from engaging the project.
- Many Nigerians reacted to this and perceived it as a huge red flag because it defeated the entire aim of the strictly Tap to Earn Points exercise and felt like the project was trying to cash in on its huge number of players.
- Besides, 1 Ton is worth approximately $7 (N10,000) and many Nigerians were not willing to part with that for a supposed free airdrop campaign.
- The 1 ton to double up feature also made a mockery of hardworking tappers who have invested a lot of time growing their points with sheer hard work and grit.
- This development from the Tapswap team is a major red flag which has cast doubts on the legitimacy of the Tapswap project.
4. No Community Space
Unlike other budding Web 3 projects, Tapswap has refused to launch a community space.
- A crypto community space consists of people who share an interest in cryptocurrencies and blockchain technology.
- Members include enthusiasts, investors, developers, and influencers, like crypto YouTubers.
- They collaborate, share knowledge, and support each other’s growth within the digital currency space.
- A community space adds to the legitimacy of a crypto project because it creates an avenue for all stakeholders to come together, interact and drop reviews on the project.
- For some strange reasons, Tapswap has refused to launch a community space despite its enormous number of users.
3. Nigerian Web 2 Pages
Early June the Tapswap team launched a new task which required its users to subscribe to two Nigerian News channels to gain 400,000 points.
- This raised a lot of dust and fueled a theory that the Tapswap project might be run by some Nigerians who are trying to take advantage of the massive surge in traffic around to TapSwap project to increase the reader base of these news channels.
- Moreover, both news channels are Web 2 properties and is quite out of place to integrate it with a Web 3 project.
- Our source claimed that the integration of the Nigerian news channel quote “ Made the project look silly” and is indeed one of the major red flags from the Tapswap team so far.
2. Blockchain Launch Uncertainty
When Tapswap started it was proudly powered by the Solana blockchain.
- This isn’t the case today as Tapswap announced on May 27 that it was no longer going to launch on the Solana blockchain citing scalability issues.
- However, the Tapswap team is yet to announce the blockchain it will be launching keeping its reported 28 million users in suspense.
- An alignment with a credible and established Blockchain will add to the credibility of the project and instill trust in Tapswap participants reassuring them that they are not wasting their time and energy.
1. Persistent Technical Glitches
The user experience for a Web 3 project as large as Tapswap unfortunately happens to be abysmal with users consistently complaining of technical glitches.
- Some Nigerians have been unable to access the Tapswap Telegram interface for days while many are having issues with connecting their wallet.
- This has raised concerns on how a Web 3 project as large as Tapswap can still be struggling with the basics and failing at propping up its platform for seamless user experience.
- The Tapswap team recently announced a maintenance exercise on June 7 stating that the process will lead to a three-hour downtime.
- Compared to Notcoin, the Tapswap user experience has been way below expectations for a major Web 3 project.
