Tap Platform NEW Liquidity Farming Rewards — Detailed
By: Tap Project, Ttt
Tags: Cryptocurrency, Ethereu, Tapcoin, Dapps, Blockchain

The time has come!

The new update is finally going live! We are excited to announce the update will be live on December 21st !

The new update will introduce, farming and Staking rewards! Be sure to visit www.tapplatform.io and www.tapproject.net to stay up to date !

Please see the below information for all the details in regards to the new liquidity rewards and how staking will work on the Tap platform.

Farming

The loot farm allows users to yield farm Tapcoin (TTT) by depositing UNI-V2 LP tokens (Uniswap Liquidity Provision Tokens) they receive from https://app.uniswap.org/#/add/ETH/0x9F599410D207f3D2828a8712e5e543AC2E040382

Users will be able to deposit the following Uni-V2 LP tokens

TTT-ETH

ENJ-ETH

MANA-ETH

AXIE-ETH

Tapcoins are calculated and distributed per block, therefore the longer you have deposited your tokens the more you will be able to earn.

TTT-ETH Reward Pool

TTT-ETH UniV2 LP Tokens

In addition to Dega tokens, the TTT-ETH Reward pool will provide 5X more rewards than any other pool.

Approximately 7.5M TTT (87 TTT per block) is distributed to the TTT-ETH pool for the first two weeks of the launch(starting December 21st, 2020). Thereafter rewards are calculated on a month to month basis.

So those that deposit within the first two weeks receive an more rewards!

The following months will be as follows:

1st month (14M approx) (81 TTT per block)

2nd Month (12M approx) (64 TTT per block)

3rd Month (9M approx) (52 TTT per block)

*percentages are based on the circulating supply. The above rewards are only for TTT-ETH pool. All other pools are approximately 5X less.

During the first two weeks approximately 500K TTT (for total pool) is available as return per day! These are extremely aggressive returns in TTT and are only valid during this time.

TTT is distributed back to users dependent on the amount of users currently in the pool and the amount of Uni-V2 LP tokens they deposit relative to the total pool.

For example, If two users deposit 50 Uni-V2 LP TTT-ETH tokens, they both will receive 50% of the pool rewards since their contribution is the exact same.

But what if three people deposit ?

If user A deposits 40, user B deposits 40, and User C deposits 20 Uni-V2 Lp tokens, then the reward will be split three ways with User A & B each receiving 40% of the reward and User C receiving 20%.

Reward incentives will be re-analyzed every 30 days and may be adjusted accordingly. At the end of 3 months, we anticipate the circulating supply to be approximately 313M based off of reward distribution.

Claim TTT Reward

Users are able to claim their rewards at any time and for additional rewards they can stake those TTT to take advantage of platform transactions.

How do I earn Dega tokens?

Dega tokens are provided to those who deposit in the TTT-ETH Uni-V2 LP pools. This is the only way to earn and mine dega tokens. Users are provided with 7 dega tokens during each transaction. It is recommended that users use 7* dega during their transaction as this provides the most optimal savings.

Below is a recent Dega test on mainnet. The image on the right is the transaction prior to dega being used. Notice that the gas cost is $6.12. However, the image on the left is after Dega has been used, the gas cost was reduced to $3.20 !! — saving users $2.92 or 52%!!!! Amazing!

Successful Dega Mainnet Test

Dega token is only minted during each transaction with a max supply of 20,000. Note that the above was the most optimal solution and during the high of what users can save, further details to come.

Staking

For those that currently have TTT, you can stake them on the Tap Platform. Staking allows users to receive a percentage on all transactions that occur on the Tap Platform. .25% of every transaction is sent to the staking pool and divided proportionally to its users depending on the amount of TTT staked.

Note: When users stake TTT they receive TTTX. TTTX is used as a way to calculate the amount of eligible rewards a user will receive. You will receive rewards based on your TTTX that you hold relative to the total pool. Your TTTX balance will only change if more TTT is staked.

FAQ

What do I need to do to farm?

Acquire TTT-ETH UniV2 Tokens when you deposit both TTT and ETH to the Uniswap Pool (https://app.uniswap.org/#/add/ETH/0x9F599410D207f3D2828a8712e5e543AC2E040382). Lp tokens are provided by Uniswap into your Meta Mask account. Add your TTT-ETH UniV2 tokens as an asset to Metamask (token address: 0x7f1fd0E2A650513Bc8b89Dd66a51267b772D0225) Deposit the TTT-ETH UniV2 tokens to the farming pool on the Tap platform.

Who holds custody of the TTT or TTT-ETH UniV2 tokens?

Users connect their own web3 wallet such as MetaMask to our contracts, we do not control the private keys and allow our users to hold custody of their own crypto.

When are Rewards Sent?

Rewards are sent automatically via contract. Users are able to see an active ticker on the platform that updates as they earn.

How do I get Tapcoin (TTT) ?

Tapcoins (TTT) are available on Uniswap by adding the contract address to uniswap list(0x9f599410d207f3d2828a8712e5e543ac2e040382)

This is an amazing day for the project and we will continue to provide more information in the coming days! Be sure to tell everyone and spread the news that the update is coming December 21st!

To get an in-depth look at what the new update will be like check out our latest article >> What to Expect? Or if you missed our recent AMA check it out here