Tap Fantasy / TonUP AMA Transcript (tokenomic, $MC and Tap Fantasy on TON)

The first AMA (Ask Me Anything) session between Tap Fantasy and TonUP has concluded. During this AMA, Tap Fantasy addressed several community concerns, including the relationship between $MC on TON and $MC on BSC, the economic model, and valuation. We have excerpted the complete transcript below.

Can you give a brief introduction to Tap Fantasy?

Tap Fantasy is an HTML5-based MMORPG blockchain game that provides players with direct access to gameplay through web pages and wallets, ensuring immediate engagement. The game is also available on the Apple App Store and Google Play, boasting a global player base of 700K individuals.

The journey of Tap Fantasy began with the introduction of “TapTap Fantasy: EternalScarlet, Knights of Fantasy” on Facebook in 2019. The game rapidly gained momentum across multiple countries, including Taiwan, Japan, Thailand, South Korea, and Russia. Within a mere six months of its Facebook launch, “TapTap Fantasy” captured worldwide attention, securing two featured mentions. This accolade transformed it into a coveted adventure and role-playing game with an expansive player count of 20 million.

In January 2022, recognizing the escalating customer acquisition costs of traditional games, which involve distributing expenses among various stakeholders, we transitioned this conventional game into a blockchain-based one. Blockchain games provided an avenue for streamlined user acquisition and transparent on-chain data, empowering users to own in-game assets. This prompted the transformation into a blockchain game.

Our efforts have not gone unnoticed, as we have garnered investments from notable institutions on the Binance Smart Chain (BSC), including NGC, YGGSEA, and Miranna.

In the same transformative month of January 2022, the launch of “Tap Fantasy NFT Skins” led to its dual feature on the Binance NFT Marketplace, significantly boosting the game’s popularity and recognition.

On March 14th, 2022, we unveiled Tap Fantasy Metaverse: NFT Game. In that very month, “Tap Fantasy” expanded its presence to various platforms such as the Apple App Store, Google Play, and Facebook Instant Game. Throughout its evolution, Tap Fantasy has consistently broadened its player base and influence through strategic releases and collaborations since its inception.

Tap Fantasy has been launched on BSC before. Could you share some information?

Since its launch on the Binance Smart Chain (BSC), Tap Fantasy has successfully amassed a global user base exceeding 700,000 players, with approximately 10,000 users actively engaged on-chain each day. This impressive achievement has positioned it as the 7th highest-ranked game on BSC and has also secured the leading spot on the Solana blockchain. Notably, the initial listing price of $MC on BSC stood at 0.5u, and its current valuation has risen to 0.64u. Despite enduring a bear market for over a year, our token has demonstrated resilient growth, maintaining a consistent upward trajectory. Leveraging Tap Fantasy’s track record of strong performance in the past, we hold a confident outlook for achieving substantial outcomes on the TON blockchain as well.

If Tap Fantasy already have a token on BSC and ranks no.7, why are they issuing a new token on Ton? Is there any relationship between the new token and the old MC token?

Tap Fantasy will soon be deployed on the Ton blockchain. In this updated version, all NFT purchases will be conducted using $MC. Consequently, we have chosen to launch the initial DEX offering (IDO) on the Ton platform. This strategic move not only grants users early access to $MC but also fosters increased user participation in the game.

The IDO price of $MC on the Ton blockchain is deliberately set lower than its launch price on the Binance Smart Chain (BSC). This pricing advantage is exclusively extended to Ton users.

It’s important to clarify that there is no connection between the $MC tokens on the Ton blockchain and the previous $MC tokens on the BSC. These tokens exist on separate chains, and the two games operate independently.

Furthermore, Tap Fantasy is on the brink of integrating both the custodial wallet, @wallet, and the non-custodial wallet, TON Space. The upcoming release of the Tap Fantasy Telegram bot version is also imminent.

The valuation seems too big, how do you determine the valuation?

The Tap Fantasy’s FDV on the Ton Chain is $2 million in $Ton, equivalent to 2.8 million USDT. However, most projects on Ton have valuations above 5 million. This indicates that Tap Fantasy’s valuation is significantly lower in comparison.

Moreover, Tap Fantasy’s valuation on Ton is notably less than its valuation on BSC, which stands at 12 million. Hence, the current valuation is relatively moderate.

How do you plan to maintain the token price at this high valuation?

To start, it’s important to highlight that the valuation is not overly high.

Secondly, the $MC token incorporates a meticulously crafted economic model designed to effectively mitigate the risks associated with a death spiral, thereby ensuring a consistent upward trajectory in token value. Now, let’s delve into a detailed explanation of Tap Fantasy’s token economic model:

A unique formula governs the calculation of $MC token output:

Daily Supply = Total Outflow * 80% / Vesting Days * Yield Rate

Every day, the quantity of $MC tokens generated within the game is derived by taking 80% of the cumulative MC consumption, dividing it by the number of Vesting Days, and then multiplying it by the Yield Rate. This calculation also includes a 10% token burn and an additional 10% reclaimed by the team. This strategic approach reduces the overall token output compared to token consumption, which in turn encourages an upward movement in the $MC token’s price.

Furthermore, each new season will establish a standardized $MC price. Should the actual token price exceed this established standard by 50%, supplementary $MC tokens will be gradually introduced to effectively regulate and stabilize the price. These additional tokens will be integrated into the LP, fostering a healthier gaming and economic ecosystem. This robust economic model effectively guards against the potential for a death spiral, ensuring that the $MC price remains steadfast and enabling us to break free from any downward trends.

As previously mentioned, the game has successfully navigated the challenges of bear markets, with the $MC price steadily increasing from its initial launch value of 0.5u to its current price of 0.64u. This accomplishment can be largely attributed to the innovative economic model in place.

Furthermore, we possess a substantial user base on BSC who are poised to transition to the Ton network once Tap Fantasy is launched on Ton.

Given the aforementioned reasons, we hold a strong sense of confidence in our ability to maintain the token price.

Another question about the token distribution, 800K initial market cap and 400K for IDO, how about the rest 400K?

Our IDO’s $MC allocation is 400k. The remaining 400k $MC will be paired with the $TON raised in the IDO to form trading pairs. Additionally, it’s important to note that there are no other investors holding $MC on the TON chain, and the team does not possess any $MC. All $MC tokens are generated within the in-game ecosystem. $MC holders need not be concerned about selling pressure, as the token’s economic model is sound and stable.