On the 24th of March, Traverse publicly declared that $TRVS will be transformed from BRC20 to TAP, with the TAP token snapshot slated for the 4th of April.
The users were instructed to hold on to the $TRVS tokens as per the snapshot date, on which TAP tokens will be airdropped. In the meantime, the $TRVS is to be held in the wallet of choice or the Traverse vaults. They will be allowed to participate in the TAP token airdrop.
Following a period of fewer than twenty four hours, about the snapshot date on the 5th of March, will begin the airdrop.
After the snapshot, the $TRVS will cease to exist in the Traverse ecosystem. Users again have been instructed to refrain from buying $TRVS from OKX, UniSat, or anywhere else following the snapshot schedule. The team members of Traverse are thoroughly involved in deregistering %TRVS from UniSat, as well as OKX, after finishing the snapshot on the 4th of April.
The trading of Traverse’s TAP token will be under the moniker $traverse and will be duly registered, and trading will take place on SatsXio and Ordinals Wallets on the 5th of April.
Presently, registering TAP tokens has the backing of Poloniex and SuperEx, along with more centralized exchanges scouring avenues for backing TAP tokens.
Currently, the supply of $TRVS is 100B, with Traverse’s supply dwindling to 1B. The team will be locking Traverse’s tokens, with their tokens being utilized for various platform and ecosystem enhancements, as well as CEX registration fees and associate incentives.
Traverse vaults will be backing TAP and DMT assets soon. Holders of $traverse will be connected with their tokens within their Traverse vaults.
Traverse intends to host a space on X, after completing $traverse’s airdrop on the 5th of April.