• News
    • Bitcoin
    • Altcoins
    • Blockchain
    • DeFi
    • Regulation
    • Scams
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Videos
  • Blogs
  • Market Cap
  • Shop
What's Hot

What Is a DEX? How DEXs Work and Why They Matter

2025-05-21

What Is Blockchain? Blockchain Technology Explained for Beginners

2025-05-21

ALL IN! 10X Bitcoin leverage RIGHT NOW!!

2025-05-19

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

Facebook Twitter Instagram
Crypto Investor News Network
  • News
    • Bitcoin
    • Altcoins
    • Blockchain
    • DeFi
    • Regulation
    • Scams
  • NFT

    All Eyes on Art: Upcoming Collections to Watch the Week of February 4

    2025-02-05

    Creator of rabbit AI assistant has hidden NFT past

    2024-05-02

    Ethereum tops daily NFT sales at US$7 mln, ends weakest month of 2024

    2024-05-02

    Top NFT Airdrops and Giveaways for May 2024

    2024-05-02

    Casio Launches NFT Collection Celebrating 50th Anniversary

    2024-05-01
  • Metaverse

    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

    2025-01-03

    Experience to Earn: Everdome’s Metaverse Frontier

    2024-12-30

    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

    2024-12-13

    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

    2024-10-28

    Council of Europe Highlights Metaverse’s Impact on Privacy and Democracy

    2024-09-05
  • Analysis

    Crypto Exchange Coinbase Lists New DeFi Altcoin Project Built on Base Blockchain

    2023-12-13

    Ethereum Price Bears Keep Pushing, Why Decline Isn’t Over Yet

    2023-12-13

    Trader Bullish on Cosmos (ATOM), Says One Dogecoin Rival Setting Up for Next Leg Up – Here’s His Outlook

    2023-12-13

    AVAX Price Pumps 50% and Dumps 15%, Why Uptrend Is Still Strong

    2023-12-13

    Top Trader Predicts Parabolic Rally for Solana Competitor – Here’s His Upside Target

    2023-12-13
  • Learn

    What Is a DEX? How DEXs Work and Why They Matter

    2025-05-21

    What Is Blockchain? Blockchain Technology Explained for Beginners

    2025-05-21

    A Beginner’s Guide to Crypto

    2025-05-15

    10 Years of Steadfast Support and Compliance

    2025-05-15

    What Is Proof-of-Work (PoW) in Blockchain? A Beginner-Friendly Guide

    2025-05-12
  • Videos

    ALL IN! 10X Bitcoin leverage RIGHT NOW!!

    2025-05-19

    Bitcoin: Buy Now, 10X Leverage!!!!!

    2025-05-19

    Bitcoin’s Highest Weekly Close Signals Bigger Moves Ahead

    2025-05-19

    Bitcoin ATH Countdown: Record Price Breakout Imminent

    2025-05-18

    If You’re Allocated Right — The Future Is Bright 💸🚀

    2025-05-18
  • Blogs
  • Market Cap
  • Shop
Facebook Twitter Instagram TikTok
Crypto Investor News Network
Home»DeFi»Tap Protocol secures $4.2M for Bitcoin OrdFi innovation and expansion through Ordinals
DeFi

Tap Protocol secures $4.2M for Bitcoin OrdFi innovation and expansion through Ordinals

2023-12-16No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email

Tap Protocol has completed a $4.2 million funding round led by Sora Ventures to enhance its role in the Bitcoin ecosystem. This investment, featuring contributions from numerous venture capital firms and angel investors, equips Trac Systems, the German company behind Tap Protocol, for significant growth.

The funding round attracted notable venture capital firms, including Cypher Capital, Rw3, Oak Grove Capital, Petrock Capital, Kosmos Ventures, New Tribe Capital, Cogitent Ventures, Compute Ventures, and MSA Novo. This financial support was further bolstered by angel investments from Animoca Brands and Quantstamp executives.

Jason Fang, Founder and Managing Partner at Sora Ventures, highlighted Tap Protocol’s vital role in the Bitcoin community, especially in fostering adoption. His optimism reflects a growing belief in Bitcoin’s transformative potential and its associated projects.

“Tap Protocol is one of the leading developer communities building on Bitcoin. With the support of the round, we are excited to see how the team can help scale the future of Bitcoin adoption”

Post-fundraising, Trac Systems is gearing up to expand its operations, focusing on hiring skilled developers to advance the Bitcoin Ordinals-based protocol. Tap Protocol has been a key player in the Bitcoin network, offering a range of functionalities, including the fractionalization of Ordinals art and enabling decentralized finance applications on Ordinals. The protocol’s design, accommodating various gaming applications and featuring token redemption and multisend capabilities, highlights its versatility.

Pseudonymous Benny the Dev, CEO of Trac Systems, conveyed his excitement about the fundraising success. He emphasized the company’s readiness to innovate within the Bitcoin platform, using Trac Core and TAP Protocol to explore new possibilities in tokenization, gamification, and decentralized finance.

See also  DeFi Is Losing the Race to Become the Future of Finance

TAP protocol and OrdFi

The TAP Protocol is designed to find and track Ordinals, facilitating OrdFi applications without complex Layer 2 chains. Introducing the TAP token standard, this protocol emphasizes simplicity and accessibility. Its key mechanism, “tapping,” streamlines transaction verification within the protocol. The TAP website states,

“Trac’s decentralized API enables developers to create new things for the Ordinals space. We already did the heavy index-lifting and track everything under the sun.”

Drawing from the foundational principles of BRC-20, a Bitcoin token standard, TAP sets itself apart through its decentralized nature, enabling continuous improvements and feature integrations led by its community. To facilitate future connectivity with BRC-20 tokens, TAP has reserved specific ticker lengths of 1, 2, and 4 characters.”

Building on the foundation of BRC-20, TAP distinguishes itself by its independence from centralized entities, allowing for ongoing community-led enhancements and feature integrations. TAP reserves specific ticker lengths (1, 2, and 4 characters) to enable future interconnectivity between BRC-20 and TAP tokens.

Externally, TAP mirrors BRC-20, reportedly ensuring easy integration with existing marketplaces and wallets. This allows TAP tokens to be traded similarly to BRC-20 tokens. Internally, TAP offers unique functionalities like token staking, swaps, and a mass-sending feature. The community, using $TRAC tokens, governs these capabilities.

Among its features, TAP includes Token-Send for efficient mass transfers, Token-Trade for simplified text-inscription-based trading, and Token-Auth for third-party issuance of signed redeem inscriptions, which TAP states are helpful in gamification and cross-chain marketplaces.

The TAP Protocol represents the ongoing advancement in Bitcoin Ordinals. It caters to external marketplaces and internal users and promises a versatile and community-driven future in Bitcoin-based token operations and emerging dApps.

See also  Avoid A Bitcoin Fee NIGHTMARE - UTXO Consolidation Tutorial

Transparency Disclaimer: Sora Ventures is an investor in Crypto.

4.2M Bitcoin Expansion innovation OrdFi Ordinals Protocol secures Tap
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

ALL IN! 10X Bitcoin leverage RIGHT NOW!!

2025-05-19

Bitcoin: Buy Now, 10X Leverage!!!!!

2025-05-19

Bitcoin ATH Countdown: Record Price Breakout Imminent

2025-05-18

They Want To Make Sure NO Bitcoin Is Left For You

2025-05-17
Add A Comment

Leave A Reply Cancel Reply

Top Posts
Blockchain

JPMorgan’s JPM Coin to Make Its Debut on Interbank Transactions

2023-12-04

Jpm coin, JPMorgan’s official token, might be used to make interbank transactions now that it…

Blockchain

North American blockchain gaming market set to reach $600b by 2030

2023-12-11

The global blockchain gaming market is expected to surge to $614 billion by 2030, driven…

Bitcoin

Bitcoin: Network fees fall 30% in 7 days, but miners aren’t panicking yet

2024-02-05

There was a significant reduction in Bitcoin’s transaction count in the last seven days. The…

Subscribe to Updates

Get the latest news and Update from CINN about Crypto, Metaverse and NFT.

Editors Picks

What Is a DEX? How DEXs Work and Why They Matter

2025-05-21

What Is Blockchain? Blockchain Technology Explained for Beginners

2025-05-21

ALL IN! 10X Bitcoin leverage RIGHT NOW!!

2025-05-19

Bitcoin: Buy Now, 10X Leverage!!!!!

2025-05-19
Crypto Investor News Network
Facebook Twitter Instagram TikTok
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Disclouser
© 2025 - All rights are reserved.

Type above and press Enter to search. Press Esc to cancel.

bitcoin
Bitcoin (BTC) $ 111,421.85
ethereum
Ethereum (ETH) $ 2,622.78
tether
Tether (USDT) $ 1.00
xrp
XRP (XRP) $ 2.42
bnb
BNB (BNB) $ 687.44
solana
Solana (SOL) $ 176.38
usd-coin
USDC (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.241114
cardano
Cardano (ADA) $ 0.790012
tron
TRON (TRX) $ 0.270984
bitcoin
Bitcoin (BTC) $ 111,421.85
ethereum
Ethereum (ETH) $ 2,622.78
tether
Tether (USDT) $ 1.00
xrp
XRP (XRP) $ 2.42
bnb
BNB (BNB) $ 687.44
solana
Solana (SOL) $ 176.38
usd-coin
USDC (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.241114
cardano
Cardano (ADA) $ 0.790012
tron
TRON (TRX) $ 0.270984