What Is Notcoin? Exploring 2024's Biggest Gaming Token Debut
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What Is Notcoin? Exploring 2024's Biggest Gaming Token Debut

1mo ago

It started as a free mobile game - then became the biggest gaming token debut of the year.

What Is Notcoin? Exploring 2024's Biggest Gaming Token Debut

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In crypto, there is arguably no messaging application more ubiquitous than Telegram. Telegram’s widespread usage in the crypto industry, its user base of close to one billion users, and its very own L1 blockchain, the TON blockchain, have made Telegram the perfect place to launch a simple, retail-focused game for the masses.

And that is exactly what Notcoin did.

What is Notcoin?

Here are the paragraphs with the game ending on April 1st as a separate sentence:

Notcoin is a simple, free-to-play game based on Telegram, where users can launch the game from a simple Telegram bot.

With a simple design and free-to-play nature, the game quickly amassed millions of users, with 35 million total users having onboarded onto the game and more than six million daily active users (DAUs) at its peak.

Its premise was simple, featuring a coin in the middle of the screen, where users earned points, known as Notcoins, by tapping on the screen. The value was initially set to one Notcoin earned per tap. The game ended its mining phase on April 1.

Source: Gameration Medium (link)

Notcoin Boosts

Users could purchase Boosts with Notcoins to accelerate their earning potential. These Boosts offered advantages like increased total energy capacity, faster energy recovery rates, higher Notcoin rewards per tap, and even an auto-tapper that could tap for a maximum of 12 hours.

Additionally, limited free daily Boosts helped users maximize their Notcoin earnings. The Turbo Boost significantly amplified Notcoin rewards per tap for a short duration, while the Full Energy Boost replenished users' energy bars to full capacity, allowing them to start tapping again immediately.

Source: Gameration Medium (link)
The game served as a mining phase for the Notcoin token, NOT, a token on the TON blockchain. The concept was to create a fair distribution method where all users had equal opportunity to earn Notcoins.

Notcoin Earn

Apart from tapping, users could acquire Notcoins through various means, including simple milestones like earning the first 1,000 Notcoins or meeting referral targets. Other methods involved completing time-sensitive tasks related to interactions with partner projects and the TON ecosystem.

Referrals played a pivotal role in Notcoin's popularity. Both referrers and referees earned bonus Notcoins, with referrers receiving more rewards as their referees earned more Notcoins. Referrals were closely tied to Squads, which allowed friends to form communities within the app. These Squads competed against each other for the top position on the Notcoin leaderboard, adding an extra layer of fun and competition to the game.

Source: Gameration Medium (link)

Notcoin Pre-Market Vouchers

Before announcing the NOT token and its airdrop, the Notcoin team enabled pre-market trading of the token through NOT token vouchers. These vouchers were traded on the GetGems NFT marketplace, built on the TON blockchain, using the native TON cryptocurrency. Upon the token generation event (TGE), these vouchers would become redeemable for actual NOT tokens. Thus, the vouchers allowed users to speculate on the eventual valuation of the Notcoin token before its official launch.

Source: GetGems

Notcoin Airdrop and Tokenomics

The Notcoin mining phase ended on April 1st, temporarily concluding the game while recording all accounts' Notcoin balances. During the mining phase, users made over 8.888 trillion taps and spent more than 17 trillion Notcoins within the game.

Players detected using external bots or scripts to tap programmatically were penalized by losing their entire NOT token allocation. Users who did not refer others or participate in Notcoin's organized campaigns were also penalized.

Notcoin has announced an upcoming conversion of in-game Notcoins to the NOT token, a cryptocurrency on the TON blockchain. The conversion rate was set at 1000:1, meaning 1,000 in-game Notcoins would convert to 1 NOT token, claimable upon the token generation event (TGE).

The NOT token has a maximum supply of 102,719,221,714 tokens, allocated in two segments. The first segment of 78% will go to NOT tokens miners and NOT voucher holders. The remaining 22% is reserved for new users after the mining phase, exchange listings, and future ecosystem development.

Source: Notcoin Twitter

Unlike most projects, Notcoin has no investors, eliminating the need for a vesting schedule. This makes the NOT token launch as fair as possible, with 100% of the token supply available during the token generation event (TGE). The actual circulating amount will depend on the percentage of claimants redeeming their NOT token airdrop or NOT vouchers.

Binance Launchpool and Token Launch

Binance announced the NOT token's launchpool on May 9th, marking the 54th launchpool project. Users staked BNB or FDUSD in separate pools for three days to farm NOT tokens. The NOT token went live for trading on the Binance exchange on May 16.
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