The Telegram Open Network (TON) has experienced significant growth over the past year, emerging as one of the largest projects in the cryptocurrency industry by market capitalization. This surge can be attributed to its vibrant ecosystem, attracting more developers and users to the TON blockchain.
Notcoin (NOT) exemplifies this trend. Let’s explore why.
What is Notcoin (NOT)?
NOT began as a viral game on Telegram, designed to introduce users to the Web3 space on the TON blockchain. The project’s official website is notably minimalistic, featuring only a prompt to join its Telegram community, alongside links to its social media accounts and whitepaper.
Interestingly, Notcoin’s whitepaper is quite unconventional. Typically, a whitepaper is a comprehensive document outlining a project’s technical architecture, team background, and future plans. However, Notcoin’s whitepaper is literally a blank slate—nine pages long, with only the title “Notcoin Whitepaper November 2023” on the first page, and the remaining pages are blank.
The “Tap-to-Earn” Mechanic
Notcoin has introduced a unique “tap-to-earn” mining mechanic, positioning itself largely as a community-driven token. Users can earn NOT by:
- Discovering Web3 products
- Participating in various games
- Adding value to the ecosystem
Web3 developers can also present their products to the community through Notcoin campaigns.
Notcoin Explore
In May, the team released an update introducing Notcoin Explore. This feature, in addition to the beta version of their clicking game, allows users to discover new Web3 products and earn NOT in the process. The process works as follows: new Web3 projects purchase NOT from the market and add it to the campaign pool, which then rewards community members who engage with these projects.
Growing Popularity
Notcoin has become a viral sensation, boasting nearly 7 million members in its Telegram group and almost 2 million followers on X (formerly Twitter). The team has announced plans to begin burning tokens from the total supply once the project launches on-chain.
A Different Approach to Tokenomics
Unlike many projects that use a vesting schedule to prevent excessive selling pressure on the initial listing day, Notcoin has opted for a different strategy. It will unlock 100% of its supply on day one. However, this doesn’t mean that all tokens will be available for trading immediately. The distribution includes airdrops for miners, which may not be fully claimed initially.
The total supply of Notcoin is 102,719,221,714 NOT tokens, distributed as follows:
- Binance Launchpool: 3%
- Miners: 78%
- Ecosystem Fund: 9%
- Community Incentives: 5%
- Development: 5%
Summary Review: Notcoin’s unique approach and rapid growth reflect the dynamism of the TON ecosystem. Its innovative tokenomics and community-driven model highlight how new projects can leverage viral mechanisms and user engagement to gain traction in the competitive cryptocurrency landscape. As Notcoin continues to evolve, it will be interesting to see how it influences the broader adoption and development of Web3 technologies.
Disclaimer: Remember that nothing in this article and everything under the responsibility of Web30 News should be interpreted as financial advice. The information provided is for entertainment and educational purposes only. Investing in cryptocurrency involves inherent risks and potential investors should be aware that capital is at risk and returns are never guaranteed. It is imperative that you conduct thorough research and consult with a qualified financial advisor before making any investment decision.
