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We are delighted to announce the listing and support of ApeCoin (APE) on Tap!

APE is now available for trading on the Tap mobile app. You can now Buy, Sell, Trade or hold APE for any of the other asset supported on the platform without any pair boundaries. Tap is pair agnostic, meaning you can trade any asset for any other asset without having to worries if a "trading pair" is available.

We believe supporting APE will provide value to our users. We are looking forward to continue supporting new crypto projects with the aim of providing access to financial power and freedom for all.

ApeCoin is an ERC-20 utility and governance token used within the APE ecosystem. The founding roots of ApeCoin lie in the NFT series Bored Ape Yacht Club (BAYC), a creation by Web3 company Yuga Labs.

ApeCoin, the fungible token, and a number of products and services make up the ApeCoin ecosystem. The coin is governed by the ApeCoin DAO, of which all token holders are eligible to become members. The ApeCoin DAO makes decisions on matters such as governance rules, partnerships, projects, Ecosystem Fund allocations, and more.

ApeCoin grants holders access to exclusive games and services within the Ape Ecosystem and can be used for transaction purposes on the Otherside metaverse. It also acts as a tool in which third-party developers can tap into the Ape Ecosystem by incorporating APE into their own projects, games, and services.

Get to know more about ApeCoin (APE) in our dedicated article here.

One of the first stablecoins to come into existence, Dai was launched in 2017 and is maintained and regulated by MakerDAO. Using a series of smart contracts, Dai maintains a value of $1, or very close to it. Due to the coin’s soft peg to the US dollar, the Dai stablecoin not only provides a stable long-term store of value but also a strong medium of exchange. 

Let’s explore what Dai is and how it contributes to the crypto ecosystem. 

What Are Dai tokens?

Dai is an ERC-20-based stablecoin pegged to the US dollar. While more stablecoins hold the fiat currency to which they are pegged in reserves, the Dai stablecoin instead uses several cryptocurrencies to ensure it holds its peg. 

Supported cryptocurrencies include Ethereum (ETH), (BAT), USD Coin (USDC), Wrapped Bitcoin (wBTC), Compound (COMP), and many more. With a wide range of collateralized cryptocurrencies, user risk is decreased and Dai's price stability is increased.

Dai is issued and operated by the Maker Protocol and the MakerDAO (decentralized autonomous organization). Designed to provide a means of lending and borrowing crypto assets, the Dai stablecoin was at the forefront of the DeFi revolution. 

Holders of Dai can also earn interest. The platform also has another coin, MKR, which allows holders to set the Dai Savings Rate (DSR) and act as guarantors for Dai. This ensures that MKR tokens can be liquidated if the system fails. This structure motivates guarantors to ensure that the Dai system and its collateralized coins operate properly.

How do you generate Dai?

Users can generate Dai by paying collateral assets. Dai is created when users deposit ETH or any supported cryptocurrency as collateral. The equivalent amount of Dai is then issued and the user will receive Dai tokens.

If the Dai holders want the collateral assets back, the borrowed Dai can be paid back (plus a stability fee) and the collateral assets will be released. This Dai is then removed from circulation.

History of the Dai Stablecoin

The MakerDAO was first launched in 2015 by Rune Christensen and is the longest-running protocol on the Ethereum blockchain to date. It holds more than 2.3 million ETH in its protocol, approximately 2% of Ethereum’s total supply.

When first created, only Ether could be used as collateral, however, in 2019 more cryptocurrencies were added to this list. The Dai price has always been soft pegged to the US dollar.

How Does DAI Work?

The Dai cryptocurrency is an ERC-20 token that can be bought on both centralized and decentralized exchanges (DEXs). Users can also generate and borrow Dai by using MakerDAO's Oasis Borrow dashboard to establish a Maker collateral vault and put Ethereum-based assets in as collateral.

In its original use, the Maker protocol stored collateral in smart contracts known as maker collateral vaults. These smart contracts held collateral in escrow until the borrowed Dai was repaid, also known as collateralized debt positions (CDPs). The value of the security you send always exceeds the amount of DAI you receive otherwise the collateral will be liquidated. 

The Dai platform is one of the most integrated digital assets in the blockchain industry and can be utilized across decentralized finance (DeFi) applications and blockchain-based games, among other places.

The Advantages of DAI

No Minimum Amount Required

There is no minimum account balance required to use DAI, as there is with most other types of money. A lot of people around the world do not have the minimal amount of assets needed in order to qualify for a bank account, but there is no minimum balance requirement for utilizing DAI.

Price Stability

DAI can serve as a safe alternative store of money and access to financial inclusion for people who live in places where the economy is unstable.

Decentralized Financial Inclusion (smart contracts)

As DAI is a transparent and permissionless system, it allows users to have greater freedom over their money. Zimbabwe and Myanmar, for example, have been recognized as countries where people are limited in their ability to access fiat currency due to daily or monthly withdrawal restrictions on bank accounts imposed by the government.

Passive Income

Users can use DAI tokens to earn money through lockup and interest generation through the DAI Savings Rate system. Because DAI is based on the Ethereum blockchain, it doesn't have its own staking mechanism.

Owners of DAI tokens, on the other hand, may profit by putting DAI into a MakerDAO smart contract. This unique smart contract system protects the user's money and allows for immediate withdrawal.

Quick And Cost-Effective Transactions

In many cases, international wire transfer fees can be extremely high, and the time it takes to complete a transaction might be inconvenient. Global transactions between two users' wallets are made more transparent and efficient due to DAI's low transfer fees and quick processing times.

Operates 24/7

Traditional financial institutions operate only during "business" hours. As a result, transactions through such organizations may be delayed for days and will only finalize after banking institutions are open and transfers have been completed. Transactions can now be completed at any time of the year and on any day of the week using DAI and the Ethereum blockchain.

Continuously Vetted

The MakerDAO system has been found to conduct thorough checks and studies in order to guarantee the platform's security. Developers formally validate all smart contracts and core protocol elements that make up the system's internal architecture through mathematical analysis. Always DYOR (Do Your Own Research) and fully understand any DeFi protocol before using it.

A platform every sports fan needs to know about, Chiliz is the number one place to go for sports-related fan tokens. CHZ is the token behind the platform, and the platform is the gateway for fans to tap into unique experiences with their favorite sports team. 

What Is The Chiliz Network?

Chiliz is the company that owns Socios.com, CHZ is the token that fuels the platform. Through the Socios NFT marketplace, traders can buy their favorite fan tokens, using CHZ to facilitate all transactions. 

Built on Ethereum, Chiliz provides users with an opportunity to buy branded NFT tokens using the ERC-20 and BEP-20 CHZ tokens. Fans can also earn NFTs through contests or exchange them for team-specific merchandise and benefits. Some fan tokens reward fans with access to meet the players and vote on club decisions. The platform currently supports over 50 different sports and entertainment-specific fan tokens.

Leveraging blockchain technology, Socios directly engages fans with the team/entertainer, a step up from just watching games or buying team merchandise. Chiliz allows each team that partners with them to design unique experiences for their Fan Token holders. These Fans Tokens also give the holder sway over decisions usually left up to the team, like what songs play when a goal is scored, new uniform designs, and even which players start in some games.

Additionally, Chiliz helps sports franchises make money from fans in new ways, while providing unique experiences to their most loyal supporters.

Who Created The Chiliz Network?

Chiliz was founded in 2012 by Alexander Dreyfus, its acting CEO. The company falls under the Mediarex Group, an international sports and entertainment organization, and holds esteemed partners including Sam Li, former Vice President of the NBA, Nicolas Maurer, CEO of esports team Vitality, and Dr. DisRespect, one of the world’s largest video game streamers.

In 2018, the blockchain-based Socios platform was launched, alongside the CHZ token. Following funding of $66 million by Private Placement in 2019, the platform launched its website and app. Today, the company also has offices in France, Turkey, Spain, South Korea, and Brazil.

How Does The Chiliz Network Work?

The CHZ token can be used on both the Ethereum blockchain as an ERC20 token and on the Binance Smart Chain as a BEP2 token. Fans looking to engage on the platform can buy CHZ tokens from Chiliz.net, the platform's own exchange, or from other cryptocurrency platforms like Tap.

Users can then purchase Fan Tokens using CHZ from the Socios marketplace. The platform supports a wide range of sporting teams, from Formula 1 teams to FC Barcelona to Golden State Warriors basketball team. Each team that partners with the platform can dictate the fan tokens prices, distribution and supply as well as unique opportunities they wish to give to fans. Based on the token's performance, they can be burned in order to make a winning team's tokens more valuable. 

As an example of the privileges offered with fan tokens: for eight years, the Juventus soccer club played Chelsea Dagger in the stadium whenever the team scored a goal. Recently, however, fan token holders chose Blur's Song 2 as the new victory song, and Juventus made the switch. The more fan tokens one holds, the bigger their vote.

The blockchain network is built on Ethereum and uses a Socios sidechain to create and verify all fan tokens. This process utilizes the Proof of Authority (PoA) consensus mechanism which relies on a small group of authorized verifiers. This consensus model leans towards business structures looking to be scalable and efficient.

Chiliz is also partnered with the decentralized oracle network Chainlink, through which it creates unique non-fungible tokens (NFTs). These NFTs are used to celebrate special events such as championships or player milestones.

What Is CHZ?

CHZ is compatible with both the Ethereum and Binance Smart Chain platforms. The token is used as a medium of exchange on the Socios platform, allowing fans to buy Fan Tokens. 

There is a maximum supply of 8,888,888,888 CHZ in existence, and at the time of writing roughly 70% are in circulation. 

Where Can I Get CHZ?

Users can simply buy /sell CHZ through the Tap app, one of the most secure solutions in the crypto space. Using a range of cryptocurrencies and fiat currencies on offer, users can exchange any of the supported currencies to build a healthy portfolio that can be safely stored in the unique wallet linked to the account. Find links to download the app from the Tap website.

Aave is one of the leading decentralized finance (DeFi) protocols on the market, allowing users to easily borrow and lend over 20 different crypto assets. Leveraging the age-old financial practice of lending and borrowing, the platform empowers users to manage their assets in a decentralized manner.

The Aave token also allows users to vote on the platform’s direction and future Aave protocol developments. Aave token holders are granted voting rights based on their holdings.

What is Aave?

Created in response to the rising demand for decentralized money markets, Aave has successfully and firmly positioned itself in the top 10 biggest DeFi markets. Based on the Ethereum blockchain, the protocol allows users to lend and borrow a wide range of cryptocurrencies, from altcoins to stablecoins.

Native to the platform, the AAVE token acts as both a utility token, providing discounts for fees, and a governance token.

By placing digital assets into specific liquidity pools within the Aave protocol, lenders earn interest. Those who need money can use crypto as collateral to take out a flash loan from these same pools.

The decentralized lending protocol was launched in November 2018 under the name ETHLend (with LEND tokens) but later underwent a rebranding after losing traction in the 2018 crypto bear market. After revamping the concept of decentralized crypto lending, the Aave team relaunched the protocol under the name Aave. Aave means ghost in Finnish.

Who created Aave?

Aave was created by Stani Kulechov and a team of developers. Stani Kulechov was disappointed with the lack of lending applications available on Ethereum, so he and a team of developers took it upon themselves to create a space to lend and borrow cryptocurrencies. This project occurred before decentralized finance was even an idea, and launched following an ICO in November 2017.

Kulechov is a self-taught programmer who went to law school after high school and began programming in his teenage years. He is also an early blockchain adopter. The CEO announced that he intended to rebrand ETHLend as Aave in order to provide additional services beyond just ETH lending, incorporating the greater crypto assets market.

How does Aave work for Aave users?

The Aave protocol uses an algorithm that automatically enables loans from the platform's liquidity pools, instead of individually matching each lender to a borrower. On the Aave network, lenders can deposit their cryptocurrency into liquidity pools and in turn earn interest based on the amount deposited.

These interest rates are then paid to the lenders depending on the number of assets being used in the pool. For instance, if all the assets are being utilized, the interest rates are higher as this will provide greater incentive to lenders and more deposit options for Aave borrowers. If utilization is low, the interest rates are lower, attracting more borrowers. Borrowers and lenders are mutually dependent.

Aave loans require users to make a deposit in the form of collateral that is higher in value than the amount they are borrowing. If borrowed assets are not returned within the given timeframe, lenders will take possession of the collateral.

Aave employs a liquidation procedure in the event that the collateral value falls below the collateralization rate established and determined by the Aave protocol. Flash loans are also available, allowing borrowers to borrow money without putting up any assets as long as they pay for the interest fee known as one-block.

What are AAVE tokens?

AAVE is an ERC-20 token that acts as a backstop for the Aave protocol, protecting the system from having a shortage of capital. Known as the "Safety Module", AAVE is sold for assets to cover the deficit if there isn't enough cash in the DeFi protocol to cover lenders' money. Only AAVE deposited in the module will be liquidated. To encourage deposits, a regular yield is paid out in AAVE.

The second major application for Aave is protocol governance. Holders of the cryptocurrency can discuss and vote on Aave Improvement Proposals, which may be implemented if accepted by a specified number of AAVE token holders. This covers altering the money market parameters as well as managing funds in the ecosystem reserve, similar to other governance cryptocurrencies. Each AAVE equals one voting right for Aave holders.

The Aave system uses fees paid on the platform to buy back AAVE tokens and remove them from circulation. Approximately 80% of the fees paid are used for this burn purpose, while 20% are used to incentivize lenders. Aave has a limited supply of 16 million units.

How can I buy the AAVE token?

For those looking to enter the world of DeFi and incorporate Aave into their crypto portfolios, things just got a lot easier. The Tap app has recently added AAVE to the list of supported currencies, allowing anyone with a Tap account to quickly and conveniently buy Aave.

Users can buy / sell AAVE by using balances in either their crypto or fiat wallets or can buy the cryptocurrency with traditional payment options like bank transfers. Through the integrated wallets on the platform, users can also store and manage their AAVE holdings easily and conveniently.

Gnosis is spearheading the merger of prediction markets with digital assets, enabling the market to take on a more decentralised approach. Prediction markets allow investors to trade on the outcome of events, similar to how they would exchange digital assets. 

What is Gnosis?

Gnosis is a prediction market platform built on the Ethereum blockchain. The platform allows users to trade crypto assets representing event outcomes from around the world, from sports matches to elections. As the results unfold, Gnosis tokens either increase or decrease in value depending on what was predicted by the user. 

The goal at Gnosis is to build a foundation that decentralised applications can use as forecasting tools. This is done by allowing any party access to create their own markets while also gathering public opinion from an uncensored source. The long-term aim is to build a dependable forecasting tool that could help those in finance, business, insurance, and other sectors make more informed decisions.

The platform is made up of three sectors, the Apollo network, Gnosis Safe and DutchX, outlined below. Gnosis also makes use of two cryptocurrencies, GNO and OWL, to ensure their transactions are secure and running smoothly. Even though they're making good progress, they still have a way to go before reaching all their goals, notwithstanding competitors like Augur (REP) that offer similar services.

Who created Gnosis?

The Gnosis prediction market was founded by Martin Koeppelmann and Stefan George in 2015. No stranger to prediction market platforms, George previously founded fairlay.com, a centralised Bitcoin prediction market. The Gnosis platform was one of the first projects backed by the Ethereum-focused incubator, ConsenSys, and has grown into a 50+ team with its main development hub based in Berlin. 

In terms of raising funds, the project successfully underwent an ICO (initial coin offering) in 2017, raising 250,000 ETH (around $12.5 million at the time). In just 15 minutes, the project sold 4% of its GNO supply. 

A few months later, the Gnosis team launched Olympic, a test version of the prediction market platform. The next year, it launched Apollo, version 1.0 of Gnosis alongside DutchX, a decentralised exchange designed to trade and manage digital assets. Toward the end of 2018, the Gnosis ecosystem launched the Gnosis Safe, the platform's integrated wallet. 

How does the Gnosis protocol work?

To ensure a comprehensive experience for all users, Gnosis employs three interoperable product lines and utilises three main products. Entirely built on the Ethereum platform, the three layers to Gnosis' architecture consist of:

• The Core Layer

Provides the foundational smart contracts that power the events, settlements, market mechanisms, and outcome tokens.

• The Service Layer

Offers resources for consumer applications and is used for tools like chatbots, stablecoins, and payment processor integration. It also controls the trading fee model.

• The Applications Layer

Contains the prediction market dapps. The majority of the dapps in this layer were created by third parties who charge users to use them, with Gnosis only building a few themselves.

The three platforms that make up the network are the Apollo Network, Gnosis Safe and DutchX, as outlined below. 

The Apollo Network (Gnosis prediction market)

The Apollo Network, Gnosis' prediction market platform allows users to create their own markets for any events and tokens. Users can then speculate on the outcome by buying and selling positions.

As the outcome approaches, the tokens will increase or decrease in value, and once the event is finalised the tokens representing the final outcome will receive the full value while the others become worthless. 

DutchX (exchange)

DutchX is the platform's decentralised exchange where users can trade and auction off their tokens.

Gnosis Safe (wallet)

Gnosis Safe is a browser and crypto wallet that interacts with Ethereum apps. 

What are the Gnosis digital assets?

GNO Token

Gnosis' native cryptocurrency is GNO, an Ethereum-based token that was sold during the Gnosis ICO. GNO tokens have a maximum supply of 3 million tokens. 

The main use case of GNO tokens is for creating OWL tokens via staking to earn rewards. Users can lock GNO tokens in the Gnosis chain to generate OWL tokens through staking, which is dependent on the length of the staking period. The max time is one year.

OWL Token

OWL tokens on the other hand are used to pay fees on the prediction market platform. These tokens are pegged to the US dollar, with their distribution maintaining its peg. OWL tokens were previously called WIZ tokens before being rebranded at the same time as the website.

Users can also opt to pay fees using supported Ethereum tokens. All fees not paid for in OWL are collected and sold for GNO, then burned. 

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MKR, the governance token fueling the network, comes from the same platform that created DAI, the algorithmic stablecoin soft-pegged to the US dollar. MKR serves both the decentralized autonomous organization, MakerDAO, and the software platform, Maker Protocol, both built on the Ethereum blockchain. These two platforms generate DAI and allow users to issue and manage the DAI stablecoin. 

What is Maker (MKR)?

Developed in 2015 and officially launched in December 2017, Maker is a revolutionary project that was built to host and generate DAI, a community-managed cryptocurrency that has its value soft pegged to the US dollar. The MakerDAO forms part of the larger Maker Protocol which allows DAI to maintain its value and operate without the need for a third party. The Maker Protocol requires both tokens to operate: DAI and MKR. 

To understand MKR, one must first be familiar with the DAI stablecoin. DAI serves as a loan option for borrowers, with the platform allowing users to take out a loan in DAI tokens by locking another cryptocurrency, such as ETH. When the borrower pays back the DAI that was borrowed, they are able to reclaim the collateral used for their loan. However, if its value drops below a predefined level it could automatically be sold off.

The Maker ecosystem is one of the first DeFi projects to enter the market, years before the movement took off. The DeFi sector revolves around providing decentralized financial products powered by smart contracts to the masses. 

Though the DAI stablecoin is best known as a service offered by the Maker Protocol, the MKR token is actually the crypto asset that secures changes to maintain its functioning. The governance token MKR gives holders voting rights over the Maker Protocol's development, such as what cryptocurrencies can be accepted as collateral and the price at which these assets will be sold if liquidation is to occur. The MKR price appreciates in value based on the success of DAI. 

The Maker protocol accepts a range of cryptocurrencies, including ETH, MANA, and BAT, as collateral.

Who created the Maker platform?

Established in 2015, the Maker Protocol was developed by a team of tech-savvy developers spearheaded by Rune Christensen. As time progressed, this collective eventually organized and formed into an official entity known as the Maker Foundation, a corporation located in the Cayman Islands.

In 2017, the Maker team raised a remarkable $12 million in funding by selling MKR tokens to some of the most influential venture capital firms at the time including Andreessen Horowitz, Polychain Capital, and 1Confirmation. A year later, another $15 million worth of MKR tokens were bought by Andreessen Horowitz, who expressed the intention to help govern the DAI system by participating in the MakerDAO. 

In 2019, the project raised another $27.5 million from venture firms Paradigm and Dragonfly Capital Partners for expansion to Asia. 

How does the Maker Protocol work?

When the Maker Protocol launched, 1 million MKR tokens were created. These tokens gave holders voting rights on key decisions through a process called Executive Voting.

First, the sentiment of MKR holders is measured on a new proposal through Proposal Polling before committing any changes to the software. The Executive Vote then takes place, and once the highest amount of MKR token holders commits to a proposal and the vote is passed, the winning proposal is implemented into the Maker Protocol. The number of tokens holds more president than the number of token holders, i.e. 10 holders with 1,000 tokens each will outvote 100 token holders with 50 tokens each. 

Non-MKR holders also have the opportunity to participate in the vote via threads in the MakerDAO forum however the MKR holders have the final say.

DAI Savings Rate

MKR holders also have a say in how much DAI holders can earn if they save DAI tokens on the platform, known as the DAI Savings Rate. In previous years this amount has varied between 0% and 8.75%. Following the recent market crash, MKR holders voted to make the DAI Savings Rate zero to encourage holders to sell their DAI and bring the price back into equilibrium.

When the DAI price drops below $1, MKR holders can vote to raise the DAI Savings Rate to encourage more users to hold DAI which increases the price.

What is MKR?

MKR is an ERC-20 token and acts as a governance and utility token to the Maker Protocol with no fixed supply. The token gains value as the use of the Maker Protocol increases as the supply is reduced when the Protocol is working effectively and increased when governed poorly. MKR tokens are created or destroyed through surplus auctions and debt auctions.

Surplus Auctions

The Maker system holds a Surplus Auction when the fees collected exceed an amount decided by MKR holders. DAI that surpasses this threshold must be purchased with MKR in order to settle the auction. This MKR is then destroyed reducing the total supply and thus increasing the token price.

Debt Auctions

Conversely, if the Maker system is underperforming its locked coins are sold for a lower value than before, causing it to raise capital via a Debt Auction. Through this process, new MKR tokens are created and auctioned for DAI. This in turn increases the MKR tokens and reduces the price. 

In this light, MKR holders are incentivized to keep the platform performing optimally in order for it to generate more fees and thereby reduce the MKR supply.

How can I buy Maker (MKR) tokens?

Anyone looking to add Maker MKR tokens to their crypto portfolio can securely purchase Maker tokens through the Tap app. The mobile app allows anyone with an account to conveniently and safely purchase cryptocurrencies through an effortless trading experience. 

Users can buy /sell Maker MKR tokens using both crypto or fiat currencies, and safely store the tokens in the unique crypto wallet integrated into the app. Download the Tap app today to tap into the Maker ecosystem today.