What is Notcoin (NOT)? The Viral Token Coming to Telegram Open Network

5 months ago 44

The Telegram Open Network (TON) has been booming throughout the past year, becoming one of the largest projects in the industry by means of total market capitalization.

This has been attributed to its bustling ecosystem, with more developers and users turning their attention to the TON blockchain.

Notcoin is a project that’s the existing proof of the above. Let’s see why.

What is Notcoin (NOT)?

NOT started out as a viral Telegram game that was designed to onboard users into the realm of Web3 on the TON blockchain.

It takes a very interesting approach because the project’s official website only contains a prompt to join a Telegram community, as well as links to its social media accounts and whitepaper.

Normally, a project’s whitepaper is the most fundamental document presented to the community and potential investors. It contains all the information about the project, including technical architecture, parameters, background on team members, plans, and whatnot.

Notcoin’s Whitepaper is literally … a white paper – it contains 9 pages, the first one titled “Notcoin Whitepaper November 2023,” and the remaining eight are … well, blank white sheets with nothing written on them.

The project has introduced the so-called “tap-to-earn” mining mechanic, and it appears that NOT itself is widely a community token, where users are able to earn it through:

Discovering Web3 Products
Participating in various games
Adding value to the ecosystem
Web3 developers can offer their products to the community through Notcoin campaigns.

Earlier in May, the team released another update on a feature called Notcoin Explore. In addition to the beta version of their clicking game, Notcoin Explore adds something “more advanced” to the project. It essentially allows users to explore new Web3 products and earn NOT in the process.

The process is twofold: The new Web3 projects will acquire NOT from the market and add it to the campaign pool, which will then reward NOT community members who interact.

In any case, Notcoin has grown into a viral cryptocurrency, hosting almost 7 million people in its Telegram group and almost 2 million on X.

The team has also stated that they will begin burning tokens from the total supply once the project goes live on-chain.

A Different Approach to Tokenomics

Many projects come up with some sort of a vesting schedule for their total supply with the aim to prevent excessive selling pressure on the day of the initial listing.

True to its mysterious nature, Notcoin has taken a different approach, pushing 100% of the supply to be unlocked on day one.

Now, it’s important to note that this doesn’t mean that 100% of the tokens will enter trading right off the bat. The distribution of the tokens also includes airdrops that belong to miners. These may not be fully claimed.

In essence, the total supply is 102,719,221,714 NOT tokens, and the distribution looks like this:

Binance Launchpool: 3% of Supply

Miners: 78% of supply

Ecosystem Fund: 9% of supply

Community Incentives: 5% of supply

Development: 5% of supply

We won’t publish the release schedule because… well, all of it will be released at once.

Participating in the Binance Launchpool

As you can see, 3% of the total supply is reserved for participants in the Binance Launchpool.

Participating in it is extremely easy. You will need a Binance account. If you don’t have one, make sure to register using this link.

From there, navigate to the top menu and hit “More.” You will see a dropdown: select the Launchpad & Launchpool option.

Once you are in the Launchpool, the Notcoin project will appear on top. You have to select the pool that you want to participate in – either FDUSD or BNB. We’ve chosen FDUSD.

Here, you will be able to see all the details about the Launchpool. This includes the farming period, the total number of tokens staked, maximum hourly rewards, as well as how many people have joined and what is your current stake:

To start farming the Launchpool, just hit “stake,” input the amount that you want to commit (you can withdraw instantly at any time) and confirm the action.