Exploring the Notcoin Project: A Comprehensive Guide

What is Notcoin? Ideology and mission of the project

The Open Network (TON) blockchain is gaining popularity within the market as more and more diverse games, platforms, and applications emerge on its platform. Notcoin, the most renowned project in this ecosystem, has garnered millions of Telegram users due to its unique mechanics, setting it apart from other Play-to-Earn products. A comprehensive review of the Notcoin cryptocurrency will provide readers with a detailed understanding of the blockchain game on TON, including insights on how to initiate coin mining and the anticipated listing timeframe for this digital asset.

Simplified explanation of Notcoin:

Originally a free mini-application within the Telegram messenger, Notcoin is a clicker game. Its primary objective is to enable users to “mine” the NOT cryptocurrency through a straightforward mechanism. Participants need only click on the animated coin within the bot.

You might say, “And what’s new and surprising about that? Didn’t everyone ‘tap’ oil in their childhood?” The surprising aspect here (for users unfamiliar with cryptocurrencies) is that these coins can later be converted into project tokens that hold real value.

Notcoin (NOT) History:

The gaming project was launched on the beta version of The Open Network blockchain in November 2023. Within a short span, Notcoin attracted over 650,000 users. The official project launch occurred on January 1, 2024, and within the first week, the game captivated more than 5 million participants. By January 26, the user count surged to 20 million.

In total, approximately 37 trillion in-game tokens were “mined,” although they currently lack real-world worth. Notcoin’s popularity stems from its straightforward mechanics, a referral program, and the ability to mine the cryptocurrency.

Open Builders, an organization funding projects on the TON blockchain, is responsible for developing the game. The Notcoin team positions it as a meme coin without a specific objective, apart from spreading among users. The project is additionally supported by the TON Foundation. The recent integration of Notcoin with Telegram Wallet underscores the link between the messenger’s developers and the game.

Cryptocurrency Features:

The project lacks a website or roadmap. The official Whitepaper, published in November 2023, consists of nine empty pages. The game encompasses the following features:

No investment required: Notcoin can be launched by any user, even those unfamiliar with cryptocurrencies.
Interactive coin mining: Participants “mine” tokens by clicking a button in the Telegram bot. Boosts and other bonuses have been incorporated to make the process engaging and accessible to a wide audience.

During the time of writing this article, the project’s currency had not yet been launched on the blockchain and existed solely as an in-game asset. However, it is highly likely that in the near future, the token will have its smart contract deployed and will be listed on major exchanges.

As the token has not been released yet, important details such as its real value, maximum supply, and other related data remain unknown. According to available information, the cryptocurrency will be introduced on the TON blockchain, with a portion of the supply allocated for distribution to active players.

The primary feature of this cryptocurrency is that users of the application can acquire it for free. All they need to do is log into the game daily and click on the coin. No wallet creation or account registration is necessary.

The name of the coin will be NOT (reversed TON). Similar to Bitcoin, Ether, TON, and other currencies, it will be traded on exchanges and possess a specific value. The value will depend on market demand and supply, but there are additional factors that will influence its worth. These factors include the percentage of tokens in circulation compared to the total supply, the tokens held by the project team, decisions made by the team post-listing (such as the introduction of new application phases or possible staking), and the psychology of NOT holders.

Operation Principle:

Notcoin is a straightforward game designed to be accessible even to users with no prior knowledge of cryptocurrencies or blockchain technology. To start earning tokens, you need to follow these steps:

• Open the Telegram messenger on your iOS or Android mobile device.
• Activate the bot.
• Click on the animated coin icon on the screen multiple times. Each click will “mine” NOT cryptocurrency.

The number of clicks is limited. New users can click up to 1000 times. The limit can be increased in the “Boosts” section by purchasing the Full Energy boost, which fully replenishes energy. Initially, players receive one coin per click, but the Turbo bonus can be purchased to temporarily increase the number of earned tokens.

The game offers bonuses that can be acquired using in-game currency. At the time of writing, four boosts are accessible to participants:

Multitap – Increases the number of tokens earned per click.

Energy Limit – Raises the number of available clicks.

Recharging Speed – Speeds up energy restoration.

Auto Tap bot – Automatically “mines” coins while the user is offline.

Boosts of different levels are available in the section, with the cost of each subsequent bonus increasing.

In the “Earn” tab, users can complete simple tasks to earn tokens in their balance. These tasks typically involve subscribing to Telegram channels, following social media accounts, or joining TON blockchain products.

The game incorporates a ranking system with five leagues: Bronze, Silver, Gold, Platinum, and Diamond. Users’ positions, determined by the number of clicks, reward them with more coins in their game balance when they reach a new level. Further details can be found in the table.

Additionally, players can join squads and engage with their favorite Telegram channels. To do this, they need to click on the league name, go to the “Squads” tab, and select a community from those available in the ranking.

We will delve into these aspects in more detail later. However, first, it is important to understand the foundation of the project, including its ideology and how it has managed to gather such a substantial user base.

In fact, Notcoin’s mission is to introduce new, completely non-blockchain users to the world of cryptocurrencies. The project team handled it well. The numbers show this:

Notcoin team. Who is behind the creation of the project?

Currently, the Notcoin team consists of more than 20 people, including developers, marketers and finance specialists. Representatives of the project have already done their work in the media, attended several interviews and introduced themselves to the audience.

The founder of the project is Alexander Plotvinov, also the founder of Open Builders, the same person who presented the Notcoin product in Dubai in 2023.

Another famous team member and co-founder of Notcoin is Sergey Chikirev, also the co-founder of Open Builders.

In October 2023, TON achieved a global record by processing nearly 105,000 transactions per second. This performance surpasses that of other blockchains and even traditional payment systems such as Visa and Mastercard.

According to the platform’s developers, this milestone is not the extent of TON’s capabilities. They assert that the blockchain has the potential to handle several million transactions per second with a sufficient number of validators on the network.

Distinctive Features

Notcoin stands out as a unique Play-to-Earn project. Unlike many other applications, it employs an innovative model that enables participants to acquire coins at no cost. The system is meticulously designed to allow users to engage in the game and commence earning rewards regardless of their financial capacity. This inclusivity makes Notcoin more accessible to a broad audience.

Notcoin Technology

The developers have crafted an entertaining game for users, with Notcoin (NOT) serving as the primary currency within the application. As a meme coin, Notcoin is utilized for speculative trading rather than offering technological advancements. Its value is determined by its popularity within the community and its sociocultural impact.

Coin Emission

Details regarding the token have not yet been disclosed by the developers. As of early March 2024, it remains uncertain how the maximum supply will be regulated and the number of coins that players will receive. This information will be made available closer to the launch of the cryptocurrency.

Underlying Asset

Unlike stablecoins, meme coins are not backed by fiat currencies or tangible assets such as precious metals. Instead, their value is contingent upon investor interest and sociocultural factors.

Utilization

As of early March 2024, users are able to obtain NOT (NOT) coins within the game and transfer them to other wallets. Additionally, there will be future opportunities to trade this asset on various exchanges. At the time of writing, the cryptocurrency’s development team has not disclosed any further details about potential applications of the token post-listing.

Acquisition Methods

Users accumulate coins by actively participating in the game. Bonuses can be applied to augment the number of tokens earned per click. Furthermore, a rocket (turbo mode) periodically appears on the screen. Players must click on it to temporarily increase the number of coins acquired per click. Turbo mode does not deplete energy, allowing participants to maximize their benefits.

It is worth noting that the rocket only remains visible for a few seconds. If a user fails to click on it, it will reappear at a later time.

Earning Opportunities

As the coin has not yet been released, users are unable to generate profits from it. However, this option will become available upon the cryptocurrency’s listing. At that point, holders will have the ability to sell their digital assets and convert them into monetary gains.

Where to Purchase NOT Cryptocurrency

The coin is anticipated to be listed towards the end of March or the beginning of April 2024. Investors expect the cryptocurrency to be added to popular centralized exchanges and decentralized platforms (DEX). Users will also have the option to acquire the token through Telegram Wallet.

Factors Influencing Cryptocurrency Value

The value of meme coins is subject to investor interest and the balance between supply and demand. The project developers have indicated that following the listing, they will cease the issuance of new tokens, and the maximum emission volume will gradually diminish through burning, resulting in an appreciation of the asset’s price.

Wallet Options

The token will be launched on The Open Network blockchain. Notcoin can be securely stored in Telegram Wallet, which conveniently integrates with the messaging platform, facilitating the management of digital assets.

Additionally, users have the option to store their coins in alternative services such as Tonkeeper, Tonhub, MyTonWallet, Trust Wallet, SafePal, Tangem, Lumos, and various others. The choice of storage provider depends on the investor’s personal preferences.

Notcoin Game Mechanics: Tap and Earn!

The concept behind Notcoin is straightforward: tap on the screen to mine NOT coins. By physically touching the coin displayed on your phone screen, you can accumulate earnings. It’s as simple as that.

The game incorporates various boosting mechanics to enhance your mining experience. These include increasing the number of coins earned per tap and boosting energy levels, which regulate the mining process. Energy replenishment is directly proportional to its current level.

Moreover, you have the option to acquire a bot in the “Boosts” section. This bot automatically taps the screen for you for a continuous 12-hour period starting from your last login. This feature proves useful for mining coins while you’re occupied with other tasks or during sleep hours.

The same section also offers “Free Daily Boosters” that can be claimed once a day. These boosters, Turbo and Full Energy, provide three additional “rockets” to amplify the number of coins earned per tap and offer three complete energy refills, respectively.

As the coin mining phase reaches its endpoint and all coins are distributed, the game will undergo significant changes. Users will still be able to utilize the application, but it will transition into a different form.

How else can you earn NOT tokens? What benefits does Notcoin bring to the crypto industry?

Beyond the tapping gameplay, Notcoin provides tools for exploring the cryptocurrency market and delving into the world of Web3. In the “Earn” section, completing tasks such as Onboarding, Specials, and Web3 World enables you to earn additional coins.

These tasks are diverse and comprehensive, allowing you to familiarize yourself with the entire TON ecosystem:

• Creating a wallet on the TON network within Telegram.
• Establishing and utilizing a TON Space.
• Learning about buying and selling NFTs.
• Subscribing to multiple channels that cover the entire TON ecosystem.

Many individuals who were previously unfamiliar with cryptocurrencies have now developed an interest. They seek advice on topics like “When should I sell?” and “What will be its value?” while also requesting opinions on various projects entering the market.

A portion of these individuals will become genuinely interested in cryptocurrencies. They will first explore TON and subsequently familiarize themselves with other blockchains, register wallets, engage in exchanges, and become active participants in the market. This highlights one of the reasons why projects like Notcoin greatly benefit the crypto industry as a whole.

Squads and Notcoin Lords: Who will earn the most?

In Notcoin, a squad refers to a group of players and communities within the game. Any Telegram channel or chat administrator can create a squad within Notcoin. Each mined NOT coin earns 1 point for the squad you belong to. Points cannot be transferred between squads.

You have the ability to invite an entire community to your squad, with all new players becoming your referrals. The referral bonuses work similarly to inviting a friend.

Squads compete against each other and maintain their internal leaderboard.

Why is it important to discuss squads?

The creators of squads, who are also Telegram channel administrators and influencers, will emerge as the wealthiest users of the game and the largest holders of NOT tokens (excluding the foundation, team members, and Durov, respectively).

Understanding this fact is crucial for accurately assessing market participants’ psychology, aiding in a more objective evaluation of NOT’s price during listing and beyond.

The Connection Between Notcoin and Pavel Durov

Through effective marketing strategies, the project successfully created the impression that Durov played a role in the application’s development. This perception is evident from the extensive discussions surrounding this topic. An interesting move was “gifting” Durov approximately 15% of the NOT token supply.

How did Notcoin manage to attract such a significant user base? Analysis of their marketing strategy.

Notcoin has amassed more than 30 million users. How did they achieve such a substantial audience for their project?

The project incorporates a well-designed user acquisition model through advertising contracts with media outlets and influencers. On one hand, influencers or media entities promote the application, bringing their audience into the fold. On the other hand, Notcoin shares its audience with the influencers.

Another aspect that contributed to user attraction is the well-executed referral marketing approach. It’s simple: invite a friend, receive a welcome bonus, and earn additional bonuses based on their progress within the game.

Additionally, deep integration with Telegram played a significant role in attracting users. By offering a user-friendly application integrated into the most popular social network among the crypto community in the CIS region, Notcoin swiftly garnered a large audience.

Besides that, a significant factor in the promotion of Notcoin was the buzz surrounding retrodrops. Currently, the crypto community is enthusiastically participating in the farming of drops from various projects. And now, a game with Telegram support has emerged, seemingly centered around obtaining a drop (earning virtual coins and completing quests while familiarizing oneself with the project’s ecosystem – just like in other marketing campaigns of projects launching through retrodrops).

Secret Surprises within Notcoin

Firstly, there’s a secret skin – an inverted TON (NOT) and an invitation to DAO. By entering the word “wakeup” in Morse code within the game, players can unlock a secret black and white skin. Here’s the step-by-step guide:

W – Click, swipe left, swipe left (·––)
A – Click, swipe left (·–)
K – Swipe left, click, swipe left (–·–)
E – Click (·)
U – Click, click, swipe left (··–)
P – Click, swipe left, swipe left, click (·––·)

To “click,” simply tap on the coin, and to “swipe left,” slide your finger across the coin (dash).

Take your time between letters; as soon as one letter appears, refer to the instructions for the subsequent letter and input it accordingly.

Upon completing the quest, players will receive the secret skin, an invitation to join the NOTDAO group, and an invitation to the squad within it. According to an interview with one of the project’s co-founders, the primary function of managing the DAO will eventually be carried out by a group of interested individuals outside the current team, with no more than ten members. Furthermore, by using the /me command in the Notcoin bot, users were prompted to switch to the Not Dilemma bot, where they had the opportunity to earn up to 10 million coins. The essence of this bot lies in dividing or “stealing” an opponent’s coins. Engage in battles with opponents and compete for additional coins.

Notcoin Vouchers and the Bybit Pre-Market: Is it the right time to sell coins?

On March 7th, the Notcoin team introduced the option to exchange mined Notcoins for vouchers. These vouchers are NFTs that serve as proof of ownership for a specific quantity of coins. Vouchers with denominations of 10 million and 100 million can be sold. Initially, the price was set at…

For the official voucher collection, click here. Ensure that you only access the collection through this link and verify the presence of the verification icon next to the name. Numerous scam collections emerged shortly after the vouchers entered the market.

Initially, not everyone had the opportunity to exchange coins for NFTs, resulting in high prices. However, the price eventually stabilized at approximately 0.66 TON per 1 million coins. To put it into perspective, this translates to 6.6 TON for 10 million coins or 34 USDT (based on the current TON-to-dollar exchange rate).

Subsequently, the Bybit exchange launched the pre-market for NOT. This phase entails preliminary trading, allowing users to establish a somewhat fair price based on supply and demand before the token’s actual existence.

The initial trading price settled around 92 USDT for 10 million coins, which is three times higher than the price of the corresponding vouchers.

After analyzing both pre-sale markets, we drew several conclusions:

• The trading volumes are substantial, particularly on the getgems platform, where 7 trillion NOT tokens were traded.
• As the supply increased (not everyone had immediate selling opportunities), the prices of vouchers decreased.
• The prices of vouchers on external OTC markets remain consistent with those in the Bybit pre-market and the getgems marketplace.

Token Price Manipulation Strategies: An Analysis of Possible Approaches

Tokenomics encompasses the economic aspects of a token, including its utilization within a project, the user groups involved, and the intended purposes. Understanding the coin’s economy also requires an examination of the distribution of the total coin supply among different user groups.

It’s important to note that we lack precise information regarding the specific tokenomics of the project in question. Therefore, any analysis or speculation can only be based on assumptions due to the numerous unknown variables involved.

Nonetheless, certain factors are known. The project has announced plans to burn tokens held by inactive users, as well as tokens owned by dishonest users who engaged in activities like utilizing software, autoclickers, or bot farms. Additionally, some users may not claim or sell their tokens, potentially leading to forgotten tokens in wallets that will be burned.

The remaining coins in the tokenomics will be distributed among mining participants, estimated to be around 34 million users. In addition, we have knowledge of the following:

• Durov, the project’s key figure, holds the largest share of NOT tokens, approximately 15% of the total supply.
• It is likely that the owners of squads, or Telegram channel owners engaged in Notcoin, will receive a substantial portion of the tokens.
• It can be assumed that the project team will possess a percentage of the supply equal to or greater than Durov’s share.

Hence, we can deduce that 30% of the token supply is allocated to Durov and the project team, while the remainder is distributed among the community, with a significant portion potentially going to influencers.

Considering the objectives and motivations of these groups, it becomes evident that the team’s primary goal is to maximize the token’s value. Consequently, they are unlikely to flood the market with their tokens, indicating that at least 30% of the tokens will not create additional selling pressure.

Furthermore, the team’s token percentage (15%) is considerably higher, suggesting their understanding of the project’s potential, possible listings, user numbers, and growth prospects. Given that the voucher price is substantially lower than the pre-market price, it would be wise for the team to repurchase vouchers using available funds, including those planned from advertising contracts.

Why were the various pre-markets initially launched?

The objective behind launching these pre-markets was to minimize selling pressure in the order book during the token’s listing. Essentially, the aim was to target users who lacked confidence in the project and would be willing to sell their tokens at any price at the first opportunity.

Based on the trading volume, it appears that this strategy was successful. Consequently, the following potential manipulative actions can be observed in the Notcoin launch:

Step 1. Generate hype in the initial pre-market phase by initially restricting token withdrawals and increasing the price to create FOMO (Fear of Missing Out) among users.

During this stage, users who exhibited a tendency to sell their tokens at the first sign of profit or out of fear would do so. Simultaneously, the team would have the opportunity to repurchase all the vouchers, thereby increasing their share in the total coin supply.

Step 2. Introduce a second pre-market phase with a higher token price. Psychological factors come into play at this stage, fostering the belief among users that the token’s value will further increase upon listing. This step also allows those who were initially hesitant to sell their tokens in the first pre-market phase an opportunity to do so.

During the second step, the project not only eliminates another layer of users prone to selling quickly but also gains an opportunity to further increase their share in the token supply.

Step 3. Implement limited token issuance, thereby halting its growth. This measure aims to enhance the token’s value since it can no longer be obtained easily through actions but must be acquired from the market.

Step 4. List the token on major exchanges, leveraging the liquidity provided by the user base of 34 million individuals.

At this stage, the project should encounter minimal challenges in maintaining the token’s price since they have had ample opportunity to accumulate a significant volume

The listing of the NOT token has been a topic of speculation and anticipation. While no official statements have been released by the NOTcoin team regarding its listing, the potential for such a listing is evident. Considering the vast number of potential users, it would be hard to imagine any exchange turning away 34 million new Notcoin users.

Rumors and Clues

Several clues suggest that a listing may be in the works. One notable clue is the verification process involving Binance, which implies direct communication between the Notcoin project and the world’s largest exchange. This connection strengthens the possibility of a listing on a tier 1 exchange.

Additionally, the second stage of pre-market trading took place on the Bybit exchange, the second-largest exchange in the market. Furthermore, there was evidence of collaboration with the OKX exchange, indicating ongoing efforts to establish partnerships with various exchanges.

Future Prospects

The NOTcoin developers recently announced the upcoming listing of the digital asset on both centralized exchanges (CEX) and decentralized exchanges (DEX). They also clarified that after the airdrop, the issuance of new tokens would cease, but a modified form of “mining” would continue.

As the project is still in its early stages, the NOT cryptocurrency currently lacks significant practical value and essential elements such as a detailed technical document and a clear roadmap. Its primary purpose remains entertainment-oriented, but there is notable interest from the TON and Telegram teams in promoting Notcoin.