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With the recent tap-to-earn craze on Telegram, a new project called PocketFi has taken a slightly unique route and created a unified DeFi mini-app on the messaging platform.
PocketFi is a DeFi platform built as a Telegram mini-app, designed to simplify cross-chain token transfers, sniping, copy trading, and more, all within the convenience of the Telegram interface. This innovative approach allows users to manage multiple wallets, execute token swaps, and participate in DeFi activities without leaving the app. PocketFi aggregates liquidity from multiple decentralized exchanges (DEXes) to offer optimal transaction routes with minimal slippage.
The project is rapidly gaining popularity, boasting over 10 million users and strong community engagement on both Telegram and Twitter. A key aspect of PocketFi is its governance token, $SWITCH, which plays a central role in user activities.
Key features of PocketFi
Users can execute multiple DeFi activities, such as managing wallets and swapping tokens, all within the familiar Telegram interface. PocketFi’s system simplifies these processes by eliminating the need to switch between various apps and platforms. Its core revenue model is based on transaction fees for token swaps and related services.
Its governance token, $SWITCH, allows token holders to participate in decision-making processes, including adding new DeFi protocols to the platform. This token also plays a key role in the platform’s tokenomics, with a distribution plan that includes mining rewards, governance, and team incentives.
An interesting roadmap
PocketFi has recently refreshed its roadmap to align with the growing interest in meme tokens and decentralized trading across blockchains. One of the key updates is the launch of BigPump Memepad in Q4 2024, which will focus on trading meme tokens on the TON blockchain. This feature is expected to attract a broader user base and further integrate PocketFi into the current crypto trends.
Additionally, PocketFi will enhance its trading functionality by introducing features like limit orders, fast buy/sell options, and swap routing optimization, making the trading experience more efficient and accessible. The $SWITCH token staking mechanism, also set for Q4 2024, will encourage long-term holding, fostering community engagement while boosting the token’s overall value. Moving into Q1 2025, PocketFi plans to integrate non-custodial wallets, granting users full control of their assets, and implement a DAO voting mechanism, allowing $SWITCH holders to participate in project governance.
Latest milestones
PocketFi has hit the milestone of 10 million users, leading to the final halving of $SWITCH mining rewards, aligning with its roadmap. Key updates include a doubling of the maximum swap count to 80, while the $SWITCH reward per swap is halved. Other reward reductions affect bonuses for new referrals, TON Punks NFTs, and Big Pump whitelist participation. Despite these reductions, the focus is now on the upcoming $SWITCH token listing, which is highly anticipated by the community
In addition, PocketFi has completed its Ambassador Program selection, choosing 50 key opinion leaders (KOLs) to represent the platform. The Airdrop section has also launched in collaboration with Tonstakers, offering new staking tasks with guaranteed $SWITCH rewards and prize pools. Lastly, the referral reward program tied to the Big Pump launch offers up to 40% from trading commissions through a three-tier referral system, marking one of the largest programs for meme token trading
PocketFi has also improved its swap functionality, adding support for STON.fi V2 pools and reducing gas fees for V1 pools, making transactions more efficient for users. These updates are designed to improve the user experience while boosting $SWITCH mining performance.
When is PocketFi’s $SWITCH token airdrop and TGE?
The PocketFi airdrop is scheduled for Q4 2024, though the exact date has not yet been announced. This airdrop is a part of their play-to-earn model, allowing users to earn tokens through various in-app activities and missions. The Token Generation Event (TGE) is also set for Q4 2024, and this event is highly anticipated as it will mark the official listing of the $SWITCH token on exchanges.
