In Phase 1, Tapioca DAO's TAP token will come to exist via an LBP (Liquidity Bootstrapping Pool). Once the TAP LBP Auction is complete, Phase 2 will start and you can claim & exercise any Option Airdrop that you qualify for.

This Option Airdrop is denominated in aoTAP, which will give you the option to purchase TAP at a significant discount to market price.