Swipe-to-earn Telegram game Catizen is gearing up to reveal to players how many CATI tokens they will receive ahead of its token launch on The Open Network (TON) and airdrop, with developers also announcing a Binance Launchpool rewards campaign ahead of opening up centralized exchange claims to players.
Catizen developer Pluto Studio announced Friday that it will take a snapshot of player’s in-game progression at midnight, before revealing token allocations on Saturday morning. On Sunday, players can then claim those tokens through centralized exchanges ahead of the CATI token generation event on September 20.
Revealing allocations in advance could soften the blow to—or perhaps pump up the excitement of—players when it comes to token allocations. Back in June, some Blast users were left disappointed when they discovered that, after working through a number of technical difficulties, their bags weren’t as big as they’d hoped. This resulted in a selloff, with the token dropping in price before many could even claim their airdrop.
The Telegram feline game is looking to reduce the possibility of an instant selloff by allowing users to stake CATI to earn extra rewards. Available as soon as the allocation is revealed, the staking period will run through until September 24. Each account will be limited to earning an additional 1,000 CATI.
📣 CATIZEN MEOW Earn Starts Tomorrow! 🚀Check your CATI Airdrops!!
👇 Important Info Below👇
Sept -14th, 2024 00:00 UTC, CATIZEN will undergo maintenance and SNAPSHOT.
Sept – 14th, 2024 Expected 10:00 UTC, all users will be able to check 🪙 $CATI airdrop amounts, and the… pic.twitter.com/jSPJZeRzBJ
— Catizen (@CatizenAI) September 13, 2024
Enabling direct claims via centralized exchanges and pushing users to stake their tokens rather than withdraw them could also minimize the blow to The Open Network (TON), the network that CATI will be deployed on. Players aiming to withdraw their tokens to a wallet rather than an exchange will apparently have to wait until September 20.
Both the airdrop claim and staking service will be available through Catizen’s centralized exchange partners, including OKX, HashKey, KuCoin, and more. Some of these platforms already offer pre-market trading for the token.
Pre-market trading allows investors to speculate on the eventual price of a token. This can be riskier than regular trading in many ways due to the amount of unknown variables that may push a token’s price either way—such as how many tokens will be minted and how they will be distributed to various parties.
Bybit traders currently value the token at $0.724 apiece, while those on OKX see its value slightly lower at $0.6974.
Like fellow prominent Telegram game Hamster Kombat, Catizen will also debut its token with a Launchpool rewards campaign through leading exchange Binance. Out of a total supply of 1 billion CATI tokens, 90 million CATI will be offered up to Binance customers who stake Binance Coin (BNB) or the FDUSD stablecoin from September 16-19.
According to the Binance page, the CATI token’s initial circulating supply will be 305 million, which means that just over 30% of the tokens will initially be unlocked. This appears to include the airdrop allocation, though Pluto Studio previously indicated that 43% of the total token supply would be offered to players via the airdrop. That figure may include future airdrop waves, however.
This is the start of a busy month for The Open Network (TON) as multiple Telegram games plan to launch their tokens. The biggest, Hamster Kombat—which has a reported player base of over 300 million users—will launch HMSTR on September 26, though other games are plotting their own token drops around the same time period.
This flood of millions of prospective new users has resulted in TON developers warning of potential technical blips ahead, following two periods of downtime in late September that were attributed to airdrop and trading demand.
Edited by Andrew Hayward