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In summary
- Telegram tap-to-earn game Catizen will reveal to players how many CATI tokens they will receive before its token launch on The Open Network (TON) and during the airdrop.
- Players will be able to claim these tokens through centralized exchanges before the CATI token generation event on September 20.
Telegram tap-to-earn game Catizen is preparing to reveal to players how many CATI tokens they will receive ahead of its token launch on The Open Network (TON) and during the airdrop, with the developers also announcing a Binance Launchpool bounty campaign before opening up claims on the centralized exchange to players.
Catizen developer Pluto Studio announced on Friday that it will take a snapshot of players’ in-game progress at midnight, before revealing token allocations on Saturday morning. This Sunday, players will be able to claim those tokens via centralized exchanges ahead of the CATI token generation event on Sept. 20.
Revealing allocations early could soften the blow or perhaps increase player excitement when it comes to token allocations. In June, some Blast users were left disappointed when they discovered that, after overcoming a number of technical difficulties, their coffers were not as large as they had hoped. This resulted in a massive sell-off, with the token dropping in price before many were able to claim their airdrop.
Telegram’s Cat Game aims to reduce the possibility of an instant sell-off by allowing users to stake CATI to earn additional rewards. The staking period will be extended until September 24. Each account will be limited to earning a maximum of 1,000 additional CATI.
https://twitter.com/CatizenAI/status/1834608505766211705
Facilitating direct claims through centralized exchanges and encouraging users to stake their tokens rather than withdraw them could also minimize the impact on The Open Network (TON), the network on which CATI will be deployed. Players who wish to withdraw their tokens to a wallet rather than an exchange will reportedly have to wait until September 20.
Both the free 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 number of unknown variables that can drive the price of a token in either direction, such as how many tokens will be issued and how they will be distributed to players.
Bybit traders currently value the token at $0.724 each, while OKX traders value it slightly lower at $0.6974.
Much like the popular Telegram game Hamster Kombat, Catizen will also debut its token with a Launchpool rewards campaign via major Cryptocurrency exchange Binance. Out of a total supply of 1 billion CATI tokens, 90 million CATI will be offered to Binance customers staking Binance Coin (BNB) or the stablecoin FDUSD from September 16 to 19.
According to Binance’s page, the initial circulating supply of the CATI token will be 305 million, meaning that just over 30% of the tokens will be unlocked initially. This appears to include the airdrop allocation, although Pluto Studio previously indicated that 43% of the total token supply would be offered to gamers via airdrop. However, that figure may include future airdrop waves.
This is the start of a busy month for The Open Network (TON) as several games on Telegram plan to launch their tokens. The largest, Hamster Kombat—which has a reported player base of over 300 million users—will launch HMSTR on September 26, though other games are planning to launch their own coins around the same time frame.
This rush of millions of potential new users has resulted in warnings from TON developers about potential technical issues ahead, following two periods of downtime in late September that were attributed to demand for token airdrops and trading.
Edited by Andrew Hayward
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