Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
Telegram game Catizen's token goes live for exchange trading amid community airdrop

Telegram game Catizen's token goes live for exchange trading amid community airdrop

The BlockThe Block2024/09/19 16:00
By:The Block

Quick Take Catizen’s TON blockchain-based CATI token has gone live for trading on several centralized exchanges. The Telegram clicker game airdropped 150 million tokens to eligible users as part of its Season 1 distribution.

Telegram tap-to-earn game Catizen’s token has gone live for trading with 150 million tokens, or 15% of the total 1 billion supply, airdropped to users as part of its Season 1 distribution, following a two-month delay to its initially planned launch.

Trading began for the TON blockchain-based CATI tokens at 6 a.m. ET on Friday morning. They are listed on several centralized exchanges, including Binance, Bybit and Bitget. Deposit registrations for CATI to non-custodial wallets opened on Thursday, and the tokens were also distributed to eligible participants at 6 a.m. ET today based on their game activity, the team said .

This is part of a larger allocation of 340 million CATI tokens dedicated to airdrops, with the remaining 190 million used for quarterly airdrop campaigns, according to the team.

Pluto Studio, the developer of Catizen, began the airdrop process on Sept. 14, revealing token allocations to players. Users could claim and stake CATI tokens on selected centralized exchanges ahead of Friday’s token generation event.

Some Catizen players were upset about their token allocations during the airdrop process, as the team had initially allocated a larger percentage of the supply. However, shortly before the airdrop, the allocation was reduced, with 9% of the token supply diverted to the Binance Launchpool instead. They also criticized the eligibility weighting for some players.

Of the other 57% of the total CATI supply, 5% is reserved for liquidity purposes. 15% is allocated to the treasury, 20% to the team, 10% to investors and 7% to advisors, each with a 12-month cliff and 48-month linear release schedule.

Citizen claims to have more than 39 million total users and 18 million monthly users. It surpassed $16 million in revenue from in-app purchases in July, according to Telegram CEO Pavel Durov.

Telegram clicker game craze fuels TON blockchain growth

Telegram mini apps are lightweight, web-based applications that can be embedded and accessed directly within the popular messaging platform.

Telegram has expanded its crypto footprint in recent months, with millions of gamers using the messaging app to play tap-to-earn games like Catizen, as well as Hamster Kombat, Notcoin and Yescoin in the hope of earning corresponding tokens on TON blockchain.

Notcoin’s token NOT went live on the TON blockchain in May, peaking at a market cap of around $1.5 billion before dropping back to $816 million, according to The Block’s Notcoin Price Page . Hamster Kombat’s token is scheduled to launch on Sept. 26.

Capitalizing on the games' explosive growth, Telegram also  introduced a mini-app store and an in-app browser with support for Web3 pages in July.

According to a recent report from Bitget, TON blockchain now has a 900 million active user base and hosts more than 1,159 crypto projects.

The TON ecosystem's daily transaction volume has grown twelvefold from 100,000 to 1.2 million over the past year. Bitget said its TVL currently stands at $350 million, up 1,800% in less than six months, driven by DEX trading volume growth.


0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

SEC Chair Gary Gensler Gives First Sign He May Resign – Has He Made His Final Announcement?

SEC Chairman Gary Gensler, who is disliked by the cryptocurrency world, gave the first signal that he may resign.

Bitcoinsistemi2024/11/15 01:44

Donald Trump's Altcoin Project Partners With A New Altcoin!

World Liberty Financial (WLFI), the new decentralized finance (DeFi) protocol backed by Donald Trump and his family, has partnered with Chainlink (LINK).

Bitcoinsistemi2024/11/15 01:44

Franklin Templeton, Who Manages $1.5 Trillion, Will Also Make His Cryptocurrency Fund Available on a Giant Altcoin Network!

Franklin Templeton U.S. Government OnChain has extended the U.S. Government Money Market Fund (FOBXX) to the Ethereum blockchain.

Bitcoinsistemi2024/11/15 01:44