🪂 Catizen $CATI Really MESSED UP , With Their #Airdrop Allocation
🐱 9 Big Mistakes by the Catizen Team (The Team Just Filled Their Pockets) 👇
1. Firstly, they said rewards would depend on CATI speed(VKitty)/Fish Consumption, but now allocation is based on investment.
- Master level members who didn’t spend got 30-40 tokens, while Gold members with just $10
investment got 40-60 tokens.
2. They earlier said 43% of the total supply will be airdropped to the community, but there was no mention of the seasons. They should’ve mentioned S1 and S2 seasons initially in the whitepaper.
3. Recent(last 6-8) Binance Launchpool projects allocated 3-4% to the launchpool. But catizen team diluted more with 9%, and they cut it from the community Airdrop supply instead of the team allocation.
- Seems like the team is more hungry
4. They reduced the community airdrop supply from 43% to 34% (43% community - 9% lauchpool), then split it into two seasons.(S1 - 15%) - That’s unfair. - no transparency
5. Many poeple will say that a project should not give much on TGE for the sustainability (because the selling pressure will increase after TGE), and yes, you're right.
But why didn’t they mention S1 and S2 seasons in the whitepaper? This shows their fake strategy to grow the community by showing 43% airdrop supply & on launch time they just changed it.
- Transparency is at its lowest point.
6. They raised only $2.8M by diluting 10% of the supply from seed & strategic rounds (which is huge). That means the valuation is just $28M.
– Which is pretty concerning.
7. They allocated 20% of the supply to the team, which is more than the S1 airdrop supply (15%) 😂. Plus, IYK treasury supply also benefits the team, so in total, about 35% of the supply goes to the team.
- No words, just a shame & anger 😐
8. They ignored the early contributors and hardworking users who had been grinding for 3-4 months and spent their valuable time. Their main focus was grabbing money through fundraising and giving allocations to the team & They made $26M from 1.2M paying users. So, they got what they wanted and moved on.
- Cashgrab or what?
9. Instead of giving fair allocations to community members, they diluted 10% of the supply by only raising $2.8M, while giving 35% to the team and 9% to the Launchpool (LMAO).
People may ask why I was bullish on $CATI. 1st point is as always, I researched the project, team, and utility. 2nd point is they promised 43% for airdrop. But they changed it like ZKSync. No one could have predicted that. And in this situation, even I cannot do anything. 😶
Don’t expect big airdrops from any project. Low allocations are disappointing & it hurts you.
- That's why, I always say just keep grinding & don't fully focus on only one project. $TON 💎
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