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Floki has announced a substantial investment in the new CAT token, derived from the famous animated series âSimonâs Cat.â This decision by Flokiâs decentralized autonomous organization (DAO) to allocate $200,000 USDT from its treasury to purchase CAT tokens marks a strategic foray into entertainment-themed meme coins.
âSimonâs Cat,â is an animated show known for its humorous depiction of a mischievous cat and his owner. Through the meme coin launch, the brand might be aiming to explore blockchain technology for broader engagement and monetization
đ Simonâs Cat (CAT) Airdrop in Binance
After an approval process, an overwhelming 97.72% of votes within the Floki DAO supported this initiative. Consequently, the Floki DAO will hold CAT tokens as strategic assets in its treasury. Indeed, this investment highlights Flokiâs attempt to integrate popular culture into its growth strategy.
Coinciding with this investment, Binance extended its support for the CAT token airdrop, targeting Floki holders on its platform. This support has significantly boosted the Floki tokenâs market performance, with its value increasing nearly 20% this week.
enhance liquidity and offer additional value to Floki token holders, who will receive CAT tokens directly in their Binance accounts.
Binance will support the distribution of 900 billion CAT tokens to qualified Floki holders based on their holdings. To qualify, users must hold at least 400,000 Floki tokens in their Binance accounts, equating to about $50 at current prices.
đ„đ„ âBinance will conduct the airdrop based on a snapshot to be taken on 29 Aug 2024 at 23:59:59 UTC,â Floki announced.