Original author: Ryan S. Gladwin
Original title: Telegram Game ‘Catizen’ Set to Reveal Airdrop Allocations as Binance Rewards Launch
Original source: Decrypt
Compiled by: Koala, Mars Finance
Catizen, the Telegram game that earns money by swiping cards, is preparing to reveal to players how many CATI tokens they will receive ahead of the token’s launch and airdrop on The Open Network (TON), with the developers also announcing a Binance Launchpool rewards event before opening it up to players to claim on centralized exchanges.
Catizen developer Pluto Studio announced on Friday that it will take a snapshot of players’ game progress at midnight and then announce token distribution on Saturday morning. On Sunday, players can claim the tokens through centralized exchanges ahead of the CATI token generation event on September 20.
Announcing the distribution ahead of time could soften the blow for players in terms of token distribution, or it could spark excitement among players. Back in June, some Blast users were disappointed when they discovered that, after overcoming a number of technical difficulties, their packages were not as large as they had hoped. This led to a sell-off, with token prices falling before many people even got around to claiming the airdrop.
Telegram Cat Games hopes to reduce the possibility of an immediate sell-off by allowing users to stake CATI for additional rewards. Staking will begin once the allocation is announced and will last until September 24. Each account is limited to 1,000 CATI.
Enabling direct claiming through centralized exchanges and encouraging users to stake tokens rather than withdraw them can also minimize the blow to The Open Network (TON), where CATI will be deployed. Players who want to withdraw tokens to a wallet rather than an exchange will obviously have to wait until September 20.
Both airdrop claims and staking services will be provided through Catizen’s centralized exchange partners, including OKX, HashKey, KuCoin, etc. Some of these platforms already offer pre-market trading for tokens.
Pre-market trading allows investors to speculate on the eventual price of a token. This type of trading is riskier than regular trading in many ways because there are a lot of unknown variables that could affect the price of a token, 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 per share, while OKX traders value the token slightly lower at $0.6974.
Like other famous Telegram games like Hamster Kombat, Catizen will also debut its token through the leading exchange Binance through a Launchpool bounty event. Of the total supply of 1 billion CATI tokens, 90 million CATI will be available to Binance customers who stake Binance Coin (BNB) or FDUSD stablecoins between September 16 and 19.
According to the Binance page, the initial circulation of CATI tokens is 305 million, which means that more than 30% of the tokens will be unlocked initially. This seems to include airdrop allocations, although Pluto Studio previously stated that 43% of the total token supply will be provided to players via airdrops. However, this number may include future airdrop waves.
It’s the start of a busy month for The Open Network (TON) as multiple Telegram games plan to launch their tokens. The largest game, Hamster Kombat (which reportedly has over 300 million users), will launch HMSTR on September 26, although other games are also planning to launch their own tokens in the same timeframe.
The influx of millions of potential new users has led TON developers to warn of future technical glitches, following two outages in late September due to airdrops and trading demand.
