đȘ Catizen $CATI Really MESSED UP With Their #Airdrop Allocation
đ± 9 Big Mistakes by the Catizen Team (They Just Filled Their Pockets) đ
1. Misleading Rewards Structure:
Initially, rewards were supposed to depend on CATI speed (VKitty) and Fish Consumption. Now, allocations are based on investment amounts. Master-level members who didn't spend got 30-40 tokens, while Gold members with just $40 investment received 40-60 tokens.
2. Unclear Supply Allocation:
The team claimed 43% of the total supply would be airdropped but didnât specify the seasons. They should have detailed S1 and S2 in the whitepaper from the start.
3. Overblown Launchpool Allocation:
Recent Binance Launchpool projects allocated 3-4% to the launchpool, but Catizen diluted this to 9%, cutting from the community airdrop supply rather than the teamâs allocation.
4. Reduced Community Supply:
The airdrop supply was reduced from 43% to 34% (after accounting for the 9% launchpool). It's now split into two seasons, with S1 only receiving 15%. This lack of transparency is concerning.
5. Lack of Transparency:
They failed to mention S1 and S2 seasons in the whitepaper, undermining their claim of a 43% airdrop supply and showing a strategy shift to reduce community benefits at launch.
6. Questionable Valuation:
They raised only $2.8M by diluting 10% of the supply, which implies a valuation of just $28M. This raises serious concerns.
7. Excessive Team Allocation:
The team received 20% of the supply, more than the S1 airdrop (15%). Including the IYK treasury, about 35% of the supply benefits the team. This is both disappointing and frustrating.
8. Neglecting Early Contributors:
They overlooked dedicated users who contributed for months and focused more on fundraising and team allocations, raising $26M from 1.2M paying users.
9. Unfair Allocations:
They diluted 10% of the supply for just $2.8M, while 35% went to the team and 9% to the Launchpool.
I was initially bullish on $CATI due to thorough research and their promise of a 43% airdrop.
