Telegram-based game Catizen has made waves with the launch of its CATI token. This tap-to-earn game, built on the TON blockchain, has garnered significant attention from the crypto community, with its token now available for trading on various centralized exchanges. The journey to this milestone has been marked by both excitement and controversy, as the team behind Catizen navigates the complexities of token distribution and community engagement.
At the time of writing this report $CATI was trading at 0.96 on Kucoin, marking a whooping 4716% high
Catizen’s Token Launch and Airdrop
The CATI token, which represents the in-game currency for Catizen, officially went live for trading on Friday, September 16th, 2023, at 6 a.m. ET. This launch came after a two-month delay from the initially planned timeline, as the developers worked to ensure a smooth and secure rollout.
As part of the token’s distribution, the team allocated 150 million CATI tokens, or 15% of the total 1 billion supply, to be airdropped to users as part of the game’s Season 1 distribution. The airdrop process began on September 14th, with players able to claim and stake their CATI tokens on selected centralized exchanges ahead of the token generation event.
Related Read: Catizen Airdrop: Ultimate Tutorial to Earn CATI Tokens
Centralized Exchange Listings and Accessibility
The CATI tokens are now listed on several prominent centralized exchanges, including Binance, Bybit, and Bitget. This listing on major trading platforms has made the tokens more accessible to a wider audience of investors and speculators, potentially driving increased trading volume and liquidity.
Deposit registrations for CATI tokens to non-custodial wallets also opened on Thursday, September 15th, allowing users to store their tokens in personal wallets for added security and control.
Trading on binance is also scheduled to open in next 14 minutes and most probably be open by the time this report goes live.
Community Reaction and Feedback
The Catizen community has been closely following the token launch and airdrop process, with some players expressing concerns and criticism about the token allocations and eligibility weighting. Initially, the team had allocated a larger percentage of the token supply to the airdrop, but this was reduced shortly before the distribution, with 9% of the supply diverted to the Binance Launchpool instead.
Some players felt that the revised allocation and eligibility criteria were not transparent or fair, leading to disappointment and frustration within the community. The team’s handling of the airdrop process has been a source of ongoing discussion and debate among Catizen enthusiasts.
Catizen’s Impressive Growth and Telegram Ecosystem Integration
Despite the challenges surrounding the token launch, Catizen has continued to demonstrate impressive growth and adoption. The game claims to have more than 39 million total users and 18 million monthly active users, with a reported $16 million in revenue from in-app purchases in July 2023 alone.
Catizen’s integration within the Telegram ecosystem has been a significant factor in its success. As a Telegram mini-app, the game can be easily accessed and played directly within the popular messaging platform, allowing for seamless integration with the broader Telegram user base.
The Rise of Telegram-based Crypto Games and the TON Blockchain
Catizen is part of a larger trend of Telegram-based crypto games that have been fueling the growth of the TON blockchain. Other notable examples include Hamster Kombat, Notcoin, and Yescoin, all of which have launched their own tokens on the TON network.
The popularity of these tap-to-earn games has led to a significant expansion of the TON ecosystem, with the blockchain now boasting a reported 900 million active user base and hosting more than 1,159 crypto projects. The daily transaction volume on the TON network has also grown twelvefold, from 100,000 to 1.2 million, over the past year.
Catizen’s Token Allocation and Distribution
The total 1 billion CATI token supply is divided among various stakeholders and purposes. In addition to the 150 million tokens allocated for the Season 1 airdrop, the team has reserved 340 million CATI tokens for future airdrop campaigns, with the remaining 510 million tokens allocated as follows:
- 5% for liquidity purposes
- 15% for the treasury
- 20% for the development team
- 10% for investors
- 7% for advisors
Each of these allocations has a 12-month cliff and a 48-month linear release schedule, ensuring a gradual and controlled distribution of the tokens.
Catizen’s Potential Impact on the TON Ecosystem
The success of Catizen and the integration of its CATI token within the TON blockchain ecosystem could have far-reaching implications. The game’s large user base and revenue potential could drive increased adoption and usage of the TON network, potentially leading to further growth and development of the broader TON ecosystem.
Additionally, the integration of Telegram mini-apps like Catizen could enhance the platform’s appeal and functionality, making it a more attractive option for both users and developers in the crypto space.
Regulatory Considerations and Potential Risks
As with any cryptocurrency project, Catizen and the CATI token are subject to regulatory scrutiny and potential risks. The team must navigate the complex landscape of cryptocurrency regulations, ensuring compliance with applicable laws and guidelines in the jurisdictions where the game and token are accessible.
Investors and users should also be aware of the inherent risks associated with any cryptocurrency investment, including market volatility, liquidity concerns, and the potential for malicious actors to exploit vulnerabilities in the system.
Catizen’s Future Roadmap and Potential Developments
The Catizen team has outlined a roadmap for the game’s future development, which includes plans for additional seasons, new gameplay features, and further integration with the TON ecosystem. These planned enhancements could help maintain the game’s momentum and continue to drive user engagement and adoption.
However, the team will need to address the community’s concerns and feedback, ensuring transparent and fair token distribution processes to maintain trust and loyalty among Catizen’s player base.
Conclusion
The launch of Catizen’s CATI token on centralized exchanges and the accompanying airdrop to the game’s community mark a significant milestone in the project’s evolution. While the process has not been without its challenges, the game’s impressive growth and integration within the Telegram ecosystem suggest that Catizen could play a crucial role in the continued expansion of the TON blockchain and the broader crypto gaming landscape.
As the Catizen team navigates the complexities of token distribution and community engagement, it will be essential to maintain transparency, address player concerns, and continue to innovate and improve the game’s offerings. The success of Catizen could have far-reaching implications for the future of Telegram-based crypto games and the TON ecosystem as a whole.
What is the CATI token and its significance in Catizen’s game?
The CATI token is the in-game currency for Catizen’s virtual cat café, facilitating in-game transactions and rewards.
When did the CATI token go live for exchange trading?
The CATI token went live for exchange trading on Friday, September 16th, 2023, after a two-month delay from the initial timeline.
Where can the CATI tokens be traded and stored?
CATI tokens are listed on centralized exchanges like Binance, Bybit, and Bitget for spot trading, and can be stored in non-custodial wallets for added security.
What are the potential impacts of Catizen and its CATI token on the TON ecosystem?
Catizen’s success and the integration of its CATI token within the TON blockchain ecosystem could lead to increased adoption and usage, driving further growth.
Disclaimer: The information provided in this article is for informational purposes only and does not constitute financial advice. Investing in cryptocurrencies involves risks, and readers should conduct their own research and consult with financial advisors before making investment decisions. Hash Herald is not responsible for any profits or losses in the process.
