The much-anticipated CATI token for the Telegram-based tap-to-earn game Catizen has officially launched, with 150 million tokens—15% of the total 1 billion supply—airdropping to users as part of its Season 1 distribution. The launch followed a two-month delay from the initially planned timeline, but trading for the TON blockchain-based tokens began smoothly at 6 a.m. ET on Friday.
CATI tokens are now listed on several prominent centralized exchanges, including Binance, Bybit, and Bitget. Prior to the trading launch, deposit registrations for CATI to non-custodial wallets opened on Thursday, ensuring users could access their tokens promptly. Participants in the game received their allocations based on their activity, distributed at the same time as trading commenced.
The broader airdrop initiative is part of a total allocation of 340 million CATI tokens, with 190 million set aside for ongoing quarterly airdrop campaigns. The airdrop process began on September 14, where players were able to claim and stake their CATI tokens on selected exchanges.
Despite the excitement surrounding the launch, some Catizen players expressed dissatisfaction with their token allocations. Initially, a larger percentage of tokens was planned for distribution, but this was reduced shortly before the airdrop. Approximately 9% of the token supply was redirected to the Binance Launchpool, leading to criticism regarding the eligibility weighting and allocation fairness.
For the remaining 57% of the total CATI supply, the distribution includes 5% reserved for liquidity, 15% allocated to the treasury, 20% for the team, 10% for investors, and 7% for advisors—all governed by a 12-month cliff and a 48-month linear release schedule.
Catizen claims to have amassed over 39 million total users, with 18 million active users each month. The game's success contributed to more than $16 million in revenue from in-app purchases as of July, according to Telegram CEO Pavel Durov.
This surge in user engagement reflects the broader trend of Telegram's expanding role in the crypto space, particularly through lightweight mini apps and in-app games that allow users to earn tokens. Games like Hamster Kombat, Notcoin, and Yescoin have also gained popularity, driving traffic and engagement on the TON blockchain.
As a result of this gaming craze, the TON blockchain has witnessed significant growth. A recent report from Bitget noted that the blockchain now boasts a user base of 900 million and hosts over 1,159 crypto projects. Daily transaction volumes have skyrocketed from 100,000 to 1.2 million over the past year, while the total value locked (TVL) has surged to $350 million, marking an 1,800% increase in less than six months.
Telegram has also enhanced its platform by introducing a mini-app store and in-app browser with Web3 support, further solidifying its position in the crypto ecosystem.
The launch of Catizen’s CATI token marks a pivotal moment for both the game and the TON blockchain. While the initial excitement has been tempered by user concerns regarding token allocations, the overall growth of the Telegram ecosystem continues to attract millions of users to its innovative gaming and crypto applications. As the landscape evolves, Catizen and similar projects could play a crucial role in shaping the future of gaming and cryptocurrency interactions.
September 2024, Cryptoniteuae