The CATI token for Telegram's tap-to-earn game, Catizen, has officially launched for trading on multiple centralized exchanges, including Binance, Bybit, and Bitget.
The CATI token for Telegram's tap-to-earn game, Catizen, has officially launched for trading on multiple centralized exchanges, including Binance, Bybit, and Bitget.
Trading commenced at 6 a.m. ET on Friday, following a distribution of 150 million tokens, which represents 15% of the total supply of 1 billion tokens. This token distribution is part of the game's Season 1 airdrop, which began on September 14.
Players who participated in the game were eligible for the airdrop based on their in-game activity, with tokens distributed at the same time trading began. The development team, Pluto Studio, initially planned a larger allocation but reduced it shortly before the airdrop, diverting 9% of the supply to the Binance Launchpool.
This decision led to some dissatisfaction among players regarding their token allocations and eligibility criteria.
The airdrop is part of a broader allocation of 340 million CATI tokens, with the remaining 190 million earmarked for future quarterly campaigns.
Of the total token supply, 57% is reserved for various purposes: 5% for liquidity, 15% for treasury, 20% for the development team, 10% for investors, and 7% for advisors, all under a 12-month cliff and 48-month linear release schedule.
According to Telegram CEO Pavel Durov, Catizen has attracted over 39 million users, generating more than $16 million in revenue from in-app purchases as of July.
The TON blockchain, which hosts the game, has seen significant growth, with its daily transaction volume increasing from 100,000 to 1.2 million in the past year.
The ecosystem currently supports more than 1,159 crypto projects and boasts a user base of 900 million according to report.
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