Telegram’s tap-to-win game Cartizen’s tokens have gone live. 150 million tokens, or 15% of the total supply of 1 billion, have been airdropped to users as part of the Season 1 distribution, after a two-month delay from the originally planned launch.
Trading of the TON blockchain-based CATI token began at 6 a.m. ET on Friday. It is listed on several centralized exchanges, including Binance, Bybit, and Bitget. Registration for CATI deposits to non-custodial wallets began on Thursday, and tokens were distributed to eligible participants based on their gaming activity at 6 a.m. ET today, the team said.
According to the team, this is part of the 340 million CATI tokens dedicated to the airdrop, with the remaining 190 million being used for quarterly airdrop campaigns.
Pluto Studio, the developer of Catizen, began the airdrop process on September 14, releasing token allocations to players. Users can claim and stake CATI tokens on selected central exchanges ahead of the token generation event on Friday.
Some Catizen players were upset about the token allocation during the airdrop process, as the team initially allocated a larger percentage of the supply. However, just before the airdrop, the allocation was reduced, with 9% of the token supply instead being transferred to Binance Launchpool. Some players also criticized the eligibility weighting.
Of the remaining 57% of the total CATI supply, 5% is reserved for liquidity purposes. 15% is allocated to the treasury, 20% to the team, 10% to investors, and 7% to advisors, following a 12-month cliff and 48-month linear release schedule, respectively.
Citizen claims to have over 39 million total users and 18 million monthly active users. According to Telegram CEO Pavel Durov, it made $16 million in revenue from in-app purchases in July.
Telegram Clicker Game Craze Fuels TON Blockchain Growth
Telegram Mini App is a lightweight, web-based application that can be embedded directly into the popular messaging platform.
Telegram has expanded its cryptocurrency presence in recent months, with millions of gamers using the messaging app to play tap-to-earn games like Catizen, Hamster Kombat, Notcoin, and Yescoin, hoping to earn tokens on the TON blockchain.
Notcoin’s token NOT was launched on the TON blockchain in May and had a market cap of around $1.5 billion before falling to $816 million, according to The Block’s Notcoin Price Page. Hamster Kombat’s token is scheduled to be launched on September 26.
Capitalize With the explosive growth of the game, Telegram also launched a mini app store and in-app browser that supports Web3. July page.
According to a recent report from Bitget, the TON blockchain currently has 900 million active users and hosts over 1,159 cryptocurrency projects.
The daily transaction volume in the TON ecosystem has grown 12x over the past year, from 100,000 to 1.2 million. Bitget says TVL has now grown 1,800% to $350 million in less than six months, driven by the increase in DEX trading volume.
Disclaimer: The Block is an independent media outlet providing news, research and data. As of November 2023, Foresight Ventures is the largest investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information on the cryptocurrency industry. Below are the current financial disclosures.
© 2024 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be legal, tax, investment, financial or other advice.