Telegram Game Catizen Airdrop Face Criticism From Community
The post Telegram Game Catizen Airdrop Face Criticism From Community appeared on BitcoinEthereumNews.com.
In a surprising turn of events, Catizen’s highly anticipated $CATI token airdrop has faced a considerable amount of backlash from the crypto community. The expected generous distribution turned into a disaster, with many accusing the Catizen team of unfair practices and misleading promises. What all went wrong? During the announcement of the airdrop, the Catizen team promised that airdrop rewards would be based on participation metrics like CATI speed (VKitty) and fish consumption. However, as the airdrop was being processed, it became evident that allocation was primarily tied to the amount invested in the project. This abrupt change frustrated the participants, specifically the Master Level members, community members who did not invest received 30-40 tokens, while Gold members who had invested merely $10 received 40-60 tokens. One of the most controversial aspects of the airdrop was the reduction in the promised supply. Initially, Catizen stated that 43% of the total token supply would be airdropped to the community. However, the allocation was quietly reduced to 34% after the team decided to allocate 9% of the supply to Binance’s Launchpool. This cut off was from the community’s portion instead of reducing the team’s allocation which enraged the members. Initial Token Allocation Furthermore, Catizen split the remaining 34% into two seasons: Season 1 (S1) received just 15%. This move was met with widespread criticism, as the team failed to mention the S1 and S2 divisions in their initial announcement, raising concerns about their transparency and long-term strategy. The community is in disbelief that the amount allocated for the team and the treasury supply has not been changed. The token reserved for the team and the treasury is a total of 35% of the token supply. This led to an uproar within the community stating that the team is prioritizing itself rather than…
Filed under: News - @ September 16, 2024 10:20 am