Catizen Developers Outline Challenges in CATI Token Launch, Community Faces Delayed Airdrop
The post Catizen Developers Outline Challenges in CATI Token Launch, Community Faces Delayed Airdrop appeared on BitcoinEthereumNews.com.
Coinspeaker Catizen Developers Outline Challenges in CATI Token Launch, Community Faces Delayed Airdrop The developers behind the Telegram-based crypto game Catizen have revealed that they have faced challenges in launching their CATI token and releasing their airdrop, which has frustrated the game’s growing community. The team explained that delaying the airdrop is difficult for them and that they are working hard to develop the best one for the community. Catizen was originally planning to launch its CATI token in July. However, the developers have acknowledged the delay, citing the need to optimize key elements for a successful token listing. In a message to the community, Pluto Studio – the developer behind the project – explained that they are working to get listed on major exchanges, offer multiple trading options, and secure a proper listing price. They also noted other factors, such as compliance and market sentiment. The team stated that despite having some situations under control, other aspects are entirely out of what they can control, potentially causing the delay. The team explained to Catizens users their Token Generation Event (TGE), the plan to ensure long-term holding and get CATI tokens to increase after getting listed. They revealed that seed round investors, advisors, and the team will not be given any tokens at the TGE to achieve this. Instead, they will receive their tokens after 12 months. Even when they get their tokens, they’ll have to wait another 12-month cliff period. After that, the tokens will vest for another four years. They said: “At the Token Generation Event (TGE), seed round investors, advisors, and the team will receive 0% of the CATI tokens. Furthermore, when they do receive their tokens after the initial 12 months, they will be subject to a 12-month cliff period, following which the tokens will be…
Filed under: News - @ July 30, 2024 11:22 pm