Telegram Tap-to-Earn Game Catizen’s Token Launch

Catizen’s token, CATI, has launched for trading with 150 million tokens (15% of the total 1 billion supply) airdropped to users after a two-month delay. Trading commenced on the TON blockchain at 6 a.m. ET on Friday and is listed on various exchanges, including Binance, Bybit, and Bitget. Deposit registrations for non-custodial wallets opened the day before the launch.

Airdrop Details

A total of 340 million CATI tokens are allocated for airdrops, with 190 million earmarked for future quarterly distributions. Pluto Studio, the developer, initiated the airdrop on September 14.

Despite initial plans for larger allocations, some players expressed dissatisfaction as the percentage was reduced, with 9% redirected to Binance Launchpool shortly before the airdrop. Users can claim and stake CATI tokens on selected exchanges.

Token Distribution

Of the remaining 57% of the supply: 5% reserved for liquidity, 15% allocated to the treasury, 20% to the team, 10% to investors, and 7% to advisors, all with a 12-month cliff and 48-month release schedule.

User Base and Revenue

Catizen boasts over 39 million total users, with 18 million being monthly active users. As of July, it achieved over $16 million in revenue from in-app purchases, according to Telegram CEO Pavel Durov.

Telegram Expands Crypto Presence

Telegram’s mini apps allow users to access web-based applications within its platform. The app’s gaming popularity has surged recently, leading to a boom in tap-to-earn games like Catizen, Hamster Kombat, Notcoin, and Yescoin.

Notcoin’s token, which launched on the TON blockchain in May, saw a peak market cap of $1.5 billion. Hamster Kombat’s token is set to launch on September 26th.

To further enhance its offerings, Telegram introduced a mini-app store and an in-app browser supporting Web3 pages in July. According to Bitget, the TON blockchain now has 900 million active users and hosts 1,159 crypto projects, with transaction volumes increasing significantly over the past year.