Catizen’s $CATI Token Debuts on Major Crypto Exchanges Amid Community Backlash

The native crypto asset of the Web 3 gaming project Catizen, known as $CATI, is set to commence trading on significant exchanges today. Catizen, a play-to-earn cryptocurrency project hosted on Telegram, has garnered considerable attention in the Web 3 sphere. As a mini app on Telegram, it has gained traction, particularly in the Nigerian Web 3 community, where $CATI has been trending.

In anticipation of the listing, various exchanges such as Binance, OKX, and Bitget had instituted countdown timers on their platforms. Before this official launch, $CATI had already been available in pre-market activities on crypto platforms including Bybit, Bitget, and Kucoin. The airdrop campaign initiated by Catizen allows users to earn tokens by engaging with the mini app, further enhancing its popularity.

As the project progresses, it faces challenges, particularly from its community. Initially, Catizen had promised an allocation of 15% of the total token supply for airdrops; however, it was later revealed that 19% was reserved for a “quarterly season airdrop campaign.” This campaign is now being executed through an innovative Airdrop Pass system, which will distribute tokens over a 90-day cycle as a reward for players’ activities.

Nevertheless, the allocation changes have sparked discontent among the players, who had been expecting a larger distribution of tokens based on previous commitments. Many community members expressed dissatisfaction with the lack of transparency regarding the token distribution and changes in the airdrop criteria, particularly after some players were found to be exploiting the system by increasing their earnings through illegitimate means.

Despite the controversies, Catizen has amassed a player base exceeding 34 million and generated revenues upward of $26 million from in-app purchases. The company has responded to the backlash by committing to a more transparent token distribution model for future Airdrop Pass seasons, as announced on their official Twitter account.

According to the announcement, the Airdrop Pass will become a functional use case for the $CATI token, although the exact cost for players remains undetermined. The project aims to maintain sustainability in the long run while offering lucrative incentives for its users. Catizen’s approach is to address short-term airdrop incentives while creating a viable economic model for future rewards.

As the tech community keeps a close watch on the developments, issues surrounding transparency and fairness in token distribution remain crucial for sustaining player engagement and trust in such crypto-based projects.