Swipe-to-Earn Telegram Game ‘Catizen’ Airdrops CATI Token

Swipe-to-earn Telegram game Catizen debuted its CATI token today at a $1 billion fully diluted valuation and a $200 million market capitalization.

CATI trades for $1 today and has been the source of early contention. The team had initially outlined in its whitepaper that it was allocating 34% of the token supply to today’s airdrop, but players were dismayed after only 15% was distributed.

The remaining 19% will be available through an Airdrop Pass, which the team hopes will incentivize users to continue playing the game.

Catizen’s activity has plummeted, according to DappRadar. Unique active wallets (UAW) sit at 70,000, down from 655,000 on Sept. 12, with volume and transaction throughput enduring a similar fate.

The Airdrop Pass is a move to use CATI as a way for players to gain a ticket for future airdrops. It will have a 90-day cycle, distributing 1% of tokens per season which ultimately translates to 4 years and 8 months worth of ongoing token distributions.

Players can earn points by completing tasks, and the airdrop pass will display the player's points along with those of all Catizen players.

“Catizen's vibe: Play for the airdrop, Heal the world!” posted the team on X.

Community Backlash

The Catizen airdrop reveals an interesting incentive disparity.

Despite initial claims that 34% would be distributed today, the team lowered the amount and decided to structure a more incremental allocation to potentially boost the game’s sustainability over time.

But many players in crypto are in it for the fast gains, and today’s drop in distribution was met with dismay. The pseudonymous Gautamguptagg outlined 9 mistakes the team made (and how “the team just filled their pockets”) which is in line with many other comments on Crypto Twitter.

Players were also frustrated with the lack of communication regarding changes to the airdrop criteria. As the airdrop approached, the team changed the weighting of its airdrop after it discovered some users had been artificially boosting their earnings.

Hamster Kombat Airdrop

Another notable game in the TON ecosystem is Hamster Kombat, which is also gearing up for its own airdrop.

The tap-to-earn game said it would issue its token and distribute HMSTR by way of an airdrop to users on Sept. 26. The rollout comes after the project pushed back its initial rollout set for July.

Analysts say that CATI’s impressive opening – its market cap soared to $315 million before dropping down to $200 million – is a good omen for Hamster. “Strong token launch for the Telegram game, and likely bodes well for the upcoming Hamster Kombat token,” said analyst TylerD.