- Binance will airdrop 900 billion CAT tokens to FLOKI holders on August 29, 2024.
- On-chain holders of 400,000 FLOKI will receive 315 billion CAT tokens.
- 5% of CAT supply allocated to Floki Trading Bot users over 30 days.
Floki ($FLOKI) token holders are set to receive a substantial airdrop of Simon’s Cat ($CAT) tokens. The airdrop is part of Simon’s Cat’s launch strategy and highlights the growing significance of meme coins in the cryptocurrency market.
The airdrop, scheduled for August 29, 2024, will be facilitated by Binance, the world’s largest cryptocurrency exchange, marking a notable integration of new assets into the market.
Binance support for Simon’s Cat airdrop
Binance will play a crucial role in the airdrop by directly crediting CAT tokens to FLOKI holders on its platform.
Binance will take a snapshot of FLOKI holdings on August 29, 2024. To qualify, users must hold a minimum of 400,000 FLOKI tokens, which translates to roughly $50 at current prices.
The airdrop will distribute a total of 900 billion CAT tokens, representing 20% of Simon’s Cat’s total supply allocated to the Floki community. This move aims to enhance user engagement and extend the reach of Simon’s Cat within the crypto ecosystem.
On-chain airdrop and trading bot allocation
In addition to the Binance-supported airdrop, Simon’s Cat will also conduct an on-chain airdrop. This distribution will provide 315 billion CAT tokens, equivalent to 3.5% of the total supply, to FLOKI holders who maintain their tokens on-chain.
To be eligible, holders must retain at least 400,000 FLOKI tokens, and the airdrop will be proportionate to the amount held. Two snapshots will be taken: one on August 22, 2024, and a final one on August 29, 2024. To qualify, participants must hold their tokens through both snapshots without transferring or selling them in between.
Moreover, 1.5% of the CAT supply will be allocated exclusively to users of the Floki Trading Bot over 30 days. The exact details of this distribution will be revealed in a separate announcement. Other centralized exchanges are also expected to host CAT airdrops, with specifics still being finalized.
This airdrop strategy underscores the ongoing popularity of meme coins in the crypto market, despite recent slowdowns in trading volumes. As the meme coin craze persists, initiatives like these continue to drive enthusiasm and participation in the cryptocurrency space.