As an analyst with years of experience in the crypto market, I must say that Floki DAO’s decision to compensate the Simon’s Cat team and convert the presale into an airdrop is not only impressive but also commendable. The 97.72% approval rate from the community speaks volumes about their trust and faith in the project.
In response to the cancellation of the Simon’s Cat Token (CAT) presale, Floki DAO has decided to compensate the Simon’s Cat team with a total of $223,815.20.
The Floki community has shown overwhelming endorsement for this decision, with a staggering 97.72% approval in a recent vote, emphasizing their commitment to upholding honesty and openness in their business practices.
The pre-sale, designed for distributing CAT tokens to FLOKI token owners, was abruptly terminated due to relentless botting assaults. These intrusions threatened the fairness of the offering, prompting the Floki team to make swift decisions.
Rather than moving forward with a questionable sale, Floki opted to prioritize its community’s well-being by transforming the pre-sale into a free distribution (airdrop) for qualified participants instead.
In connection with this choice, the Simon’s Cat team will receive a payment of $223,815.20 from Floki. This money corresponds to the earnings that were expected from the second pre-sale, which unfortunately didn’t occur due to advanced bot attacks.
Through this payment, Floki guarantees that the Simon’s Cat crew gets the expected financial assistance, even though the pre-sale was called off.
3.5% of the total CAT token supply (amounting to 315 billion tokens) will be distributed among qualified Floki holders, indicating that they are eligible to receive a share of these tokens.
In order to be eligible, individuals must possess a minimum of 400,000 FLOKI tokens within their on-chain wallets during two specific points in time: the first snapshot on August 22, 2024, and the final snapshot on August 29, 2024. It’s important to note that moving your tokens off-chain during these periods will make you ineligible for the airdrop.
At a crucial juncture, Simon’s Cat Token has just launched on the platform KuCoin, which happened on August 20, 2024. This token gains strength from official backing and copyright ownership from the original Simon’s Cat company, lending legitimacy to the venture.
Floki’s choice to assign $223,815.20 towards the Simon’s Cat group indicates a strong belief in the token’s future success.
Furthermore, Floki’s actions underscore their strong devotion to protecting the well-being of their community. Their initiatives such as compensation and airdrops are designed to promote fairness and openness, further strengthening their dedication to their partners.
The airdrop is designed to distribute CAT tokens to 3,707 authentic Champion tier users, each receiving roughly $55,345 worth of tokens according to presale valuation. Furthermore, Floki has filtered out and excluded 337 wallets that appeared to be involved in botting attempts, ensuring that only genuine community members profit from the airdrop.
Through rewarding the Simon’s Cat team and transforming the pre-sale into an airdrop, Floki showcases its forward-thinking strategy in ensuring a balanced and inclusive atmosphere for its community members.
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2024-08-22 23:17