Floki announced the completion of the airdrop of Simon’s Cat ($CAT) tokens, inspired by a popular cartoon series. This event aimed at rewarding Floki Inu ($FLOKI) holders with free $CAT tokens.
$CAT: New airdrop for $FLOKI holders
The airdrop was aimed at rewarding Floki Inu ($FLOKI) holders with free $CAT tokens, with the distribution taking place across major exchanges like Binance and OKX. No action was required from participants to receive the tokens as they were directly deposited into eligible users' wallets.
$CAT token distribution
To qualify, users needed to hold at least 400,000 $FLOKI tokens. The tokens were then distributed proportionally based on the amount of $FLOKI held at the time of the snapshot. According to the official statement from Floki, 3.5% of the total $CAT token supply, equivalent to 315 billion tokens, was allocated for this airdrop. The distribution was based on two snapshots taken on August 22, 2024, at 12:00:00 UTC and on August 29, 2024, at 23:59:59 UTC. Holders who met the criteria were automatically airdropped $CAT tokens, with no need to claim or connect their wallets. Withdrawals for the airdropped tokens were made available on Binance and OKX. However, users holding $FLOKI on-chain needed to manually import the $CAT token contract into their wallets to view the tokens. In addition to the airdrop for $FLOKI holders, Simon’s Cat allocated 1.5% of its total token supply to users of the Floki Trading Bot. This portion will be distributed over a 30-day period as a reward for trading $CAT using the bot.
Snapshot error causes disruption
Despite the excitement surrounding the airdrop, not all users were able to enjoy their free tokens. An issue arose due to an error in the initial snapshot date used by Binance, which was set for August 24 instead of the correct date of August 29. As a result, some users received excess $CAT tokens, while others didn’t receive any. In response to the issue, Binance temporarily suspended $CAT withdrawals and began reprocessing the airdrop. Binance is working to recover the excess tokens from users who received more than they were entitled to and redistribute them to those who received less or none. Binance has set an estimated deadline for completing this process by the end of September 11. Some users who withdrew the excess tokens distributed to them will not be required to return them as Binance has committed to covering the shortfall and ensuring all users receive the correct amount of $CAT tokens. Floki reassured its community that users will see the adjustments reflected in their Binance records once the reprocessing is complete.
The completion of the $CAT token airdrop for $FLOKI holders was a significant event for the community. Despite the error that occurred, Binance and Floki took measures to rectify the situation and ensure fair token distribution.
