Floki announced the completion of the Simon’s Cat ($CAT) token airdrop, a cryptocurrency inspired by the popular cartoon series. The event aimed to reward Floki Inu ($FLOKI) holders with free $CAT tokens.
$CAT Token Allocation
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.
Snapshot Error Causes Disruption
Not all users were able to receive their free tokens 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. Binance temporarily suspended $CAT withdrawals and began reprocessing the airdrop. The exchange 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.
Conclusions and Adjustments
Some users who withdrew the excess tokens will not be required to return them, as Binance has decided to cover the shortfall and ensure correct $CAT token distribution among all users. Floki assured its community that all adjustments will be reflected in users’ Binance records after the reprocessing is complete.
The completion of the Simon’s Cat token airdrop was a significant event for $FLOKI holders. Despite the challenges and errors in the process, the Floki team and Binance are working to correct the situation and ensure fair token distribution for all users.
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