Floki has announced the completion of the airdrop of Simon’s Cat ($CAT) cryptocurrency tokens, inspired by a popular cartoon series. The event aimed at rewarding Floki Inu ($FLOKI) holders with free $CAT tokens, distributed across major exchanges like Binance and OKX.
$CAT Token Distribution
To qualify for the airdrop, users needed to hold at least 400,000 $FLOKI tokens. The $CAT tokens were 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. Eligible users automatically received $CAT tokens with no need to claim or connect their wallets. Withdrawals for the airdropped tokens were made available on Binance and OKX. On-chain holders of $FLOKI 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 has reportedly 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. Further details about this specific distribution will be provided in an upcoming post.
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. 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. Binance has set an estimated deadline for completing this process by the end of September 11. Additionally, 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 marked a significant milestone for Floki and $FLOKI holders. Despite some issues, necessary adjustments will ensure that all users receive the promised tokens. Further details on the ongoing distribution are expected soon.
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