CATIZEN Will Close CATI Token Pre Deposit Channel Today
2024-09-18
Bittime - CATIZEN, a leading blockchain project, has announced that it will close the pre-deposit channel for CATI token exchange at 18:00 Singapore time.
Once the pre-deposit channel is closed, all users will only be able to top up CATI airdrop tokens via the blockchain, and on-chain tokens will be distributed after the CATI TGE on the 20th.
Replenishment Process Via Blockchain Network
After the closure of the pre-deposit channel, users who wish to top up CATI tokens can only do so via the blockchain network. This refill applies specifically to CATI airdrop tokens.
The on-chain token distribution process will begin after the event Token Generation Event (TGE) CATI which is scheduled to take place on September 20, 2024. This token distribution follows the general mechanism in the TON project ecosystem, where distribution usually takes about one week after the TGE takes place.
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User Enthusiasm for CAT Staking
In addition to the announcement of the closure of pre-deposit channels, the number of participants engaging in CATI staking activities to acquire exchange tokens showed high enthusiasm.
To date, nearly 1 million CATI holders have participated in the staking program. In this total participation, 14.4 million CATI was staked, representing more than 10% of the total CATI circulation at the time of the TGE.
Market Impact Prediction
With the high participation and number of tokens staked, this staking activity is expected to influence CATI price movements after TGE. The more tokens are staked, the less supply available on the free market, which could trigger price increases.
On the other hand, the distribution of tokens via on-chain methods after TGE will introduce new liquidity, so the balance between supply and demand will be tested in the coming weeks.
Conclusion
The closure of the pre-deposit channel and the high enthusiasm for staking marks an important moment in the development of the CATIZEN ecosystem and the CATI token.
With more than 14.4 million tokens staked and token distribution about to begin, investors and market observers will continue to monitor the impact on the value of these tokens post-TGE on September 20.
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