• Binance will issue 900 billion CAT tokens to FLOKI holders on August 29, 2024.
• On-chain holders of 400,000 FLOKI will receive 315 billion CAT tokens.
• 5% of CAT stock will be allocated to Floki Trading Bot users for 30 days.

Floki ($FLOKI) token holders will receive a substantial airdrop of Simon’s Cat ($CAT) tokens. The airdrop is part of Simon’s Cat’s launch strategy and highlights the growing importance of memecoins in the cryptocurrency market.

The airdrop, scheduled for August 29, 2024, will be facilitated by Binance, the world’s largest cryptocurrency exchange, marking a notable integration of new assets into the market.

Binance Supports Simon’s Cat Airdrop

Binance plays a crucial role in the airdrop by crediting CAT tokens directly to FLOKI holders on its platform.

Binance will take a snapshot of FLOKI holdings on August 29, 2024. To qualify, users must hold at least 400,000 FLOKI tokens, which translates to approximately $50 at current prices.

The airdrop will distribute a total of 900 billion CAT tokens, representing 20% ​​of Simon’s Cat’s total supply allocated to the Floki community. This move is intended to increase user engagement and expand Simon’s Cat’s reach within the crypto ecosystem.

On-chain airdrop and trading bot allocation

In addition to the Binance-supported airdrop, Simon’s Cat will also conduct an on-chain airdrop. This distribution will provide 315 billion CAT tokens, equal to 3.5% of the total supply, to FLOKI holders who keep their tokens on-chain.

To be eligible, holders must hold at least 400,000 FLOKI tokens and the airdrop will be proportional to the amount held. Two snapshots will be taken: one on August 22, 2024 and a final one on August 29, 2024. To be eligible, participants must hold their tokens through both snapshots without transferring or selling them in between.

Additionally, 1.5% of CAT supply will be allocated exclusively to users of the Floki Trading Bot for 30 days. The exact details of this distribution will be revealed in a separate announcement. Other centralized exchanges are also expected to host CAT airdrops, with details still to be finalized.

This airdrop strategy highlights the continued popularity of memecoins in the crypto market, despite recent slowdowns in trading volumes. As the memecoin craze continues, initiatives like these continue to drive enthusiasm and participation in the cryptocurrency space.