Decentralized Autonomous Organization (DAO) Floki has announced that it has made a significant investment in the new CAT token, based on the popular animated series Simon’s Cat. Accordingly, Davy Fluke has decided to allocate 200,000 USDT of its treasury budget to purchase CAT tokens, which represents its strategic entry into the world of entertainment-related memecoins.
Simon’s cat animation is a humorous show of a playful cat and its owner. With the launch of this memecoin, the brand may be aiming to use blockchain technology to expand engagement and generate more revenue.
According to reports, 97.72% of Dao Floki members have supported the investment. Therefore, this Dao will hold CAT tokens as a strategic asset in its treasury.In this regard, Binance has also announced the CAT token airdrop for Floki holders on its platform.
To this end, Binance will distribute 900 billion CAT tokens to eligible Fluke holders. To be eligible, users must have at least 400,000 Floki tokens in their Binance accounts, which equates to around $50 at current prices. According to Binance, this airdrop is based on a snapshot that will be taken on August 29, 2024 at 23:59:59 UTC. The proportion of distributed tokens also depends on the total number of Floki tokens held by the user in Binance at the time of the snapshot.
These supports have caused a significant increase in the value of Floki token. At the time of writing, Floki is trading at $0.00014, up nearly 20% over the past week.
