[PRESS RELEASE – Please Read Disclaimer]
The moment has arrived. Binary Cat, the decentralized betting platform where users can bet on the price of crypto assets and the relationship between them on the Avalanche network, is pleased to announce its partnership with Penguin Finance to carry out the launch of its KITTY token.
As of Friday, December 17, the registration phase for the Binary Cat IDO begins on the Penguin Launchpad, the leading incubator of the Avalanche network, one of the top tier blockchain platforms in the industry.
Penguin Finance is a platform powered by Avalanche, building an innovative set of decentralized applications, financial products, and documentation for both tech-savvy people and those with absolutely no cryptocurrency knowledge.
Through the Penguin Launchpad, lovers of decentralized bets will be able to make use of their PEFI tokens (the native token of Penguin Finance), to acquire the first KITTY tokens to be distributed among Binary Cat enthusiasts. There are 12,500,000 KITTY tokens to be offered, and then they will be GONE!
How to join the Binary Cat IDO?
From December 17 at 18:00 UTC and for four consecutive days, users will be able to choose to register for the Binary Cat IDO through the Penguin Finance Launchpad through this link:
After December 21 at 23:59 UTC, new users will not be able to register for our Binary Cat IDO. The IDO registration period will be closed.
Those who successfully register for the Binary Cat IDO will be able to acquire their KITTY tokens from December 22 at 18:00 UTC for five consecutive days until December 27, the date on which the distribution of KITTY Tokens to the happy new owners will finish!
KITTY token is the utility token of Binary Cat. In addition, in the future, the KITTY token will function as a governance token that will allow users to decide on new types of bets, platform fees and platform wagering parameters.
The platform will issue a fixed supply of 100 million KITTY tokens, making it deflationary and quite attractive to early token holders and users of the decentralized betting platform.
Binary Cat has calculated that in a period of 2 years all the KITTY tokens will be in circulation in the ecosystem, with 70% of the supply directed to the Community Pool, thus fulfilling its vision of empowering users and rewarding them for the use of the decentralized betting platform.
Users receive rewards in KITTY tokens (the native token of Binary Cat) as an incentive for betting, even if the user bets for the wrong outcome. The amount of KITTY they receive is proportional to the size of their bet in relation to the entire group of bets. Bets occur in 5-minute cycles; in each cycle, bets on the next time window are open while the results of the last window are being resolved.
With an initial market cap of $562,500, the Binary Cat IDO through Penguin Finance expects to deliver 12,500,000 of the KITTY tokens empowering the Binary Cat community, without a vesting period, to early adopters of the decentralized betting platform.
Do not miss the opportunity to be one of the KITTY token holders! Be part of the decentralized finance revolution with Binary Cat and take advantage of this unique opportunity to be one of the first holders of KITTY tokens through the Binary Cat IDO with Penguin Finance.
About Binary Cat
Binary Cat is a decentralized platform that runs on the Avalanche network where users can bet on the price of crypto-assets and the relationship between them (for example, if the price of Avalanche (AVAX) will go up or down). Bets happen in cycles. In each cycle, bets for the next time window are open while the results for the last window are being resolved.