With Dogecoin exploding into the top 10 ranked cryptocurrencies, it’s no surprise that there was a strong wave of doggy clones. Every token was meme-based, either centering around dogs (from Doge) or Elon Musk himself.
Some enjoyed some epic pumps, but not many of them survived as another recycled clone always appeared to the point where people started to get tired of the same thing.
Well, if you are tired of the Doge/Elon clones, there is a new animal in the mix that sits very close to our hearts. Today, we would like to introduce you to Catnip Money – the only cat that can survive in this vast Elon-inspired dog kennel.
So, if you are a fan of fair launches, groundbreaking technology, and most of all, adorable little felines, then $CATNIP might just be the right fit for you!
Catnip – Magic Internet Money 2.0
Catnip Money is in its very early days after launching on April 28th, when it went live on the Binance Smart Chain. Its Telegram group had soared past 2,000 members as cat-lovers, and crypto fanatics flocked into the community within hours. Most of all, it seems to be highly active, with over 50% of members online regularly.
The project generated so much appeal due to its provably fair launch. It managed to raise 250 BNB in seconds as investors piled in when their ICO went live. They implemented presale limits, so there was just 1 $BNB worth of $CATNIP available to purchase per account.
In the spirit of Dogecoin, there is a total supply of 1 quadrillion $CATNIP tokens. 95% of this went straight to the community through the presale and the liquidity pool. The liquidity was immediately locked until 2069, meaning that the project can NOT be rugged.
Only a tiny 3% went toward marketing and development, with the rest of the supply going to the IDO platform fee or bunt.
The team paid particular attention to the tokenomics of the project to provide sustainable gains for its holders. It achieves this via the protocol applying a “moon-tax” of 7% to each transaction which also prevents front-running within the market.
4% of this tax goes straight into the liquidity pool to “auto-inject” liquidity to provide sustained increases in liquidity. Alongside increasing liquidity, this also causes the circulating supply to decrease – reducing the total supply available to prospective buyers and helping to increase the price:
The other 3% of the “moon-tax” goes straight back into the pockets of holders. This means that your $CATNIP balance is continuously increasing when transactions are occurring on the blockchain. It turns the project into a self-yielding token, without having to stake or provide liquidity anywhere!
The last thing to mention on the tokenomics side is their Whale Control feature. They have implemented a maximum buy of 1% per transaction to stop whales and bots sniping large percentages of the supply to help protect holders against volatility price shocks.
The First Generation of Yield Generating NFTs
As for innovative tech, Catnip Money will be the first project to launch yield-generating NFTs. All holders of these special NFTs will be entitled to enjoy passive rewards in the form of their upcoming liquidity rewards token called PURR.
The PURR yield rate will be determined by the Attack rating of each individual NFT.
Initially, the team was intending to provide all presale participants with one NFT each. However, it seemed that bots sniped a large proportion of the ICO, so in the team ethos of fair distribution, they have decided to provide the Top 100 holders of $CATNIP ann NFT instead of delivering it the bots. Additionally, they will conduct a lottery of 100 Catnip Yield NFTs for token holders outside of the top 100 – giving everybody a chance to get hold of one.
The BEST part about these groundbreaking NFTs is the fact that they autonomously help to support charities – in perpetuity!
A percentage of each PURR transaction is sent directly to the wallets of different charities through the PURR smart contract. The team will work directly with the charities to set up their BEP-20 wallets so they can receive the donations.
The NFTs will be distributed through the PURR Garden Faucet, and the PURR token itself is slated to launch in early Q3, 2021. 40% supply will go to $CATNIP holders, another 40% will go to NFT holders, and 20% will go to LP owners.
Catnip Money is genuinely trying to stand out from the crowd of doggy/Elon Musk clones that have plagued the sector. It is evident that people are getting tired of the identical recycled clones, and $CATNIP might answer their frustration.
There are many other things to get excited about on their roadmap, including an ILO Presale, a host of different audits, exchange listings, the Catnip Money Podcast launch, and an NFT Marketplace.
With their strong tokenomic model and their groundbreaking NFT solution that will also support charities, Catnip Money certainly does have the foundations to become a solidified member of the entire industry.