Place/Date: - December 22nd, 2021 at 1:30 pm UTC · 3 min read
The moment has arrived. BinaryCat, 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 BinaryCat 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 BinaryCat enthusiasts. There are 12,500,000 KITTY tokens to be offered, and then they will be GONE!
From December 17 at 18:00 UTC and for four consecutive days, users will be able to choose to register for the BinaryCat 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 BinaryCat IDO. The IDO registration period will be closed.
Those who successfully register for the BinaryCat 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 BinaryCat. 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.
BinaryCat 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 BinaryCat) 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 BinaryCat IDO through Penguin Finance expects to deliver 12,500,000 of the KITTY tokens empowering the BinaryCat 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 BinaryCat and take advantage of this unique opportunity to be one of the first holders of KITTY tokens through the BinaryCat IDO with Penguin Finance.
BinaryCat 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.