CateCoin (CATE) Overview
CateCoin is a cat-themed meme coin developed to offer stable earnings to users while valuing the efforts of meme creators (memers) using blockchain technology. The platform utilizes decentralized finance (DeFi) features that enable users to safely earn benefits by creating memes.
Purpose of CateCoin
CateCoin aims to encourage memers to showcase their talent and earn rewards in return. The ecosystem uses a decentralized exchange (DEX) platform where memers can post their creations and earn rewards based on their engagement. Memers can also create NFTs for approved memes and earn rewards from them. CATE is the native utility token available on the CateCoin network.
Rise of Cats and Tokenomics
CateCoin introduced Rise of Cats, a play-to-earn game that allows users to enjoy and earn simultaneously. The ecosystem uses a reflection mechanism where 2% of every transaction is redistributed among the users as rewards. Additionally, 1% of the transaction is burned to maintain a deflationary effect.
The maximum total supply of CateCoin is estimated to be 100,000,000,000,000 CATEs. For tokenomics, 33% of the total supply is reserved for the ecosystem, 10% for the market and team, 7% for liquidity, 5% for development, and 45% for burn and supply.
Creation of New CateCoins and User Rewards
Users can stake CATE tokens in their DApps and earn a 15% yield in the form of CATE tokens. Users are also rewarded with CATE tokens for the tokens in their wallet since 2% of every transaction on the platform is distributed among the holders. The play-to-earn facility also rewards holders with CATE tokens while playing the game.