The Diary Of An Airdop Hunter
Yesterday was a very sad day for airdop hunters and farmers in the Telegram game Catizen. So what happened was that yesterday was Catizen's TGE (token generation event), and it was previously announced that 43% of the one billion coin would be distributed to the community (approximately 25 million players), but after the TGE, it appeared that Catizen had changed the rules of the airdrop.
As a result, the community received 15% rather than 43%. Binance Launchpool received 9%, which the teams counted as part of the airdrop. What I believe happened was that Catizen created massiveFOMO by coaxing Binance to list CATI, and the 9% was the actual incentive given to them, without which Binance might not have listed CATI.
Unfortunately, this last-minute Binance listing announcement drew a lot of other players who came into the game at the last minute and pumped a lot of money into the game.
VC can get Greedy
I believe the VC behind Catizen asked for too much after seeing how successful the game had become and became greedy, resulting in a significant reduction in the 43% promised to the community.
So, in the end, those who played the game without investing any money received almost nothing. While people who spent money will probably get about 2X their investment. This is because CATI premarket is about 0.8$ and it may just be listing around that 0.8 to 1$.
Listing Price
Although CATI may list above $1, if it lists between $3 and $5, it is possible that they will eventually redeem themselves for the small allocation they gave to people. However, it appears unlikely. Many people made significant sacrifices over the course of six months, but it was a waste of time without financial investment.
I thought I was the only one who took the risk of investing between $40 and $45; however, thousands of others did. These people saw the potential profit, and I did as well, but at the end of the day, the greed of the VCs who backed the game, or perhaps the DEVS, has made this airdop less rewarding.
Anything less than a $5 listing would be unprofitable for players who did not invest money. At one dollar, I will most likely double my investment, but I will lose the effort and time I put into the game. I expected this game to be an x20, but it appears that an X2 will be the highest anyone can achieve.
Do I actually regret it?
I don't; everyone else saw massive opportunities and good money, but when a project becomes too successful, they get carried away by the wealth and find it difficult to share with those who made it possible. I invested some Hive into farming this one, and I return back that investment when I sell the token on the listing date (September 20th) since there's actually no profit coming from this one.
You will have massive success and make a lot of money in the airdop space, but most of the time it will be a complete failure and a waste of time. This time, it is one of those situations.
So, the team has promised an extra reward for those who continue the game, but I am done. When DEVS demonstrates an untrustworthy side, what makes you believe an epic fail will work out in the future?
That is an uncalculated risk with a small chance of success.
Try Another Day
Again, it was a good attempt, but it failed completely. I am farming other Airdrops, and I still believe I will see a potential $200 that I can use to purchase Hive before the end of the year, God willing. If not, that is fine; a risk can be rewarding or not, but you will not know unless you try.
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That sucks when stuff like that happens... Success gets people greedy...
Hopefully some of these others will pay off better!
!hiqvote
It was a big dent on my motivation lol, but what can I say, I think I have to continue taking the risk..
Greetings @josediccus ,
Sorry to hear it.....What a disappointment for so many.
Hope you are well.
Kind Regards,
Bleujay
Indeed a huge disappointment, but if we don't ww regularly take risks in life, so I just think that this is one of those failed ones.
Catizen turned the game upside down, most people didn't believe it when the saw their allocation, likewise me, I was out of words, but the deal has been done, and I do not think a lot of people would want to further 🥰🙏
It's such a sad experience and many people are sad. My mobile phone battery is not the same anymore and I thought I good easily make some good profit to take care of things with my little investment
It still going to be a win if it's get listed above $1, worst of it is below $1.
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Sorry about the situation, hope the next one is better. I keep hearing how much gaming and crypto activity is happening in TG though. Is it worth spending time on?
I think we can never really know which one is worth it. Most of the times you're involved in about 10 to 12 and at the end of the day, only brownie eventually worth it, but we gotta hustle and take the risk
Telegram is taking the spotlight on the crypto games and I wonder how long this hype will continue. I will follow up the Hamster token launch on Binance and if you played that I will keep an eye to read your story about it and if it was worth the time.
I'll definitely talk about hamster when it's over, but I'm evening begining to think it might be one of those biggest fails, but then, but it can actually surprise us.
🎉 Upvoted 🎉
👏 Keep Up the good work on Hive ♦️ 👏
❤️ @bhattg suggested sagarkothari88 to upvote your post ❤️
Thanks
Yeah, I heard about how they turned things around and people tagging them as Scams. I do agree that they got greedy for going back on their words, which isn't nice.
It isn't really a scam, I just think they didn't give people the allocation they deserve which is really bad
Seriously, with the hype and everything, my expectations were high. Only to see almost nothing as my allocation.
Well, unto the next one.
Well you gotta spend some money, and only then you x2 your investment and all that
Hi Joe... good morning
I have been speechless since after cati allocation.... like effort doesn't matter anymore but money... someone who invested $5 few hours before the snapshot happened got 52 cati tokens...he didn't burn his time and energy like most of us has been doing since the past three months merging all the cats in the world,!
I really think it's better a project come out plain and state clearly their criteria for giving airdrop to players and not doing as they like...
Currently, I have two airdrop I am pursuing which are about to list and they are requesting for 0.5 ton each as a must ton transactions to receive their airdrop
To be frank, I am skeptical...I can comfortably spend this money but will it be guaranteed? How do I cross check to be sure I am not just doing the transaction because of what happened to me on catizen?
Yes, it turned out that they weren't really valuing playing time. You could have come in to invest at the last day and got what they'll give for participating. Unfortunately if I had known about this, I'll have just thrown money into one part of the game and x3 my investment, but at this rate, I've only managed to x2 my investment and didn't get anything for all the effort, the log-ins and all the commitment.
As for rocky rabbit, if you have the money and willing to take the risk, then you can go ahead. It might profit you very well or it might just be an epic fail. For me, I've decided I'm not going to spent 2.8$ as gas fee for rocky rabbit.
It's not only rocky rabbit but x empire too
Don't know how serious these ones are
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yea Catizen disappoints people, it is a pay-to-earn project
I think a lot of people are now into farming airdrops which makes it harder to see an airdrop that will give good amount, crowd is a problem, i also believe i will hit a jackpot with one airdrop
In reality, notcoin made that very possible. I think after Catizen, many people might just retire. It was a time wasting project and the devs are smiling to the bank
The difference between Catizen and not coin is the total supply
Notcoin Ts was 100 billion which was More than enough to fulfil their promise
yea.. people are already getting tired of airdrops due to unfortunate past events re occurrence, some didn't pay at all while some pay dust, I am not giving up yet tho , but i will if hamster, memefi and tomato fuck up too
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It sucks to hear that the game developers were greedy. I guess the listing is the only positive thing, but it sucks to see that they screwed over all the airdrop hunters. I guess you can only hope that things work out.
It was a high risk stuffs, deep down we knew anything could happen but we still took the risk afterall, no one knows if the risk would have paid off or not. I guess this time it didn't
I just laughed out loud when I read the topic. Airdropping isn't an easy task. It will steal your time and other resources. Phew, Catizen really did us shege, imagine the unreasonable allocation to the community with all the hype and noise people made about them.
It was a bad business indeed but we move to the next ones hoping something good comes out of them.
It was a bad business indeed, I didn't really think they would do like that because the airdop felt promising. We felt that with all the money they raised from the game, that players would earn for their efforts and investment
Lots of them allow greed to take over which is not good.
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The devs and everyone in the catizen team are shit. They always said play for the airdrop like it was the only thing that mattered. I made my pc work for me in the last days thinking i'd get good rewards only for them to change their criteria.
I didn't invest money into the game but the time I wasted in playing could have been used for something far beneficial. Just like you I am done and I am not in for any season 2 nonsense.
You played for the Airdrop and you were dropped, lol. It was such a disappointing venture considering the time wasted completing those tasks.
!DOOK
You just got DOOKed!
@luchyl thinks your content is the shit.
They have 6/10 DOOK left to drop today.
Learn all about this shit in the toilet paper! 💩
It was much worse for people that didn't put any money and even worse for those that started six months ago without putting any money. 70% of people wouldn't play their season two
There's much rage on X and for a good reason, the allocation is really so low and the Devs appear to be very greedy. Well, win some, loose some is the game of life.
Exactly, VCs can be really greedy, but we thought this particular project would be reasonable with their allocation.
My husband was introduced to the airdrops but he is not serious on it
Absolutely boss!!
This particular airdrop caused stir and after the snapshot, the allocation was mind blowing and very very disappointing. For me, I don't even think I would make anything out of it.
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imagine that I got the same amount of tokens as friends that joined days to the distribution even though I've played the game for months now. Anyway let's hope for the best, project developers can be funny at times. All eyes now on HMSTR, Blum, OEX and others to console us for what we lost with Catizen.
Thanks for writing and have a good day.
VCs are almost always greedy, especially when they smell potential success. I'm sorry this didn't work out for you as you expected, but at least you recouped your investment. As for time invested... well, there's always an opportunity cost when choosing between activities.