Catoshi’s weekend roundup; cats and dogs can be friends
This week we have Lil Floki as the next project on The Crossing, 1 year celebrations being planned, and much more
Last week I wrote about a difficult crypto market and since then nothing has really changed. If anything alts have been hit even harder in the last 7 days than in the previous 7 and the market generally seems weak. This could be for many reasons, but we should look at the wider global economy and macro events as significant reasons for why crypto, stocks and gold are all struggling currently. However, compared to many other projects Catoshi is holding up reasonably well. Yes the token price has fallen a little, but nothing compared to the wider alt market. It is likely that the Catoshi token prices have dipped in line with the coins that we are paired with, rather than significant selling pressure of our tokens. This indicates a strong and resilient core of holders that see a bright future for Catoshi and that is what we are working towards every single day.
Lil Floki
This week we announced on Twitter that the next project that we will be launching a bridge for is Lil Floki. On Monday the 16th May the Lil Floki bridge will go live on The Crossing. This will enable token holders to no longer be purely on the BNB Chain, but be able to bridge to and from the Ethereum chain. Investors will also be able to buy the Ethereum version of the token directly without having to bridge at all. This bridge will expand the potential Lil Floki market to those investors who prefer to trade on Ethereum rather than BNB Chain. As we know there is significant trading volume that occurs across the Ethereum network. Being able to tap into that can aid a project that is looking to move forward and spread its wings wider.
Please visit the Lil Floki website, Twitter and Telegram to find out more about the project and what they have planned for the bridge launch party on the 16th.
1 year celebrations
It is nearly 1 year ago, on the 25th of May 2021, that Catoshi was launched. Crypto is a space where it is rare for projects to last a few months, let alone a year. We are very proud that we have not only lasted this time but have grown from being a meme token with a tiny presale and launch, to what we are now, a well functioning bridge tech project with multiple partnerships and ongoing growth. Here at Catoshi HQ we are discussing multiple events and activities that we can provide to celebrate our 1 year anniversary. In the coming week we should have details of what we have planned for the 25th of May, but we certainly want to have the opportunity to celebrate with our community.
NFTs
It is still our intent to distribute the V1 migration ‘thank you’ NFTs by the end of May. This is to show our love and thanks to those V1 holders who used the migration portal when we had our first token swap.
We also have an ongoing NFT design competition. We have started seeing some entries being submitted to the team already and I know that many of the community are working on entries as we speak. We are excited to see what designs our community make and guessing which one our members will vote as the winner. Please see last week’s update for more details, as well as the flyer below;
Website and staking
Progress is continuing well on our new website design. I have seen design ideas becoming more focused and it seems we are at a point where the UI and UX are now being tweaked and finalised before implementation. We are currently writing the website copy to expand the content we have for our services and products. We have grown in regards to what we offer projects and it is only right that our website reflects this in a suitably professional manner.
The staking front end is almost finalised and the backend is being built. We still intend to have staking live by the end of May. I am very excited by our staking offering. As mentioned in the community before, this is not a standard type of staking. Instead it is a bridge fee share to those that lock up tokens. Rewards will be in the tokens of the projects that are using the bridge rather than Catoshi tokens. This means that the bundle of tokens will be broad, reducing the risk of the bundle losing value and increasing the chance that one of the tokens will be a ‘moonshot’. It also means that unlike standard staking rewards there will be no sell pressure on our chart. The rewards are directly linked to bridge volume, so as the project grows the bridge fees being distributed will also grow. This is realistic and sustainable, built on traditional economic and business ideas that rewards should be in relation to income.
Partnerships and on-boardings
As we have discussed over the last few weeks we are in discussions with various 3rd parties regarding partnerships. These are progressing well. I am confident that the update next week will be rounding up the week’s news that will include a partnership announcement. We are very excited about what is coming and we cant wait to be able to discuss the positive impact and implications of the partnerships.
We have an on-boarding going live in 8 days as mentioned at the top of this article. There is 1 other that we are close to announcing and a further 5 that are progressing through the early stages of the on-boarding process. Despite the market being very quiet we are still receiving enquiries about our services and that is very positive indeed.
Just as previous weeks the bounty of $1,000 is ongoing. If you can connect a project to the Catoshi team and the project then onboards, you will be eligible to receive $1000. We have already seen community members receive bounties. There is no limit to the amount of bounties a person can receive, therefore if you successfully connect 10 projects and they are onboarded you could be eligible for $10,000. Please ask a team member for further details.
Have a great week ahead everyone. Please come and see us in our Discord and Telegram groups, we always value community input and engagement.
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