Catizens Burns 5 Million NOT in Token Reduction Effort
CryptoNewsTerminal Staff21 May, 2024
Catizens Burns 5 Million NOT in Token Reduction Effort
Catizens, the popular cat-breeding game on the Telegram Open Network (TON) blockchain, has announced a significant token burn that will remove 5 million NOT tokens from circulation. This burn is part of the game's ongoing efforts to increase the value of its native token and support the growth of the TON ecosystem. The NOT tokens being burned represent 10% of the revenue generated by Catizens through its partnership with NOTcoin, the largest mini-game in the TON ecosystem. The burn is expected to reduce the circulating supply of NOT tokens, making them more scarce and potentially increasing their market value. Catizens has previously announced a partnership with NOTcoin, which allows players to deposit and withdraw NOT tokens within the game. The partnership also provides players with exclusive benefits, such as gift boxes and other rewards. The token burn is a positive step for Catizens and the TON ecosystem as a whole. It demonstrates the game's commitment to sustainability and its belief in the long-term value of its native token. By reducing the circulating supply of NOT tokens, Catizens is creating a more favorable environment for investors and players alike.
