Binance has recently announced the addition of two new tokens, Simon's Cat (CAT) and Pudgy Penguins (PENGU), to its platform. These tokens will be part of Binance's HODLer Airdrops program, which rewards users who hold and subscribe their BNB tokens to the Simple Earn feature.
The airdrop distribution will include 1.143 trillion CAT tokens and 2.67 billion PENGU tokens. Trading for CAT will begin on December 17 at 09:00 UTC, followed by PENGU at 14:00 UTC on the same day. Both tokens will be available for trading against popular pairs such as USDT, BNB, FDUSD, and TRY. This move not only diversifies Binance's offerings but also provides users with new opportunities to engage with emerging projects in the cryptocurrency space.
The HODLer Airdrops program simplifies the reward process for Binance users by automatically calculating distributions based on their hourly average BNB balances in Simple Earn products during the eligibility period. By participating in the airdrop, users who subscribed their BNB tokens to either Flexible or Locked Simple Earn products automatically qualify for rewards. Eligible users can expect to receive their CAT and PENGU tokens within 24 hours of the announcement, just before trading begins. This streamlined process enhances user experience and encourages long-term holding of BNB tokens.
The CAT token has a maximum supply of 9 trillion, with 8.1 trillion currently in circulation. Following the airdrop, the circulating supply will increase to 7.89 trillion tokens. The recent surge in CAT's value indicates strong market interest and investor confidence in the token's potential. On the other hand, the PENGU token has a total supply of 88.89 billion tokens, all of which have already been minted. The airdrop will distribute 2.67 billion PENGU tokens, leading to approximately 62.42 billion tokens being in circulation upon listing. Pudgy Penguins plans to expand its ecosystem by launching its token on the Solana blockchain by late 2024.
Binance's HODLer Airdrops program offers users a straightforward method to earn additional tokens. It leverages historical snapshots of user balances to calculate rewards, making it an appealing option for those seeking passive income opportunities. The introduction of CAT and PENGU reflects Binance's dedication to expanding its portfolio and catering to the growing interest in unique and community-driven projects within the crypto space. With the upcoming trading launches, both tokens are expected to attract significant attention from investors and traders, solidifying Binance's position as a leading player in the industry.