Catecoin, a highly profitable ecosystem and competitor to Shiba Inu and Dogecoin, has launched CatPay, Live Mint reports.
The platform introduces a play-to-earn game called Rise of Cats, and the new token will be used to reward players within the game, similar to how Axie Infinity awards SLP to its players.
CatPay will serve as a universal in-game token. It can be used to pay tournament entry fees, upgrade in-game cats, and unlock various future features. Players will also be able to earn CatPay tokens while playing.
Tokens spent in-game will be burned
All CatPay tokens spent on in-game upgrades and a portion of CatPay from tournament fees will be burned to help control inflation. Additionally, 1% of marketplace transaction volume will be allocated to buybacks and burning of CatPay.
There will also be a staking platform where users can stake Shiba Inu and other popular meme coins to earn CatPay.
High ROI anticipated
Within months of Catecoin’s launch, early investors who put in as little as $100 reportedly saw gains of $50,000. While some hope CatPay will deliver similar returns, it is still too early to make definitive claims, and caution is advised.
Regardless, the introduction of CatPay is expected to boost Catecoin’s price again, potentially delivering returns to investors.
Catecoin is holding a public sale for CatPay. Participation is open to users who stake Catecoin tokens, and the token will also be available for purchase directly on PancakeSwap.
At the time of writing, Catecoin had gained 4.62% in the last 24 hours.