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Catslap prepares for $1M token burn today, boosting price and excitement around slap-to-earn and Zealy quests.
The buzz surrounding Catslap (SLAP) continues to grow as the team gears up for the next big event in the project’s history: a $1 million token burn scheduled for today.
This strategic move aims to bolster the token’s price as the community continues to engage in the innovative Slap-to-Earn and Zealy quests airdrop campaigns.
Catslap’s team announced this monumental token burn via a post on X yesterday, solidifying their commitment to driving value for SLAP holders.
They also revealed the end date for the first slap-to-earn season, which will draw to a close on January 10th next year. The top 10 slappers will earn a slice of a $100k USDT prize pool, which has prompted a new flurry of slapping activity.
$1 million Catslap token burn and its impact
So far, 140 million SLAP tokens, valued at $456,500, have been removed from circulation based on the burn dashboard. After today’s additional $1 million burn, the total burn amount will be close to $1.5 million, significantly reducing token supply and setting the stage for a potential price rally.
Adding to this effort is Catslap’s ongoing buyback program, which executes token buybacks every 20 minutes. To date, the program has removed 124 million SLAP tokens from circulation.
The combined effect of the token burn and buybacks caused a 7.5% uptick in the SLAP price yesterday defying the current market trend.
However, the price has dropped slightly again alongside other top cryptos. This is on-trend for both the market conditions and token burns which often have a more long-term price impact.
Normally, it takes a while for the true effect of the new scarcity to be felt, and we could see a strong SLAP price rally in the coming weeks after the broader market readjusts.
Engagement soars through slap-to-earn and Zealy quests
Catslap’s community engagement has been a key driver of its success. The slap-to-earn season 1 campaign, set to end on January 10, 2025, has attracted headline-worthy levels of participation.
The Slapometer has recorded a staggering 1.239 billion slaps, thanks to a combination of on-site slapping activities and the Zealy Community Slapdrop Campaign.
Participants in the Slapdrop campaign can climb leaderboards for a chance to win a share of the $100,000 prize pool. Beyond the top 10 leaderboard positions, all eligible participants will receive SLAP tokens based on their ranking.
https://twitter.com/CatSlapToken/status/1869700705097060665
The Zealy leaderboard alone has over 500 community members taking part. The integration of on-site slapping with Zealy’s quest-tracking platform introduces a unique XP-to-SLAP exchange rate: 1 XP earned on Zealy equates to 1,000 slaps on the website.
To participate, users must first hold SLAP tokens and complete the “Best Wallet Address” quest on Zealy. Then, there’s a range of quests available to earn thousands of slaps and boost your placement on the leaderboard.
Verification processes for wallet addresses submitted through Zealy may take some time, as announced in a Telegram update.
Catslap’s community and influencer backing
The Catslap community has grown rapidly, with over 20,000 non-custodial wallet holders and $3.8 million in token liquidity — 54% of which is locked for six months.
Influencers like YouTuber ClayBro, who boasts a following of 134,000, have expressed optimism about the token’s price trajectory, further fueling anticipation.
On CoinMarketCap, the community sentiment is overwhelmingly positive, with 93% of voters bullish about Catslap.
For those looking to join the Catslap frenzy, SLAP tokens are available to buy on MEXC, KCEX, Best Wallet, the Catslap website’s exchange widget, and Uniswap DEX.
The project has been audited by SolidProof and boasts a 99/99 reliability score on DEXtools.
What’s next for Catslap?
As the token burn begins, excitement within the Catslap ecosystem is building. Today’s burn could mark a turning point for SLAP holders, offering a unique opportunity to capitalize on potential price momentum in the coming days.
With season 1 of slap-to-earn and Zealy quests in full swing and the leaderboard competition heating up, we could see even higher levels of engagement as the community vies for the top spot.
To learn more, visit the CatSlap website, X or join its Telegram for the latest updates.
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