Kattana’s IDO on Polkastarter took place in two pools: POLS and non-POLS. Both pools were bought in an organized manner without any major issues. Once the IDO concluded, KTN was available to freely buy and sell on Uniswap, where it has been successfully trading to this day. KTN is also listed on Coingecko, CoinMarketCap, Delta, Gate.io, and beyond.
Part of what made Kattana’s IDO and Uniswap listing so successful was the ability to solve the sniping bot problem that’s been plaguing Uniswap listings for months.
As background, using sniping bots to buy up the tokens of a project as soon as it lists on Uniswap (or other AMMS) is an easy, automatic way to grab a large number of tokens before the general public can, limiting initial liquidity and interfering with natural price discovery of a token. While legal, this practice is unfair to everyone who doesn’t have a bot. However, stopping sniping bots has proven nearly impossible, though many have attempted to do something about them. Kattana may have finally found a solution.
Kattana has recently become part of the Dexe Network ecosystem. Taking advantage of that, the project used Dexe to provide anti-sniping bot protection for Kattana’s Uniswap listing. And it worked. Here is how:
- The sniping bots were able to snipe (purchase) KTN tokens on Uniswap., BUT
- They are unable to sell or move them; at all; ever
So now, all those using sniping bots to buy KTN tokens for a quick flip or to otherwise disrupt natural price discovery are stuck. Here are the 3 sniping wallets — you can see the KTN tokens stuck in each:
They spent the ETH but cannot profit from those sniping transactions. One bot was trapped this way for over 100 ETH (around $200k at the time). So the next time they consider sniping a listing, they’ll certainly think twice.
Meanwhile, the KTN token is trading naturally on Uniswap with anyone free to buy and sell it manually. The IDO price was $1; the current price is around $20. For holders of KTN, there’s a nice “bonus” of the anti-sniping trap in that all those sniped tokens are stuck forever — effectively being burned, decreasing the total circulation of KTN.
Ultimately, Kattana was able to implement an orderly IDO and listing, giving access to both early adopters and the general public.
Kattana actually started its route from CeFi, where it has been running under the radar, providing viable top-grade trading tools that assisted traders in their trading journey. As the crypto market does not stand still and as new Now, Kattana is bringing pro-level graphs and tools to the DeFi market to let anyone trade DeFi like a pro. The Kattana terminal allows users to trade in real-time via over 40 DEXs, with advanced order types and highest-quality-charts, and enjoy many other tools previously not even heard of in DeFi.
Disclaimer: Also be aware that this article is of informational nature only. Nothing in this article shall be deemed as a final binding offer or advice of any kind. Moreover, the information in this article may be subject to change. Also, you shall understand the nature and status of digital and cryptocurrencies as this is solely your responsibility to face any and all risks associated with them. In addition, nothing in this article shall be considered as advice of any nature (legal, financial, investment, etc.). In no event, Kattana recommends you making any action with your digital and cryptocurrencies. In all and any event you shall first make your own investigation and/or due diligence, then advise with a respective professional, and only after that, you may decide on any action with digital and cryptocurrencies to be made with Uniswap or KTN. And the last one thing, Kattana shall not be liable and accept any losses, damages (as a consequence of losing profit, etc.), which may arise directly or indirectly after using the information out of this article.