Simon’s Cat Describes Itself As:

Simon’s Cat Token ($CAT) is the memecoin of Simon’s Cat, a beloved animated series created by Simon Tofield. The project marks the first foray into the blockchain industry for Simon’s Cat, and was launched on the BNB Smart Chain in collaboration with prominent partners, including Floki and TokenFi. It is the first major cat-themed memecoin to be initiated on the BNB Smart Chain. 

Simon’s Cat Token looks to capitalize on the brand’s already established global presence, which includes over 1.6 billion views on YouTube and more than 20 million followers across social media platforms. 

Project Function

Simon’s Cat Token is designed to offer fans and crypto enthusiasts an opportunity to engage with the brand in new and interactive ways. The project focuses on community building, existing fandom, and charitable spirit to drive market interest. The token’s mission also includes supporting charitable initiatives aligned with the brand’s values, such as contributing to cat rescue and feeding programs globally.

Token Utility

Simon’s Cat Token was deployed on the Binance Smart Chain (BNB Chain), benefiting from the network’s fast transaction speeds and low costs. The token’s economic model is structured to support growth, community involvement, and long-term sustainability through strategic allocations and burns, however, like many memecoins it lacks inherent utility. Key tokenomics details include:

Total Supply: 9 trillion $CAT tokens.

Burn Mechanism: 10% of the total supply (900 billion tokens) has been burned through the FlokiFi Locker Protocol to reduce supply and potentially increase token value over time. Furthermore, Simon’s Cat follows a deflationary token model, where a portion of transaction is allocated to charity, helping to reduce the supply overtime. 

Token Allocations:

• Presale Investors: 30.00% 
• Liquidity: 25.00%
• FLOKI Holders Airdrop: 18.50%
• Simon's Cat Foundation: 10.00%
• Treasury: 5.00% 
• Market Makers:: 5.00%
• FLOKI Trading Bot Airdrop: 1.50% 
• Reserved for Community Growth: 5.00%

About the Founders

Simon’s Cat token was launched in 2024, inspired by the popular British animated series Simon's Cat. The creation of this token was a collaborative effort between Banijay Rights, which owns the Simon's Cat, and Anonymous Labs, a Web3 marketing and development agency. 

The original Simon’s Cat was created by Simon Tofield, a veteran animator with extensive experience, having worked on commercials for major companies like Marmite and Tesco. The series began as a self-taught animation project inspired by Tofield’s experiences with his four cats—Teddy, Hugh, Jess, and Maisie. The authentic and relatable nature of the series quickly resonated with audiences, turning Simon’s Cat into a globally recognized brand.

Risks of CAT:

Like an investment in other crypto assets, there are some general risks to investing in CAT. These include:  (i) volatility risk and liquidity risk, (ii) short history risk, (iii) demand risk, (iv) forking risk, (v) code defects, (vi) regulatory risk, (vii) electronic trading risk, and (viii) cyber security risk. For additional information of these and other general risks associated with crypto assets and Uphold’s platform, please refer to the Risks Specific to Holding Digital Assets statement.

In addition to these general risks, an investment in CAT is subject to the following specific risks:

• As a ‘memecoin’, CAT is a community project, led by a pseudonymous team. 
• Any potential success associated with CAT is reliant on the growth of its decentralized community, and their continued trading and enthusiasm for the asset. These factors are difficult to predict, and could result in very high volatility.

Uphold’s Evaluation Process:

Prior to listing CAT on the Uphold Platform, Uphold performed due diligence on CAT and determined that CAT is unlikely to be a security or derivative under relevant securities legislation. Uphold’s analysis including reviewing publicly available information on the following: 

• The creation, governance, usage, and design of CAT, including ensuring the source code is open-source, audited and peer reviewed, security, and roadmap for growth in the developer community. 
• The supply, demand, maturity, utility, and liquidity of CAT.
• Any marketing materials put forward by the CAT social team including on, Twitter, Medium blog, LinkedIn posts, Discord and Telegram channels.
• Material technical risks associated with CAT, including any code defects, security breaches and other threats concerning CAT and its supporting blockchain (such as the susceptibility to hacking and impact of forking), or the practices and protocols that apply to them.
• Legal and regulatory risks associated with CAT, including any pending, potential, or prior civil, regulatory, criminal, or enforcement action relating to the issuance, distribution, or use of CAT. 

General

Uphold has prepared this Crypto Asset Statement based on publicly available information. Although Uphold has taken steps to obtain information from apparently reliable sources, information contained in this Crypto Asset Statement may be inaccurate, incomplete or out-of-date. This overview is a starting point for you to perform your own research prior to investing in a crypto asset.

Uphold users should read the Risks Specific To Holding Digital Assets statement for additional discussion of general risks associated with crypto assets made available through the Uphold platform.  

Canadian residents, please note that Uphold has filed an application for registration in certain Canadian jurisdictions but has not yet obtained registration. Until such time as Uphold obtains registration, Uphold has agreed to abide by the terms of an undertaking available at the following link. Please also review the Uphold Canada – Crypto Risk Statement for additional discussion of general risks associated with the crypto assets made available through Uphold Platform. Please be aware that statutory rights of action for damages or rescission in section 130.1 of the Securities Act (Ontario) and, if applicable, similar statutory rights under securities legislation in the other provinces and territories of Canada do not apply in respect of this Crypto Asset Statement or other disclosures on the Uphold website and Risks Specific To Holding Digital Assets statement. 

Last updated on September 23, 2024.