Catly, a new cryptocurrency project with a buyback program on its pre-sale token on Friday morning 26 May 2023 announced the suspension of its buyback program due to the instability of Binance Pay. The decision was made after Binance's explorer BSCScan goes on maintenance.
The buyback program, which was launched by Catly earlier this year, was designed to provide investors with a way to earn passive income through the repurchase of its tokens regularly. However, due to the current maintenance on Binance, the company has decided to temporarily suspend the buying and selling of Catly tokens on its website and make an effort to pay rewards through Polygon Network.
Binance Pay is a digital wallet and payment platform that is offered by Binance, one of the largest cryptocurrency exchanges in the world. It allows users to make payments and transfer funds using various cryptocurrencies including Bitcoin, Ethereum, and BNB, USDT.
In a statement released by Catly on its social media pages, the platform acknowledged the issue with Binance and expressed its commitment to using another payment platform
The decision to suspend the Catly Buying and selling is to prevent data errors when the BSC maintenance returns to normal the Catly buyback and sales will resume said the platform.
In order to address the concerns raised by its community, Catly's officials reaffirm that the goal of Catly remains unchanged.
"We are committed to building Catly into the most prominent Meme token of 2023. In just 30 days, our community has grown to 68,000 members, and we are rapidly approaching 100,000 and 500,000 members. With such a large community as our foundation, Catly is destined for the moo."
Catly when assuring its community on transparency and security for the Catly token stated that CATLY is registered under the Financial Crimes EnforcementNetwork (FinCEN) of the U.S. Department of the Treasury and has obtained the U.S. MSB (Money Services Business) license. Which will be disclose to the public soon.
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