Copycat.finance had just been officially launched on September 8th 2021. I had my first review on Copycat.Finance about a month ago during the time of presale. You can check back the article here.
I have bought COPYCATPRE which was the token given during the pre-sale. It could be 1:1 turned into COPYCAT, the official governance token, when the platform is officially launched.
In fact Copycat was scheduled to launch before August end, but it was announced later on Twitter for late launch until Sep 8, 2021. They also offered the additional 1.5% of COPYCATPRE airdrop as an apology for the delay.
The delay was actually caused by the process of certification which can be understood. Not so many platforms have the responsibility to the public by being audited before public launch. It was officially audited by Certik and PaladinSec.
Most features have come as promised, high-yield Farm, copy trade, master trade (Copy farm may have to wait until Q4). Initially I was a bit disappointed of COPYCAT price swing after the launch. When Pre-sale price at $0.15 and public-sale price at $0.2, it came down to $0.1 in 10 minutes after officially traded, pretty much same as any other tokens after officially launched. However it turned right back in the next day and made ATH at $0.3 before settling around $0.2 today. The price fluctuation is hard to predict, but the project seems to be carried out as planned.
Currently there are not many Master trades and only 4 of them with KYC as Copycat Official, available for your copy selection without deposit fee. At this point I would give no credit to other pools without KYC when they also collect deposit fee, and I don't know who they are. It's like buying a below-investment-graded fund with fee. So I decided to try copy "Superb Stabilizer" Master pool; although the performance is not quite impressive which might be because of the market dip few days ago. There is not much information about the Master in the list that we can verify their background or past performance. There is only a short description on investment plan, and a short record after launched which doesn't have much meaning.
After deposit BNB in Master pool, you will receive SHARE tokens, which in my case I received STABILIZER as a proof of share. I can also stake STABILIZER in the farm with decent yield.
Applying for a Master has cost which might be the reason why there are not so many selections in Master list. I think the team should waive the application cost at the beginning to open up for more Masters, let them perform and show records, so Copycat crews have more confidence on where they put their investment. The team should also recruit well-known Masters to open up their own trade pool to gain public attention. Before launched, I saw a mocking of Elon Cat Master pool which I thought they would really get Musk on, but turned out to be only a joke.
However the concept of being a Master is still fascinated for anyone with their own investment strategy. Each Master pool needs to stake BNB while having SHARE token as LP. The idea of having an investment house of their own by having their own investment strategy, their own token, and their own members is like a ready-made tool to build up a community of people having the same way of thinking.
Farms still have high yield which might be because they still do not gain much attention or have no much traffic. I expect the sky-rocket yield to come back to earth once there are more LPs.
COPYCAT token has already been listed in CoinMarketCap, CoinGecko and Apeswap. You can check out the project with this link.
Final thought
The Farm is still new and there are a lot of things to improve. I personally love the idea of creating your own strategy pool for public, but the team has to work harder to attract people into the platform. I will keep an eye on my tiny investment and look forward to any progress on the project in future.
