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Kaito's ranking popularity is hard to sustain; after the token issuance, the level of attention quickly declines.
Kaito Ranking: A Launch Tool for Projects or a Flash in the Pan?
The cryptocurrency market has long been dominated by narratives. In 2025, a new attention-grabbing mechanism became the focus: the Kaito AI Earn leaderboard. These incentive activities reward early researchers, commentators, and meme creators (commonly known as "yappers") for generating buzz before a project launches, in exchange for future token allocations.
Its operating model is now widely known:
This method is indeed effective. Leaderboards can enhance exposure, trading volume, and social recognition. But the problem is:
Can this attention be sustained?
Once the token issuance and airdrop are claimed, those "noisy" players will turn to the next token issuance. Prices will fall, trading volume will shrink, and participation will gradually decline.
This article conducts a critical analysis of multiple Kaito-related projects to explore whether the hype can be sustained after the token launch. A trend is emerging: the narratives are designed to attract attention rather than maintain excitement.
Let's start with SKATE.
Skate: High trading volume, a large number of listed coins, and stagnation after Kaito
SKATE is a token associated with the Solana modular gaming layer, which launched with strong momentum. With the support of well-known exchanges for its listing, as well as the in-depth promotion of the Kaito Earn campaign, SKATE had sufficient liquidity and high visibility at launch.
The early trading of SKATE showed a good start. On June 10, the attention on this token surged sharply, and the price once soared to $0.06539, but then quickly retraced to around $0.05094, experiencing about a 22% pullback on the very first day.
Subsequently, similar trends were observed when other projects under Kaito were launched.
The social buzz also peaked early but then quickly declined. Within 7 to 10 days after launch, Kaito contributors shifted their attention to new leaderboard projects and token activities, resulting in a noticeable drop in mentions and engagement.
Summary: Rotation is greater than retention.
SKATE has all the favorable conditions: listing on major exchanges, high liquidity, and a reward-oriented Kaito ecosystem narrative. However, the attention on SKATE has not lasted. Despite SKATE's daily trading volume being close to 140% of its market cap, SKATE remains a high turnover asset that is not held long-term by anyone.
The story of SKATE is similar to that of other tokens in the Kaito Earn ecosystem:
The market performance of SKATE further confirms the criticisms raised against the projects promoted by Kaito: high exposure, low user retention.
Huma: Launchpool hype, Kaito rewards 0.5%, first-day turnover reached 300 million USD
Huma is a decentralized payment financing protocol (PayFi), which utilizes the complete technology stack of a certain trading platform and Kaito, and will issue its native token HUMA on May 26, 2025.
A certain trading platform's Launchpool event allows users to mine HUMA by staking BNB, FDUSD, or USDC from May 23 to 26. At the same time, Huma has also launched the Kaito Earn activity, distributing 0.5% of the total supply across three "Seasons."
Distribution for the first quarter:
A trading platform started trading at 21:00 on May 26 (UTC+8). As of May 27:
Despite the buzz from Launchpool and Kaito Earn, most of HUMA's trading is rotational trading. The rewards for the first season can be claimed from day one, and the second season has also been announced, which has led to increased selling pressure rather than long-term holding.
After briefly stabilizing at around $0.05 in early June, the price continued to decline over the next month, dropping by 40% from June 9 to July 7. This trend reflects not only profit-taking but also a lack of sustained demand. Daily trading volume shrank by more than 90% from the peak on the first day, and the gap between FDV ($308 million) and actual market value ($53 million) continued to widen, further reinforcing the market's view that much of HUMA's appeal is driven by activity rather than the product itself.
Summary
HUMA showcases a typical Kaito Earn model: impressive data, massive liquidity, but lacking lasting appeal. Its launch aims to enhance visibility rather than win steadfast support, and due to the lack of practicality and demand post-launch, early attention comes quickly but fades just as fast.
Quai: Large-scale distribution, deep Kaito integration, strong launch... then fades into silence
Quai is a decentralized multithreaded blockchain protocol that has launched the most generous and deeply integrated Kaito Earn campaign to date. From January 17, 2025, to April 17, 2025, the project has allocated a total of 6 million QUAI tokens to reward content contributors:
From April 29 to May 12, users can claim through the Kipper platform. Weekly snapshots track contributors, some of whom are Top yappers that have received up to 5.95% of personal recognition shares, far exceeding SKATE or HUMA.
Although the Quai mainnet was launched on January 29, the token could only be freely traded after the exchange data was released on February 22.
QUAI first day performance (February 22, 2025):
Subsequent trend: rotation, reversal, and a long cooling period.
QUAI is one of the most standout new projects among the tokens under Kaito. Its price surged from $0.09884 to $0.2263 during the day, an increase of 129%, and ultimately closed at $0.1929, with a rise of 95%.
But this is already the highest point.
In the coming weeks:
The trading volume also indicates the situation:
Summary
QUAI has many advantages: a large distribution of Kaito, strong brand influence, a highly anticipated TGE, and a strong early price trend. However, attention shifts quickly. Even top yapper has failed to stabilize interest in its secondary market.
The current trading price of QUAI has fallen below the issue price and has not shown any significant rebound since March, which fully demonstrates that early liquidity does not equate to lasting confidence.
Soon: Integration with Kaito, a booming trading platform, and real-world validation
Soon, a high-performance Solana Optimistic Network (SVM-based rollup), launched one of the most structured and community-cohesive Kaito Earn activities at the beginning of 2025. During the 3-month activity period, the project allocated 450,000 SOON tokens (approximately 0.045% of the total supply) to the top 100 yapper.
This event is not just a reward airdrop, but also integrates the brand image of SOON. Participating users will receive the "Sooner" role, badges, and social status, which reinforces that Kaito yappers are a key force in the early dissemination of SOON.
TGE and market release: from heated discussion to skyrocketing popularity
The SOON token was issued on May 23 and listed on a trading platform on May 24. The opening price of the token was $0.4527, briefly reaching $0.4776, and closing at $0.4007 on the same day. The trading volume on the first day exceeded $103 million, reflecting a significant amount of speculative activity and the amplifying effects of the exchange.
Some market indicators (as of July 7, 2025):
What happened after the first day?
After the initial excitement, SOON has followed the now familiar post-Kaito era curve:
This sharp decline coincided with the end of the claiming period (June 23), after which many claimants may have sold their assets, and attention shifted to other Kaito activities.
Summary: The sooner you sell, the better?
SOON possesses all the requirements for a successful issuance.