HMSTR debuts on Binance, is it a potential stock or just for harvesting?
The Hamster Kombat (HMSTR) token will debut on Binance today at 12pm UTC and 5:30pm IST. It is a Telegram-based crypto game where users can mine Hamster coins by staking Binance Coin (BNB) and FDUSD.
The Hamster Kombat token will also be traded on other platforms such as Bybit, Bitget, Gate.io, and KuCoin. Users can start exchanging HMSTR for Bitcoin (BTC), Tether (USDT), and any other token on Binance Exchange with zero fees within one hour of the token's listing on Binance Spot.
The maximum supply of HMSTR tokens is 100 billion, of which 75% is used for airdrops, which are intended to reward community members and early players. But only 60% has been distributed so far, and the remaining 15% will be distributed in the future. Binance New Coin Pool will distribute an airdrop of 3 billion HMSTR.
Recently, the game developer announced that only 131 million of the 300 million players were eligible for the airdrop, which means that the probability of the airdrop of 300 billion tokens being rejected is as high as 65%. In addition, 2.3 million player accounts were banned by the game developer for cheating.
On the other hand, Bybit offers early access to pre-listing trading starting on July 8, 2024. During the pre-launch period, HMSTR tokens were traded at $0.01023 per token, allowing participants to speculate on the value of their holdings
