Binance has introduced Hamster Kombat (HMSTR) as the newest addition to its Launchpool platform, giving users a fresh opportunity to farm and earn HMSTR tokens by staking their BNB and FDUSD tokens.
According to the announcement, the token is set to go live on September 26, 2024, and marks the 58th project to be launched on Binance’s Launchpool.
From September 19 to September 25, 2024, Launchpool participants can start farming HMSTR tokens, with a total of 3 billion tokens—representing 3% of the total supply—available as rewards.
The token farming is divided into two pools: the BNB pool will receive the majority of the rewards at 85% (2.55 billion HMSTR), while the FDUSD pool will be allocated 15% (450 million HMSTR).
To ensure a fair distribution, both pools have hourly hard caps—1,517,857.14 HMSTR for the BNB pool and 267,857.14 HMSTR for the FDUSD pool.
The listing of HMSTR on Binance will be a significant milestone as it will make the platform the first exchange to offer trading in HMSTR.
Upon launch, users will have access to various trading pairs such as HMSTR/USDT, HMSTR/BNB, HMSTR/FDUSD, and HMSTR/TRY, which will provide ample trading options and liquidity for investors.
In addition to Launchpool, Binance is introducing “HMSTR Super Earn,” a feature that allows users to lock their HMSTR tokens through Simple Earn to receive an attractive annual percentage rate (APR).
While the exact APR details are yet to be announced, this initiative offers users a limited-time opportunity to maximize their returns by locking their newly farmed HMSTR tokens.
With the launch of any new token, security concerns arise.
Binance has been proactive in cautioning users against potential scams and fraudulent schemes offering HMSTR tokens before the official launch date. To participate in the Launchpool event, users must complete Binance’s Know Your Customer (KYC) verification process, which adds a layer of security and ensures compliance.
HMSTR is being labelled with a “seed” tag on Binance, highlighting that it is in an early development stage, giving early adopters a chance to get in on the ground floor.
The project aims to drive widespread circulation with a total supply of 100 billion tokens. This is not just another meme token; HMSTR is positioning itself as a promising new player in the crypto space with a clear focus on utility and accessibility.
The addition of Hamster Kombat to Binance’s Launchpool comes at a time when the crypto market is hungry for new projects with potential growth.
With Binance’s track record of launching successful tokens and providing users with secure earning opportunities, HMSTR’s entry could attract significant attention and drive engagement among crypto enthusiasts.
