Binance made a significant announcement on Thursday, September 12, 2024, revealing the addition of Hamster Kombat (HMSTR) to its Launchpool platform. Following this, the exchange will officially list the HMSTR token. This move showcases a triumphant development for the newly launched gaming token.
The introduction of Hamster Kombat on Binance means that starting from September 19, 2024, users can stake their Binance Coin (BNB) and First Digital USD (FDUSD) to earn HMSTR tokens through farming. This farming opportunity will run for seven days until September 25, 2024, during which users will acquire HMSTR rewards available through Binance’s farming system.
To provide context, the HMSTR token boasts a total supply of 100 billion HMSTR, with 3 billion allocated as rewards via the Launchpool initiative. Of this allocation, 85% (2.55 billion tokens) will be distributed to BNB lockers, while the remaining 15% (450 million tokens) will go to FDUSD holders.
Trading for HMSTR on Binance commences on September 26, 2024, at 12:00 UTC, across various trading pairs such as HMSTR/USDT, HMSTR/BNB, HMSTR/FDUSD, and HMSTR/TRY. The token will be identified with a “seed” tag to indicate its recent listing status.
Binance’s crypto exchange farming feature enables users to lock their BNB and FDUSD into specified pools, with daily rewards determined by their contributions. For instance, the BNB pool will allocate 364.3 million HMSTR tokens daily during the farming period, while the FDUSD pool will distribute 64.3 million HMSTR tokens per day.
Furthermore, beyond the Launchpool farming, Binance introduces HMSTR to its Super Earn program, offering users the opportunity to lock tokens for a set duration to earn a special annual percentage rate (APR). Details regarding the exact APR for HMSTR will be forthcoming, with the program providing a 7-day lock-in period for users to reap special APR rewards.
While the Super Earn rewards will be for a limited time, users can subscribe to up to 30,000 HMSTR tokens each, with 100 million HMSTR tokens allocated for the program. Further specifics on the APR and daily percentage rate will be disclosed closer to the Super Earn launch date.
It’s essential to note that certain regions are excluded from participating in the Launchpool and Super Earn programs due to regulatory considerations, including the United States, Canada, Japan, and others. Users must complete KYC verification to partake in these opportunities and should remain vigilant against potential HMSTR token frauds before the official listing on September 26, 2024.
The original source of this post can be found on CoinGape.