Binance has officially announced Hamster Kombat (HMSTR) as the 58th project on its popular Launchpool platform, providing users with the opportunity to earn the new token by staking their BNB and FDUSD.
As per the announcement, the platform will list the HMSTR token on September 26, 2024, at 12:00 (UTC), making Binance the first exchange to introduce the token to the market.
Participants in the Launchpool can start farming HMSTR tokens from September 19, 2024, at 00:00 (UTC) until September 25, 2024, at 23:59 (UTC). A total of 3,000,000,000 HMSTR tokens, accounting for 3% of the total supply, will be available as rewards for users who lock their BNB and FDUSD tokens.
Of these rewards, 85% (2,550,000,000 HMSTR) will be allocated to the BNB pool, while 15% (450,000,000 HMSTR) will go to the FDUSD pool. The pools will have an hourly hard cap of 1,517,857.14 HMSTR in the BNB pool and 267,857.14 HMSTR in the FDUSD pool to ensure fair distribution.
HMSTR has a total supply of 100 billion tokens, aiming for wide circulation. Upon listing, it will trade with pairs like HMSTR/USDT, HMSTR/BNB, FDUSD, and TRY, offering flexibility across markets. The token will have a “seed” tag, signaling its early development stage.
Binance has also introduced HMSTR Super Earn, which allows users to lock HMSTR tokens in Simple Earn for a special APR. While the exact rate is pending, the offer will be available for a limited time, giving users the chance to boost returns.
To ensure safety, Binance urges users to perform due diligence, warning of potential scams offering HMSTR before the official launch. Participation in the Launchpool requires completing the KYC process, adding a layer of security for users.
Also Read: Hamster Kombat’s HMSTR Token Launches on BitGet September 26
