Hamster Kombat to Allocate 60% Tokens to Players in its ‘Largest Airdrop in Crypto History’
In what could become one of the most notable token airdrops in recent memory, the team behind the Telegram-based tap-to-earn game Hamster Kombat has released a new whitepaper, providing detailed information about the project’s tokenomics and future plans.
The Hamster Kombat team said in a new whitepaper that 60% of its token airdrop will be dedicated to players and that they are “actively working on making the airdrop happen,” which was originally slated to occur this month.
Hamster Kombat Plans Historic Airdrop with 60% of Tokens for Players; Launch Delayed
Dear CEOs,
Happy to announce we’ve updated the roadmap on our website and released our Whitepaper that showcases the plans we have for the Hamster Ecosystem.
1. We firmly believe that each player contributes to our shared success. To reflect this, we've allocated a whopping…
— Hamster Kombat (@hamster_kombat) July 30, 2024
The game’s development team shared this milestone in a new whitepaper released Tuesday, detailing plans for the allocation of the upcoming token launch on The Open Network (TON).
Originally planned for July, the launch has seen delays, with recent updates on Monday indicating that the airdrop is still in the planning stages.
The whitepaper claims that Hamster Kombat will conduct the “largest airdrop in the history of crypto,” boasting a user base of 300 million.
According to the document, 60% of the upcoming token airdrop will be “dedicated” to players. “The rest is reserved for providing market liquidity, ecosystem partnerships and grants, rewarding squads, and other items,” the whitepaper states.
Significantly, Hamster Kombat’s developers emphasized that the project is not backed by investment firms or venture capitalists, thereby avoiding potential “sell pressure.”
The team asserts that Hamster Kombat is already a “profitable business” and has “no need to sell team token allocations to pay the bills.”
While the whitepaper does not specify a launch date for the HMSTR token, it provides details on the token supply allocation. Unlike Notcoin, Hamster Kombat’s team will not release all the tokens at once nor offer them all to players.
The team describe the airdrop as the “first step in building the Hamster ecosystem, which will extend far beyond the current game.” The developers revealed that the game has 50 million daily active users across 190 countries.
Hamster Kombat Surges with 300M Players, Drawing Inspiration from Notcoin’s Success
Hamster Kombat has quickly become a prominent name in the crypto world.
The anonymous founders have built a substantial community of gamers who earn token rewards by playing the clicker game, which operates on The Open Network (TON) blockchain. While there are questions about the proportion of bots among its users, the game has undeniably garnered significant attention.
The game’s rise can be partly attributed to the success of another Telegram-based clicker game, Notcoin, which airdropped over 80 billion NOT tokens worth approximately $1 billion in May. Hamster Kombat’s founders have indicated that Notcoin’s success inspired their game.
In addition to the airdrop, Hamster Kombat’s team announced plans to expand the project by onboarding other developers through grants and launching new features such as “squads” to encourage player collaboration and “time-limited events” with special rewards.
Additionally, a “Season 2” campaign with further crypto rewards is in the works.
The Telegram-based tap-to-earn game also said on Tuesday that the game has attracted 300 million players to date. This figure represents nearly one-third of the 950 million active users on the popular messaging app, according to a recent announcement.
Hamster Kombat has experienced significant growth in recent weeks. Telegram CEO Pavel Durov revealed on July 5 that the game had attracted 239 million players by that date, and shortly after, the game’s team reported a total of 250 million players.
The post Hamster Kombat to Allocate 60% Tokens to Players in its ‘Largest Airdrop in Crypto History’ appeared first on Cryptonews.
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SEC Revises Binance Lawsuit: Solana, Cardano, And Polygon No Longer Considered Securities
According to a new court filing, holders of Solana (SOL), Cardano (ADA), and Polygon (MATIC) can all breathe a sigh of relief. The U.S. Securities and Exchange Commission (SEC) has backed down on its claim that they are unregistered securities in its lawsuit against global crypto exchange Binance.
SEC’s Change Of Heart
The Securities and Exchange Commission has retracted its demand for a court ruling to deem tokens such as Solana as securities.
The SEC has already informed the defendants, Binance and affiliated entities (namely Binance.US and ex-CEO Changpeng Zhao), that it “intends to seek leave to amend its complaint, including concerning the ‘Third Party Crypto Asset Securities,’ the regulator said in a joint status report dated July 30.
While the recent legal document suggests a potential shift in the SEC’s stance on crypto asset securities, the amendment is not necessarily the same as the commission dropping the unregistered security allegation or having the presiding judge remove the tokens from the case. The update would be “obviating the need for the Court to issue a ruling as to the sufficiency of the allegations as to those tokens at this time,” the filing said.
This simply means that the judge might still eventually need to rule whether SOL, ADA, MATIC, and several other tokens qualify as securities.
The SEC hit Binance and the exchange’s founder Changpeng Zhao with 13 charges in early June 2023. The agency further accused the defendants of commingling customers’ funds and attempting to skirt U.S. securities laws with “sham controls” to decide who could do business with the company.
In its original complaint, the SEC also alleged that Filecoin (FIL), Cosmos (ATOM), The Sandbox (SAND), Decentraland (MANA), Algorand (ALGO), Axie Infinity (AXS), and Coti (COTI) are all unregistered securities.
The Tuesday filing was submitted in response to the court’s July 9 minute order directing Binance and the SEC to meet, confer, and file a joint submission by July 29 to outline the proposed schedule for additional proceedings. The submission should entail deadlines for any motion to amend the complaint.
SOL ETFs Now More Likely?
If the SEC opts to dismiss its claims that SOL and the other tokens in its lawsuit against Binance are securities, it could be a bullish catalyst for crypto exchange-traded fund products tied to altcoins beyond Ethereum. Notably, asset managers VanEck and 21Shares have already filed for permission to list spot Solana ETFs in the US. Moreover, Ripple CEO Brad Garlinghouse predicted earlier this year that multiple altcoins ETFs would be launched in the United States.
However, other industry pundits doubt the SEC will greenlight crypto ETFs beyond Bitcoin and Ether. As ZyCrypto reported previously, BlackRock’s Head of Digital Assets, Robert Mitchnick, indicated that while spot ETH ETFs arrived on Wall Street last week, they are unlikely to pave the way for other crypto-based ETFs.
Regardless, the SEC’s decision to withdraw its allegations could offer SOL, which is currently aiming for $200, some much-needed boost.
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