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Cryptocurrency News Articles
Hamster Kombat Airdrop: TON’s Historic Event Faces Mixed Results
Sep 28, 2024 at 06:44 pm
Since its release in March 2024, Hamster Kombat has amassed 300 million users. Even the team of TON tried its hardest to ensure smooth distribution and instant transactions with minimal fees by Mintless Jettons technology.
On September 26, the highly anticipated Hamster Kombat airdrop took place, putting the TON blockchain to a substantial load test. The blockchain worked diligently to manage the high traffic as over 100 million active users were onboarded. This event marked a first for TON. It had prepared itself extensively to handle the potential system overload.
However, despite the efforts, some complaints about system overload still came. Most users experienced a lag-free process, but airdrop completion was hindered by some technicalities.
Additionally, the expectations from both players and investors were very high. The project also received backing from Binance, further boosting its credibility and appeal. With so much hype, the team of TON listed the HMSTR token on the same day.
Airdrop Reached Only to 43% of Players
The Hamster Kombat airdrop distributed tokens to only 43% of its users to create scarcity and boost the token’s value. This sparked controversy within the community. Out of 300 million players, only 131 million met the airdrop requirements, leaving many others dissatisfied
Yesterday, we witnessed the beginning of largest airdrop in crypto history. 131M qualified users getting their paws on Hamster Tokens on #TON 💎
Despite the heavy load, the TON blockchain has not missed a single block.⬇️
Initially, the airdrop was announced for July but was postponed to September, causing further player frustration. Despite the delay and unhappy faces, many still participated in the event and received airdrops in wallets.
What Went Wrong with the Hamster Kombat Airdrop event?
Overconfidence among participants was observed based on the hypothesis that the community was overfarmed and overadopted. This was one of the primary possible reasons for this big fuss.
After 4 to 6 months of continuous farming, the team postponed their Token Generation Event (TGE) from July to late September. Although they could have continued farming until December, the constant outrage from players forced them to launch earlier.
As a result of overhype and overfarming, the Hamster token failed to perform post-launch, leading to a mass sell-off by participants.
After months of engagement, many felt betrayed, receiving minimal token value for their efforts. Some users spent six months completing tasks, playing games, and promoting the project, only to be left empty-handed.
Adding to the frustration, HMSTR price lost 50% of its value within just 42 hours, trading below its pre-market price. Unlike other tokens on the TON blockchain, the HMSTR token saw no initial growth and began to decline sharply.
This drop is attributed to the community’s disappointment with the airdrop and a lack of interest in staking. This prompted many to sell their tokens.
Just After The Airdrop, The token Became Controversial
Hamster Kombat ($HMSTR), once eagerly awaited, quickly became a subject of controversy. This happened just after its launch on September 26 at 12 PM UTC (5:30 PM IST). The hashtag #HSMTRSCAM began trending on Twitter as annoyed users voiced their anger.
The community is now calling for a boycott of the project’s bot and social media accounts. As frustration mounts, the future of Hamster Kombat looks increasingly uncertain, with #HMSTRSCAM dominating online discussions.
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
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