The Open Network (TON) came under immense pressure from distributing a massive airdrop to potentially 100 million players.
Popular Telegram game Hamster Kombat finally launched its HMSTR token on The Open Network (TON) on Thursday, sparking over $1.2 billion in trading activity within 24 hours—putting immense pressure on the network as it distributes a massive airdrop to potentially 100 million players.
Despite player complaints that the airdrops were too small, the token saw a substantial amount of trading activity on its debut day. HMSTR had a 24-hour trading volume of over $1.2 billion early Friday, according to data from CoinGecko, which placed it in the top tier of cryptocurrencies in terms of trading value, right after Binance Coin (BNB), Dogecoin (DOGE), and XRP.
The token's price fell 18% over the past 24 hours, bringing its market value to around $430 million, and it is currently trading at $0.0067. That landed it in the top 200 currencies in terms of market cap, but it's still well behind Notcoin, the original game that launched the Telegram tap-to-earn trend earlier this year, with a market cap of $970 million.
Another major point of contention surrounding the Hamster Kombat airdrop, aside from the token's price and allocation amount, was whether The Open Network could handle the burden of distributing the token to a possible 100 million players.
This question arose in late August when the network experienced two consecutive shutdowns, effectively ceasing block production as a result of the overwhelming demand for claim airdrop Catizen (DOGS). The announcement of the airdrop and token launch date for Hamster Kombat occurred between the bursts of downtime.
Even earlier this month, TON Core developers expressed concern that airdrops for games such as Catizen and Hamster Kombat would cause additional disruptions to the network.
"The airdrop for Hamster Kombat is the largest-ever airdrop in crypto's history. This massive surge in traffic has caused some third-party services to experience overloads, but TON network has generally remained stable, with blocks continually produced without interruption and network fees remaining fixed," they told Decrypt in an interview, adding that "TON is probably the only blockchain that can withstand events of this magnitude."
"TON is making history," they added, "and we’re proud to be supporting a network which empowers communities, attempts the unprecedented, and offers users highly engaging projects."
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