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OKX outlined risk reminders for the Hamster Kombat (HMSTR) token, adding that the project has yet to unveil the tokenomics of the altcoin along with a delivery date.
OKX, a leading digital asset trading platform, has announced that it is listing pre-market futures for HMSTR, the native token for Hamster Kombat, a viral game based on the social messaging application Telegram. The ‘tap-to-earn’ game has been one of the extremely popular products utilizing blockchain technology and already has more than 240 million users.
As per the announcement shared by OKX, the users of the exchange will have the ability to trade the USDT-margined pre-market futures for the upcoming HMSTR token. The listing will take place on August 1 at 10:00 am UTC. However, this isn’t the first instance of the native token of the viral Telegram game being listed on an exchange.
According to a previous report, Bybit confirmed that it would be listing HMSTR pre-market trading, giving digital asset enthusiasts the opportunity to gain exposure to the digital asset before the cryptocurrency officially debuts on exchanges. Bybit listed the cryptocurrency on July 8, and investors capitalized on the opportunity before the HMSTR market became too crowded.
The Hamster Kombat TGE was announced for July but the developers of the game have yet to confirm the same. The explosion in the popularity of the game came in the footsteps of Notcoin (NOT), another viral Telegram game that debuted its token earlier this year and made headlines after an explosive rally. Telegram-associated Toncoin (TON), the native digital asset of The Open Network blockchain has also witnessed monumental gains since July 2023, cementing the digital asset’s standing among the list of top 10 cryptocurrencies by market cap.
The face value of the futures contract will be 10 HMSTR, and the settlement will take place in USDT. Further, the quoted price will be based on the USDT price of 1 HMSTR, and the allowed leverage stands at 0.01 to 2x. Meanwhile, the delivery date for the futures contract has been revealed, and OKX said that the date will be unveiled in a separate announcement. Interestingly, pre-market futures are often delivered before the cryptocurrency is listed in the spot market.
Risk Reminders for HMSTR
OKX outlined risk reminders for the Hamster Kombat (HMSTR) token, adding that the project has yet to unveil the tokenomics of the altcoin along with a delivery date. Further, the total supply is also uncertain, and any chance in the “issuance volume may cause market price fluctuations.”
OKX also clearly stated that the pre-market futures do not guarantee that the HMSTR token will eventually be listed in the spot market, and there might be delays or cancellations.
Notably, Hamster Kombat has become a playground for scammers, as reported earlier by Coinspeaker. The viral game saw scammers exploring several tactics to attack players via phishing links, fake airdrops, and unrealistic giveaways. The game has 4-5 million players on a daily basis, and recently, the HMSTR token was listed on CoinMarketCap as well.
