On September 26, 2024, Hamster Kombat, a well-liked tap-to-earn Telegram recreation, launched the buying and selling of its HMSTR token on a number of main exchanges. Whereas the occasion was extremely anticipated, the airdrop ended up disappointing a big portion of the crypto neighborhood.
Many consider it was “one of many worst airdrops within the historical past of the crypto.” Listed here are 5 explanation why the Hamster Kombat airdrop failed to fulfill expectations.
What’s Mistaken With the Hamster Kombat Airdrop
1. Unfair Reward Distribution
Forward of the airdrop, many members have been unexpectedly disqualified. Those that centered on boosting their factors per hour (PPH) to build up tokens have been banned simply earlier than the occasion. The builders carried out a brand new “anti-cheat” system, which caught many off guard.
In accordance with these affected, the transfer appeared to learn influencers, with a major quantity of the tokens redirected to them as an alternative of normal gamers. This last-minute rule change induced main outrage.
2. Frequent Postponements and Sudden Rule Adjustments
Initially, the Hamster Kombat group had deliberate the airdrop for July 2024, however as a result of technical unpreparedness, the occasion was delayed. This postponement angered many who had been eagerly awaiting their rewards.
In late August, the group introduced that the airdrop would lastly happen in September. Whereas they met this new deadline, they misplaced the belief of many neighborhood members.
Worse, simply earlier than the airdrop, the builders introduced that members would solely obtain 88.75% of their tokens. The remaining 11.25% wouldn’t be distributed till July 2025. This surprising rule change led to a rising boycott motion inside the neighborhood.
3. Low Itemizing Value of the HMSTR Token
One of many major issues going into the airdrop was the worth of the HMSTR token at launch. Sadly, these fears have been realized when the token debuted at $0.01.
Nearly instantly, the worth started to say no. This sharp drop upset each long-term and short-term traders who had anticipated extra from the venture’s token.
“The place are these YouTubers and influencers who gave the neighborhood false hope of $0.10 or $0.50? Hamster Kombat has turned out to be the worst airdrop in crypto historical past. It’s virtually 50%-60% down now,” one X person wrote.
Learn extra: 7 Finest Exchanges To Purchase and Promote Hamster Kombat (HMSTR) in 2024
HMSTR Value. Supply: BeInCrypto
As of this writing, HMSTR is buying and selling at $0.0019 — virtually 40% decrease than its preliminary worth.
4. Issues with Promoting HMSTR Tokens
Many venture members discovered themselves with only some {dollars}’ price of HMSTR tokens after months of interacting with the sport. Gamers complained that regardless of the time spent on actions like tapping hamsters to earn rewards, the payouts have been disappointingly low.
“Hamster Kombat has cheated the neighborhood. They’ve allotted a big portion of airdrops to YouTubers and influencers for referrals. They’ve carried out vesting with out informing the neighborhood. They’ve made individuals work like labor, day and evening to gather keys from their video games and gave $5 or $10 tokens,” Crypto with Khan, a distinguished crypto influencer commented.
Furthermore, these with small token quantities confronted further challenges when making an attempt to promote them. Some exchanges, like Binance, require a minimal transaction worth of $5, making it unimaginable for customers with smaller token balances to money out their HMSTR.
5. Telegram Pockets Outages
The launch of HMSTR buying and selling coincided with technical points within the Telegram pockets, which is operated by TON blockchain. TON, constructed on the remnants of an deserted Telegram crypto venture, is chargeable for operating the crypto pockets inside Telegram, the place customers maintain HMSTR tokens.
Because of community overloads, many customers discovered themselves unable to entry or commerce their tokens, additional compounding frustrations across the airdrop.
