Cryptocurrency exchanges started adding Hamster Kombat token to their premarket trading platform.
The token of the popular tap-to-earn game Hamster Kombat (HMSTR) has appeared in premarket trading on several exchanges.
Thus, crypto exchange Bybit announced on July 8 that it had added the HMSTR token to its premarket trading platform. Users can purchase or sell coins through the order system. At the time of writing, the highest price reached $137, and the lowest was $0.001.
In June, the KuCoin cryptocurrency exchange also announced the premarket of the Hamster Kombat coin. Although the start of trading has been postponed several times, now it is scheduled for July 19. Users must complete Know Your Customer (KYC) verification to participate in the presale.
In addition, the Bitget platform announced premarket trading of Hamster Future Coins (HMSTRBG) ahead of its official launch. Representatives of the platform noted that since the Hamster Kombat project has not yet announced its tokenomics, the total supply of Hamster Kombat tokens, that is, HMSTR, remains unknown.Â
To ensure that users are better positioned to trade HMSTR before its launch, Bitget has introduced the Hamster Futures Coin as a representative token for premarket trading with a total supply of 10 billion tokens.
The exact date of HMSTR’s full listing is also unknown. According to the Hamster Kombat roadmap, the token launch is scheduled for the end of July.
What is known about Hamster Kombat
The clicker game Hamster Kombat launched in March this year. According to the plot, the hamster becomes a major figure in the crypto exchange and tries to upgrade it. The mechanics are simple: users tap on a virtual hamster, receiving one virtual coin for each tap. After promoting the game, the developers promised that these coins could be converted into cryptocurrency.
Telegram founder Pavel Durov also emphasized the rapid success of Hamster Kombat. He is confident this will attract hundreds of millions of people to the web3 sector.Â
Durov also mentioned the long-awaited launch of Hamster Kombat tokens, promising to provide the TON blockchain. However, the ticker for the Hamster Combat cryptocurrency was not officially announced. It is not a fact that it will be HMSTR; this is only the coin’s name on the Bybit exchange.
How premarket trading works
Premarket is an over-the-counter trading platform designed to buy and sell new tokens before they are listed. With it, users can only reserve tokens at a certain price, and when Hamster Kombat is listed, orders for tokens will turn into orders on the exchange. Unlike futures trading, there is an important nuance: according to the crypto exchange rules, traders cannot cancel an order concluded on the premarket. Once agreed, the token’s price is fixed, and the money of the seller and buyer is frozen until the listing is completed.
Asset buyers in the pre-TGE token market act like regular participants on the trading platform, placing an order to buy an asset at a specific price. And sellers use the collateral as security in order to sell tokens that do not yet exist. If the seller refuses to complete the transaction, the system will fine him.
Trades have an initial execution deadline. For example, the seller has a few hours after the TGE to execute the order, otherwise they will be penalized.
Premarket platforms are similar to options or deliverable futures contracts, where the seller and buyer enter into an agreement or contract to buy or sell an asset at a pre-agreed price at a certain time.
