Another animal coin gains popularity, this time it’s the real version of the on-chain hamster race Hamsters.gg.

Another popular animal coin emerges, this time it's the real version of Hamsters.gg, the on-chain hamster race.

Author: Joy, LianGuaiNews

After PEPE frog, another animal coin with meme attributes but real-world existence has become popular. This time, the community has turned its attention to jagged animals – hamsters.

Hamsters.gg quietly went live on July 11th. Currently, the project is run by three developers and a rodent administrator who operate the website. They have been streaming a series of hamster races on Twitch. The website claims to host the “world’s first live hamster race” and quickly gathered a group of loyal cryptocurrency degens (gamblers) who hope to get rich with a team of six-inch long rodents. The racing hamsters have been named “Popcorn,” “Buster,” “SLianGuairky,” “Oliver,” and others.

The races start at fixed intervals. Each time, four hamsters are placed in custom race tracks. Once the race starts, the valves on each track will automatically open, and the hamster that reaches the finish line first wins. Prior to the start of the race, those interested in betting can use BUSD to place bets. Although deposits can be made with Ethereum or Binance Smart Chain, the payments seem to rely entirely on BSC.

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According to LianGuaiNews’ review of the race records, most hamsters tend to stay in place, with only one or two consciously running towards the finish line. Cameras in each track capture the movement of the hamsters, and each race typically ends within a minute.

According to Decrypt, although it appears to be a live race, the races are actually pre-recorded. Dani, an anonymous core developer of the platform, stated that this was done to prevent the possibility of capturing hamster deaths during the race or the race continuing indefinitely if the hamsters decided not to move.

When asked how this setup prevents Dani and his team members from betting on the hamsters they know will win, the developers responded, “Unfortunately, there is no way to guarantee that.”

Winning bettors can split the betting pool, and Hamster will take a 5% commission from all bets. Although bets are made using stablecoins, the platform has also launched the token HAMS. According to the project’s whitepaper, the platform collects a 5% commission, of which 4% is distributed to token holders. According to an official announcement on July 23rd, the platform has accumulated approximately $4,355 in revenue sharing over the past three days and will distribute it. According to the latest information from the official source, token holders will automatically receive their share after the race.

According to on-chain data, HAMS has surged by 22,305.20% in the past 7 days. Such a price increase has also sparked a certain amount of FOMO sentiment. However, due to the low trading volume of HAMS in the early stage, it is easy to drive up the price. Currently, the accumulated trading volume in the past 7 days is $36.39 million.

Developer Dani insists that his participation in this movement is out of love for the movement and also for rodents. A few years ago, he said he tried a “similar concept.” This time, Dani incorporated token economics – HAMS tokens can reward holders, allowing them to receive a share of the bets lost in the casino. He also switched to keeping hamsters: “They are cuter, tailless, and come in many colors,” he explained. Dani and his team have a total of nine hamsters; he insists that they are “well taken care of.” However, many self-proclaimed animal protectors have criticized such competitions for not being beneficial to the hamsters’ health.

In addition to the risks of spinach regulation, the project has encountered many technical issues. The official team recently updated some bugs to restore normal operations. There have also been many fake social accounts and other information impersonating the platform in the community. Users are advised to confirm whether the information is official before taking any actions.

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