23rd July 2023 > > Hamster racing and HAMS.

tl;dr

Hamster racing and HAMS is not to be taken too seriously.

Market Snap

Market Wrap

Crypto vol heads further south with no change in the ETH price for two days now.

Occasional Series – Curious Cryptos’ Airdrop Circular 9th edition

The 9th edition of the Curious Cryptos’ Airdrop Circular was issued last night.

This is an additional free service for community members who sign up to receive news and information about airdrops that the CCC team consider to be suitable for the discerning crypto enthusiast. That bar is high. Let me know if you wish to join in the fun.

Curious Cryptos’ Commentary – Hamster racing

A little bit of Sunday silliness before I get busy cooking up a roast.

This is full-on degen:

https://hamsters.gg/play

The concept couldn’t be simpler. Four hamsters are placed in a “custom-made racetrack”. The first to cross the line is the winner, natch, though it isn’t clear that the hamsters really understand that they are in a race. Viewers can place bets using BUSD (Binance USD stablecoin) and take a share of the pot if they guess right. The house keeps 5%.

The Twitter feed is entertaining (https://twitter.com/hamsters_gg). Apparently, the daily bet size is around $30k or a million dollars a month, though given the site is less than two weeks old those numbers are probably not reliable.

The platform developer Dani confesses that some years ago he launched the same concept using mice. He has been quoted as saying “It never became big, unfortunately”.

Curious Cryptos’ Commentary – HAMS (Hamster)

The project would not be complete without its own coin, HAMS. Trading at mere cents just a couple of days ago, the all-time high was $3.50 yesterday with a current price of $2.50.

The only marketplace is Uniswap V2 versus WETH (Wrapped ETH). Early adopters are desperately hoping for a listing on a centralised crypto currency exchange, though the current market cap of only $25mm is a stumbling block to that ambition.

In the meantime, holders receive approximately 80% of the house take from bets placed which can be recycled into betting on the next race.

Sometimes, I just can’t help myself (the CCC Treasury has a very small investment in HAMS).