Hamsters - “cute” little traders. The explanation of the Trade-2-Earn concept
Hold on!
In the early days of the crypto history, exactly in December of 2013, while the price of Bitcoin was dumping by 39%, there was a guy named GameKyuubi. He was one of the members of the famous Bitcoin Forum. At that time people were using those and were extremely fearful to see such dramatic down movements of the first cryptocurrency. Nowadays we got used to dumps. But back then that was a disaster. And each disaster needs its hero. GameKyuubi was that hero. Accidently, he got drunk and said something that crypto community still chanting about as the sign of Diamond Hands:
Needless to say, HODL became a meme classic. And the rest of a story we all know. Early HODLers kept winning against late HODLers. The never ending cycle (or a Hamster Wheel) and the infinite trading battle.
Apart from being a meme, HODL had become the religion of investing and the strategy of believing in your assets. But let’s be honest, people need some action (Hamsters too!). Because holding assets is boring and we need an easy alternative on earning assets off trading. That could be just a classic exchange platform, but charts, TA, moving averages, gaps, fundamentals and an interface are not highly engaging at most. So not so much of alternative.
But what about NFTs?
Interesting, because NFTs have visual traits that bring color and diverse utility to digital assets. Not to mention that an NFTs might have a strong connection with its owner and community. Sounds really cool, but here are the cons:
- NFTs cannot be sold instantly like fungible tokens
- Cannot be instantly exchanged for another NFT
- Most collections do not have utility and die out after sale event or even during one
As a result diamond hands keep on Hodling their NFTs with a floor price being dumped by 99%. We know how it feels. Not pretty.
But here comes the Trade-2-Earn concept!
Flip it!
NFT Marketplaces and cryptocurrency exchanges serve for different tasks, but do not solve the issues mentioned above. What if we try to mix their best features in order to make trading fun, easy and rewarding within one NFT collection. This is highly possible. And can be achieved if we combine NFTs and fungible tokens. Meaning to create a hybrid system in which NFTs influence token’s market price.
Here is how it works:
- First of all, we need to define what is the main task that all NFTs must execute. Let’s say…trading. NFTs should trade!
- What? Exactly, NFTs should trade tokens.
- How? By sending pump/dump signals to smart contracts that buy/sell tokens for Ethereum. One smart contract has project’s token in possession and another has Ethereum to spend on those tokens.
- What is the price of a token? That can be only defined by an NFT itself. Each one has some trading power values that determines the % change on a token’s last price. So if the last price is 1 ETH, and the trading power value is 2%, then the price will become either 1.02 ETH or 0.98 ETH.
- How will we know if the token price goes up or down beforehand? Besides the trading power value, each NFT has a type. And it’s either the Pump type or the Dump type. Pump = Up. Dump = Down.
- What does make NFT to trade tokens? If an NFT owner wants to activate its trading powers to pump or dump the token price, then he/she/they would need to sell an NFT on a marketplace. The trading of a token action begins by itself the moment an NFT is sold.
- Where to watch the action? NFT trading data and its influence on a token price will be reflected on a website. NFT owners and others will be able to see the whole trading history there.
- How do these NFTs look like?
Like HAMSTERS!
- Do they have visual traits and rarity? Yes, 300+ traits and 20,000 unique combinations
- Why to sell Hamsters? To get tokens for each NFT flip.
- How many tokens? The amount depends on NFT type and your trading history. Frequent NFT selling = more tokens to claim.
- Why to sell the Dump type NFT? To get 1.5x more tokens than for selling the NFT Pump type.
- How to sell the token? Only Hamsters can trade tokens. But the community of owners has all the rights to create a market on any DEX that supports Polygon blockchain. Tokens are free to get for a trading of the Hamster NFTs.
- What’s the token’s utility? Provide token/ETH liquidity for the Pump and Dump smart contracts, hence earn ETH and tokens on each NFT trade made by Hamsters’ owners. Additional utility, such as staking will be presented in the future updates.
- What is the name of the token? The name will be determined by the project’s community.
- Who wins in this game? The one who earns more tokens, makes more profitable NFT flips than the other NFT owners, has a bigger share in a pool for providing liquidity and simply the most active member of the Hamster Game community.
These are the basics of the Trade-2-Earn concept for the Hamster Game. Thus can be applied to any NFT (especially pfp) project in order to bring instant utility and engage NFT owners into frequent trading with no need to drop out from a community. Instead of HODLing NFTs — HODL tokens and lock the community value in it. Instead of staying with one NFT get a few and exchange those for some different ones, expanding your collection. Increase the trading volume of a collection, hence attract new members.
Owning an NFT for even a longer period of time still makes sense. As it might bring an extra value increase on some particular assets within a collection.
And in the end, NFT owners just need to be the NFT owners. Same way as it’s always been.
What’s next for the Hamster Game?
As we will be keeping you updated on the Hamster Game development, please note that these features mentioned above are the basics. We are not planning on leaving methodology as described. But to expand it with new and engaging features. Moreover, Hamster Game community will get benefits for supporting the project on early stages. Such as the NFT Free Mints, extra source for token claiming and the ability to mint a bigger batch of some Hamster traders for yourself. Become the Hamster Whale and never be BORED!
Keep track on our socials to stay up to date and win some NFTs:
Discord: https://discord.gg/uGs4myAvkU
Twitter: https://twitter.com/HamsterGameNft
