What Is Bomb Money (BSHARE)?
After falling in love with the tomb.finance project on Bomb Money, it was hard to believe that nothing like this existed on the other networks. BSC seemed like a great choice to launch a tomb.finance fork with a few twists, so here they are! This project would not be possible without the excellent work from the tomb.finance team. Their project being fully open source and developed exceptionally well made it a pleasure to work with. Can’t say enough good things about the TOMB team.Having said that, much of this documentation will be copied from TOMB. Since their code was so great, there was not much need for change besides coins PEG and naming conventions.
The Bomb Money algorithmic token serves as the backbone of a rapidly growing ecosystem aimed towards bringing liquidity and new use cases to the BSC network. The protocol’s underlying mechanism dynamically adjusts $BOMB’s supply, pushing its price up or down relative to the price of $BTC. Inspired by tomb.finance, who was originally inspired by the idea behind Basis as well as its predecessors (bDollar and soup), bomb.money is a multi-token protocol which consists of the following three tokens: -bomb.money ($BOMB). -BOMB Shares ($BSHARE) -BOMB Bonds ($BBOND).
Baby Billionaires Club Storage Key Points
|Coin Name||Baby Billionaires Club|
|Circulating Supply||2,410.00 BSHARE|
|Source Code||Click Here To View Source Code|
|Explorers||Click Here To View Explorers|
|Twitter Page||Click Here To Visit Twitter Group|
|Whitepaper||Click Here To View|
|Official Project Website||Click Here To Visit Project Website|
What differentiates $BOMB from other algorithmic tokens?
Unlike previous algorithmic tokens, $BOMB is not pegged to a stable coin— it is instead pegged to $BTC. Because of BTCs high per coin price, Bomb Money have decided to peg BOMB to BTC at a 10,000:1 ratio. In other words, 10,000 BOMB should equal 1 BTC for our PEG to be maintained. One of the primary shortcomings of past algorithmic tokens has been a lack of use cases, leaving no good reason for somebody to want to use or hold them. In order to successfully maintain the peg in the long-run, the BOMB team will maintain a focus on innovation around enhanced functionality and use cases.
Generally speaking, what’s the easiest flow to follow for compounding rewards?
There are countless strategies, and which one you choose depends on your risk tolerance and short, medium, and long-term goals. That being said, the “plug-and-play” method is detailed below. Also, take some profits along the way. Don’t get too greedy. If $BOMB is OVER the peg:
- Buy $BOMB and pair it with $BTC to provide liquidity, and stake your BOMB-BTCB LP in the farm to earn $BSHARE rewards.
- Take your $BSHARE rewards and stake them in the Boardroom to earn inflationary $BOMB rewards.
- Sell half of your earned $BOMB for $BTCB, and compound it back into the BOMB-BTCB LP. -Profit!
“What is 50/50?”
50/50 is the method best suited to provide stability for both the platform and for your underlying investment. Bomb Money By boosting liquidity, the 50/50 strategy reduces price volatility, and helps $BOMB stay above the peg for longer to keep the Boardroom printing. This, in turn, attracts new investors and keeps the ecosystem growing.
1)When you claim your $BOMB rewards in the Boardroom, sell 50% of them for $BTCB.
2)When you go to provide BOMB-BTCB LP, stake the entirety of your remaining BOMB with the $BTCB you’ve just purchased.
There’s so many auto-compounding vaults, what should I do?
Bomb Money are in the process of getting setup with auto compounding vaults. The following advice will apply once they have them setup. If you are in a $BOMB-BTCB LP auto-compounding vault like Beefy Finance, you are creating buy pressure on $BOMB. If you are in a $BSHARE-BNB LP auto-compounding vault and you also hold $BSHARE elsewhere, the auto-compounding vault will be suppressing its price since it is continuously selling $BSHARE. The farm APR is linear and prints 24/7, regardless of Bomb’s relation to the peg.
Boardroom, on the other hand, prints only when BOMB’s TWAP is above 1.01. Bomb Money Therefore, it may not always be that an investor gets a higher return from the Boardroom than from the BOMB-BTCB pool. Because $BOMB follows the price of $BTC, the BOMB-BTCB LP is akin to holding $BTC in your wallet, except with the bonus of a high farming APR on top of it. In other words, if you’re bullish on $BTC’s price action, the BOMB-BTCB LP is a way of holding exposure to that single asset while also reaping high APRs.