What Is USD Balance (USDB)?
Built on the one-and-only Fantom Opera Network, USD Balance has added a first-of-its-kind revenue generation strategy as well as cross chain capability with Moon river, seamlessly bridging two of the most vibrant crypto ecosystems out there. Based on the FHM token, FantOHM aims to be the decentralized reserve asset of the Fantom and Moon river Networks. In simpler terms, they want FHM to be a safe place to store assets during times of volatility that simultaneously works to generate passive income in the form of compound interest for holders.
USD Balance Storage Key Points
| Coin Basic | Information |
|---|---|
| Coin Name | USD Balance |
| Short Name | USDB |
| Circulating Supply | N/A |
| Total Supply | 16,879,790 |
| 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 |
| Support | 24/7 |
| Official Project Website | Click Here To Visit Project Website |
An OHM fork with a difference
Currently, the market is flooded with OHM forks, but the vast majority are merely 2nd rate carbon copies of Olympus. But not. Along with achieving an explosive organic community growth rate, USD Balance uses a unique proof-of-burn mechanism to add unprecedented functionality and game-changing revenue generation potential seen nowhere else. But more on this later. Let’s start with the basics.
The FHM Token
Each FHM token represents an asset backed by a selection of stable coins, staked liquidity and crypto-assets (e.g. FHM-DAI LP Tokens, FTM) in the FantOHM treasury, giving it an intrinsic value that it cannot fall below. USD Balance also introduces infinite game theory to its market through bonding and staking features, as well as the revolutionary USDB stable coin, which uses proof-of-burn to supercharge treasury revenue generation in a way no other OHM fork has.
What is FantOHM’s purpose?
Glad you asked. The primary function of USD Balance is to provide a safe place to park returns during waiting periods while allowing holders of FHM to earn a passive income through compound interest. Essentially, they want to build a policy-controlled currency system with a cross chain treasury, in which the behavior of the FHM token is controlled by the DAO in a way that serves the majority. In the long term, they believe this system can be used to optimize for stability and consistency so that FHM can function as a global unit-of-account and medium-of-exchange currency.
In the short term, they intend to optimize the system for innovation, growth, wealth creation and early adoption. They intend to achieve price flatness for a representative basket of goods without the use of fiat currency in order to allow the cryptocurrency industry to detach once-and-for-all from traditional finance! Currently, there is no truly decentralised reserve asset in the world of crypto, and that’s why FHM is the next step forward in the evolution of cryptocurrency.
The FHM token also exists as your vehicle of DAO governance. By cementing a trustless, decentralized government aim to unify ourselves as a force for continued development in cryptocurrency investment instruments through voting, community discussion and collective engineering. They understand that by engaging in this process, they allow for the greatest long-term adaptability by progressively removing centralized decision making. In a nutshell, by the people, for the people.
How do I invest in Fantohm?
Besides purchasing the FHM token on SpookySwap, there are two main strategies for users of USD Balance to participate staking and bonding. Stakers stake their FHM tokens in return for more FHM tokens, while bonders provide LP or other viable tokens (FTM, DAI, etc.) in exchange for discounted FHM tokens after a fixed vesting period (meaning your tokens will be dripped to you bit by bit).
How can I benefit from FantOHM?
Along with being part of a trailblazing OHM fork with an unrivaled team & community, there are a number of ways you can benefit financially from USD Balance, namely through passive income (staking) and discounted rates on a promising project in its early stages (bonding). The main benefit for stakers comes from supply growth. The protocol mints new FHM tokens from the treasury, the majority of which are distributed to the stakers. Thus, the gain for stakers will come from their auto-compounding balances, though price exposure remains an important consideration.
That is, if the increase in token balance outpaces the potential drop in price (due to inflation), stakers make a profit. Alternatively, the main benefit for minters/bonders comes from price consistency. Minters/bonders commit capital upfront and are promised a fixed return at a set point in time; that return is given in FHM tokens and thus the minter’s profit would depend on FHM price when the minted FHM matures. Taking this into consideration, minters benefit from a rising or static price for the FHM token.
