@tombfinance is the first algorithmic stablecoin on Fantom Opera.
It offers an 150% APY for staking to the TOMB-FTM-LP liquidity pool while benefiting from $FTM price increases.
Let's get into the details.
It offers an 150% APY for staking to the TOMB-FTM-LP liquidity pool while benefiting from $FTM price increases.
Let's get into the details.
Tomb Finance is built on Fantom Opera.
Opera is a blockchain network that emphasizes speed and security. They advertise leaderless proof-of-stake, fast finality, and lots more.
Fantom has a market capitalization of over 7 billion. Its $FTM coin is up over 100x in the past year.
Opera is a blockchain network that emphasizes speed and security. They advertise leaderless proof-of-stake, fast finality, and lots more.
Fantom has a market capitalization of over 7 billion. Its $FTM coin is up over 100x in the past year.
The $TOMB token is pegged to the price of 1 $FTM via seigniorage.
The protocols underlying mechanism adjusts $TOMBs supply, pushing its price up and down relative to the price of $FTM.
$TOMB aims to be the main medium of exchange on Fantom Opera.
Why?
The protocols underlying mechanism adjusts $TOMBs supply, pushing its price up and down relative to the price of $FTM.
$TOMB aims to be the main medium of exchange on Fantom Opera.
Why?
The Fantom Opera network relies on validator nodes that require $FTM to be staked and locked.
Tomb Finance believes $FTM will struggle to be a medium of exchange with so much of the supply locked up.
Tomb Finance believes $FTM will struggle to be a medium of exchange with so much of the supply locked up.
If $TOMB is able to hold its peg to $FTM, it will be a mirrored, liquid asset.
It will be free to move around, be traded, and also benefit from $FTM price increases.
Why should you care?
It will be free to move around, be traded, and also benefit from $FTM price increases.
Why should you care?
For Tomb Finance to be successful, it is crucial that $TOMB reaches and holds its peg to $FTM.
This means that the protocol currently offers attractive APYs for liquidity providers.
How attractive?
This means that the protocol currently offers attractive APYs for liquidity providers.
How attractive?
I recommend staking liquidity tokens in the TOMB-FTM-LP. This liquidity pool currently offers ~150% APY and is exposed to $FTM price increases.
The TOMB-FTM-LP provides liquidity for the protocol. Rewards for staking are paid out in $TSHARE.
What is $TSHARE?
The TOMB-FTM-LP provides liquidity for the protocol. Rewards for staking are paid out in $TSHARE.
What is $TSHARE?
$TSHARE is another Tomb Finance token that gives holders governance (voting rights) within the ecosystem.
$TSHARE can also be staked to earn additional $TOMB (when $TOMB is above the price of $FTM).
$TSHARE can also be staked to earn additional $TOMB (when $TOMB is above the price of $FTM).
The protocol can get confusing.
That’s why I recommend the TOMB-FTM-LP to get started. You can swap the $TSHARE rewards back to $TOMB, or use them to get further involved.
Is it easy to get started?
That’s why I recommend the TOMB-FTM-LP to get started. You can swap the $TSHARE rewards back to $TOMB, or use them to get further involved.
Is it easy to get started?
Yes. I’ll go step by step to get started staking TOMB-FTM-LP tokens.
1. Buy $FTM on any major exchange (besides Coinbase). Send the $FTM to your MetaMask wallet. If you already have funds in a crypto wallet, you can bridge assets to Fantom Opera on spookyswap.finance.
1. Buy $FTM on any major exchange (besides Coinbase). Send the $FTM to your MetaMask wallet. If you already have funds in a crypto wallet, you can bridge assets to Fantom Opera on spookyswap.finance.
2. Swap half your $FTM for $TOMB on SpookySwap.
3. Click the liquidity tab on SpookySwap. Choose $FTM as Ingredient A and $TOMB as Ingredient B. Approve the transaction to merge them into liquidity pool tokens.
3. Click the liquidity tab on SpookySwap. Choose $FTM as Ingredient A and $TOMB as Ingredient B. Approve the transaction to merge them into liquidity pool tokens.
4. Go to tomb.finance. Choose the Cemetery tab. Open up the TOMB-FTM-LP.
5. Stake your liquidity pool tokens to the protocol. The APY and daily yield can be seen there as well.
6. Check back periodically to see how much $TSHARE you’ve earned!
Final thoughts...
5. Stake your liquidity pool tokens to the protocol. The APY and daily yield can be seen there as well.
6. Check back periodically to see how much $TSHARE you’ve earned!
Final thoughts...
DeFi investments are risky. Do your own research and only invest what you can afford to lose.
If this was helpful, like and retweet the first tweet of the thread so it can reach others.
Follow me @rossboothr for more crypto/DeFi threads focused on generating wealth.
If this was helpful, like and retweet the first tweet of the thread so it can reach others.
Follow me @rossboothr for more crypto/DeFi threads focused on generating wealth.
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