Almost 80x the TVL in just 2 months, Tomb Finance has undoubtedly been one of the best performers on Fantom.
What is the project all about? Let’s find out in this article.
What is Tomb Finance?
Tomb Finance develops an algorithmic token. However, this token is not pegged to Fiats like other Stablecoins, but to FTM. The reason behind this is that Tomb Finance believes in the growth of Fantom, while still arguing that FTM has a limited supply even though its emission is only increasing, possibly leading to a lack of FTM supply to be freely traded and used.
Hence, Tomb Finance created a mirrored and liquid asset to FTM, which is interchangeable with FTM. An alternative to FTM will create more use cases within the ecosystem, such as participating in FTMpad - a launchpad on Fantom, while still remaining the number of FTM available for staking.
What is TOMB Token?
TOMB is the algorithmic token that Tomb Finance produces, which is pegged to FTM through seigniorage. The token is designed to be used as a medium of exchange.
In the Tomb Finance ecosystem, there are 2 more tokens that keep the project working smoothly.
- Tomb Shares (TSHARE): TSHARE holders have voting rights (governance) on proposals to improve the protocol and future use cases within the Tomb finance ecosystem. TSHARE stakers also receive TOMB after each epoch expansion.
- Tomb Bonds (TBOND): When the TWAP (Time Weighted Average Price) of TOMB falls below 1 FTM, TBONDs are issued and can be bought with TOMB at the current price. Exchanging TOMB for TBOND burns TOMB tokens, helping to get the price back up to 1 FTM.
How does Tomb Finance work?
Tomb Finance provides a number of products as follows:
In Cemetery, you can stake LP (Liquidity Providers) tokens to earn TSHARE in Cemetery. Currently, there are 2 available pools: TOMB-FTM and TSHARE-FTM.
In order to receive LP tokens, you have to provide liquidity for the corresponding pair on the platform.
Masonry is where TOMB tokens are minted after each epoch duration, which is currently 6 hours. Based on the circulating supply, the number of TOMB tokens being minted will be changed accordingly.
Users can stake TSHARE to receive TOMB after each epoch duration. However, the staked TSHARE will be locked for 6 epochs, while the reward can only be claimed after at least 3 epoch durations since deposit.
Pit is the place that keeps the price of TOMB stable and pegged. Here, users can purchase TBOND if the price of TOMB < 1 FTM, or redeem when the price of TOMB > 1 FTM. Nevertheless, if TOMB's TWAP is between 1.00 and 1.01, neither TBOND nor TOMB will be issued.
To incentivize users to redeem at a higher price, TBOND redemption will be more profitable with a higher TOMB TWAP value.
You can swap your TBOND and TSHARE through the SBS interface.
You can provide liquidity for the TOMB-FTM pair directly here or on Spookyswap, without having to pay tax.
Here you can see all the detailed information of every epoch that has happened on Tomb Finance, including the Masonry funding, Dao funding, Dev funding,...
To clarify, the TOMB rewards after each expansionary epoch will be distributed as:
- TSHARE stakers: 80%.
- DAO fund: 18%.
- Dev fund: 2%.
Detailed information about TOMB Token & TSHARE Token
TOMB Key Metrics
- Name: Tomb Finance.
- Ticker: TOMB.
- Token standard: FRC-20.
- Token type: Utility.
- Total supply: 46,571,248 TOMB.
- Circulating Supply: 46,571,116 TOMB.
- Contract address: 0x6c021Ae822BEa943b2E66552bDe1D2696a53fbB7
TSHARE Key Metrics
- Name: Tomb Shares.
- Ticker: TSHARE.
- Token standard: FRC-20.
- Token type: Governance, Utility.
- Total supply: 64,432TSHARE.
- Circulating Supply: 31,508 TSHARE.
- Contract address: 0x4cdf39285d7ca8eb3f090fda0c069ba5f4145b37
TSHARE Token Allocation
- Liquidity Providers Incentives: 85%
- DAO Allocation: 7.85%
- Team Allocation: 7.15%
TSHARE Token Sale
TSHARE Token Release Schedule
TOMB Token Use Cases
- Participate in FTMpad.
- Use as the medium of exchange and an alternative to FTM.
TSHARE Token Use Cases
- Stake to receive TOMB in Masonry.
- Participate in governance.
TBOND Token Use Cases
- Earn from arbitrary opportunities.
- Maintain the price of TOMB.
How to get TOMB and TSHARE Token
You can get TOMB and TSHARE through various options: Staking, participating in Tomb Finance Cemetery, Masonry,...
How to buy TOMB Token
You can buy TOMB and TSHARE through a number of AMMs on Fantom: SpiritSwap, SpookySwap, OpenOcean,...
How to store TOMB (TSHARE) Token
Step 1: Open Coin98 Wallet & click Receive on the home screen.
Step 2: Search TOMB (TSHARE) Token.
Step 3: Click on the correct result (either TOMB or TSHARE), copy the wallet address and send TOMB to this address.
Tomb Finance Roadmap
Team, Investors and Partners
Is Tomb Finance (TOMB) a good investment?
I hope that with the aforementioned information, you have understood what Tomb Finance is and how Tomb Finance works. This article should give you a deep insight into the project, so there is no financial advice. You should Do Your Own Research before conducting any investment, and be responsible for your own fund. However, Coin98 will provide some notable points of the project to give you the best overview to make your own decisions.
- Tomb Finance provides an algorithmic token that is pegged to the price of FTM. This mirrored token is believed to work as an alternative to FTM as a majority of FTM tokens are staked.
- Tomb Finance has recently grown drastically in TVL. This shows that users have paid attention to Tomb Finance, which helps stabilize the TOMB token and its mechanism.
- In fact, a number of algorithmic Stablecoins have been released on Fantom, but couldn’t succeed as there have been no concrete use cases. Tomb Finance with the TOMB token, can be said to be the first to work.
- The objective of the project is pretty obvious: To support the Fantom token - FTM. With the support of Harry Yeh - a member of the Fantom Foundation, it is evident that the TOMB token really helps the FTM token in general and the Fantom ecosystem in particular. More use cases and applications from the project can be expected to come online really soon, which can have a beneficial impact on Fantom.
You’ve been through an article about Tomb Finance and the TOMB token. I hope it has helped you in gaining more valuable insights into this project and understanding its potential.
If you want to know further about Tomb Finance (TOMB), please feel free to leave a comment below for further discussions!