What is Tomb?
Tomb (TOMB) is a new algorithmic stablecoin that operates on the Fantom Opera blockchain. It is designed to function as the backbone of a rapidly growing ecosystem that aims to introduce advanced models and liquidity that follow the price of an established asset, specifically the FTM token - the native utility token of the Fantom network.
Unlike other stablecoins that are pegged to traditional currencies, TOMB is attached one-to-one to the FTM token, which is pegged to the US dollar. The Tomb protocol attempts to push the price of TOMB up and down to stay close to its peg target. This allows TOMB to provide all the liquidity gaps of the network while constantly adjusting the token's supply and price to adapt to that of FTM.
The TOMB token is the core token of the Tomb Finance ecosystem, which operates on the Fantom Opera blockchain. Holders of TOMB can avail of multiple benefits that can be achieved by constantly pegging it to FTM to be mirrored. Once this is done, the token can be traded and transacted without any ultimate restrictions.
Apart from TOMB, the Tomb Finance ecosystem also comprises two other tokens that support the platform to operate smoothly. These are the Tomb Shares ($TSHARE) and Tomb Bonds ($TBOND). The $TSHARE token is the governance token of the platform, while the $TBOND is a unique token that can be utilized to help stabilize TOMB price around the peg by reducing the circulating supply of TOMB.
In addition, TOMB token holders can earn TSHARE tokens by staking their TOMB-FTM liquidity providers to the Cemetery. This creates sections of Tomb Finance that can be utilized to earn TOMB tokens with repeated staking. All such dynamic features of TOMB aim to make the token and platform more appealing, which in turn assists the platform in its goal of becoming the transaction medium of Fantom Opera.
The maximum total supply of TOMB tokens is capped at 143 million, ensuring that the token retains its value and scarcity over time. Overall, the TOMB stablecoin and its associated ecosystem aim to bring advanced models and liquidity to the decentralized finance sector and provide a solid foundation for a growing ecosystem.
The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.
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