What Is Bomb Money (BOMB)?

$BOMB is an algorithmic token of Bomb Money designed to obtain liquidity and new use cases to the Binance Smart Chain (BSC) network. A Binance Smart Chain is a blockchain network created for operating smart contract–based applications. As per the whitepaper, this token is inspired by tomb.finance, which was initially inspired by bDollar, and soup.

Furthermore, the BOMB platform is a multi-token protocol consisting of three tokens:

1. Bomb.Money ($BOMB):BOMB token is created to be used as a medium of exchange. The $BOMB token is not pegged to a stablecoin, unlike earlier algorithmic tokens. Instead, it is pegged to $BTC.

2. BOMB Shares ($BSHARE):BSHARE holders have voting rights on proposals to enhance the protocol and forthcoming use cases within the BOMB money ecosystem. The asset mints BOMB and distributes it proportionally to all BSHARE holders who have staked their tokens in the boardroom. Minting means verifying information, making a new block, and recording that information into the blockchain.

3. BOMB Bonds ($BBOND): These tokens can be used to stabilize BOMB prices around the peg. All holders can redeem their BBOND for BOMB tokens if the treasury has a positive BOMB balance.

   Moreover, the current reward distribution breakdown of the BOMB tokens is as follows:

• 60% of printed $BOMB goes to the $BSHARE stakers.

• 30% goes to the treasury account. The motive behind this is to fund the growth of the protocol and have funds for future incentivized activities.

• 10% goes to the developers. These funds can be utilized any way the developers wish but usually aim to go back into the protocol.

History of Bomb Money (BOMB)

This platform has achieved several milestones in 2021, which include its website redesign. Besides this, the platform has launched its own auto-compounding vaults so that users can gain those advantages immediately. The network has also operated its BSC full node to deliver RPC to its services and community. Apart from this, the total supply of BOMB tokens is $15,457,778.