What Is Tomb (TOMB)?
Tomb (TOMB) is the first algorithmic stablecoin created on Fantom Opera, a secure and open-source environment to build decentralized applications. The TOMB is not pegged to traditional currencies like other stablecoins. Instead, it is pegged or attached one-to-one to the FTM token, which is Fantom’s native utility token. The Tomb protocol tries to push the price up and down, staying close to the peg target. In simpler words, Tomb intends to serve as a backbone of the rapidly developing ecosystem seeking to introduce an advanced model and liquidity that follows the price of an established asset, i.e., FTM.
The ultimate aim of the Tomb is to provide all the liquidity gaps of the network. As per the whitepaper, the Tomb ecosystem is inclined with a protocol that seeks to constantly adjust the token's supply and price, adapting to that of the FTM token.
TOMB is the core token of Tomb Finance, which is minted on the Fantom Opera blockchain. There are multiple benefits of the token that the holders can avail. These benefits can be achieved by constantly pegging to the FTM to be mirrored. After that, the token can be traded and transacted without any ultimate restrictions.
The Tomb Finance ecosystem also consists of a multi-token protocol that aims to operate two more tokens that support the platform to operate smoothly:
Tomb Bonds ($TBOND):Bonds are unique tokens that can be utilized to help stabilize TOMB price around peg (1 FTM) by reducing the circulating supply of TOMB.
Additionally, The TOMB token seeks to advance the holders with the TOMB-FTM pairs to earn TSHARE tokens by staking their TOMB-FTM liquidity providers to the Cemetery. That means creating sections of Tomb Finance and utilizing them to earn TOMB tokens with repeated staking. All such dynamic features of the TOMB aim to help make the token and platform more appealing, which in turn assists the platform toward their aim of becoming the transaction medium of Fantom Opera.
The maximum total supply of TOMB tokens is capped at 143 million.
