TOMB is a crosschain algorithmic stablecoin, pegged to the price of 1 FTM via seigniorage.
How Tomb Work
If $TOMB is OVER the peg:
- Buy $TOMB and pair it with $FTM to provide liquidity, and stake your TOMB-FTM LP in the cemetery to earn $TSHARE rewards.
- Take your $TSHARE rewards and stake them in the Masonry to earn inflationary $TOMB rewards.
- Sell half of your earned $TOMB for $FTM, and compound it back into the TOMB-FTM LP.
If $TOMB is UNDER the peg:
- 1.Buy TOMB and exchange it for TBOND. If you are LP'ing, you can break the LP to exchange $TOMB for $TBOND, and use the remaining $FTM to buy $TOMB to also exchange for $TBOND.
- Now you have a big fat bag of $TBOND, and you've also helped bring $TOMB back above peg so that the Masonry can resume printing.
- 2.Sell $TBOND for a redemption bonus once $TOMB is back over peg (above 1.1 TWAP).
- TSHARE has a maximum total supply of 70000 tokens distributed as follows:
- DAO Allocation: 5500 TSHARE vested linearly 12 months
- Team Allocation: 5000 TSHARE vested linearly over 12 months
- Remaining 59500 TSHARE are allocated for incentivizing Liquidity Providers in two shares pools for 12 Months
TOMB Bonds (TBOND) main job is to help incentivize changes in TOMB supply during an epoch contraction period. 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, taking them out of circulation (deflation) and helping to get the price back up to 1 FTM. These TBOND can be redeemed for TOMB when the price is above peg in the future, plus an extra incentive for the longer they are held above peg. This amounts to inflation and sell pressure for TOMB when it is above peg, helping to push it back toward 1 FTM.or 12 months