Graphic: Tomb.Finance + COMA
The previous article discussed the first M&A to happen on OPERA along with some recent performance highlights of Tomb Finance and Millennial Finance. If you did not catch that message, check it out here on Medium or here on discuss.fantom.digital.
It was a cool, arid night…
clink!…clink! sounds off the chipped and battered shovel as its hardened steel caroms off a piece of newly exposed bedrock.
The Gatekeeper has run out of room. What once was a barren canyon floor now sprawls densely peppered with Tombs between the towering plateaued rocks. Time is of the essence. Tomb must be disposed of efficiently, and it awaits the Gatekeeper in proliferating piles.
Our friendly Gatekeeper is even feeling taxed. With the recent hike in Tax Fees, heftier collections demanded by the Tomb DAO have taken their toll. Finally, after much exertion, the Gatekeeper’s shovel grew heavier, and the depth of his excavations diminished. He paused to catch his breath amidst the dust and sweat when an idea sparked within his hollow head in form of poem:
“Too much Tomb to bury or carry.”
“The weakhanded and weakhearted have reason to be wary.”
“Struggle stresses strength of strong minds to be merry.”
“Use deadwood tree to burn Tomb and serve cheesecake with cherry.”
- Zombie 2021
And so the Gatekeeper took to piling bushels upon bushels of TOMB across the neighboring moonlit Savanna, and initiated what feels hot enough to be the beginning of an eternal burn…
Tomb DAO will ultimately decide the fate of the prescribed burns of TOMB on the Savanna. Governance is second to the launch of FTMPAD on the list of priorities. Audit is, at time of writing, in progress with ObeliskOrg. fSoon completion.
The broad effects of the auto-burn during times like these are noteworthy for Tomb Finance. Some cool and interesting things also happen when burns occur in nature. Various species exhibit unique responses when faced with adaptive challenges arising from spontaneous changes in local environments. Nature can be incredibly insightful in many respects. I will let you dig that bunny hole if you choose. Avion and tunneling creatures are just a couple examples.
Original artwork by: Olga, Kim; Added touch: Tomb.Finance + COMA
In this article we will be going straight into a few of the widgets Tomb.Finance has at play when the value of 1 TOMB < 1 FTM. The finer details will be left for you to uncover.
One question to answer straight out of the gate: “are we pegged, or nah?”
We are going to find out real soon my fellow #TombRaiders and defenders of the peg. For now, let us talk about all this contraction stuff because it is important.
Since the last article where TWAP is mentioned, you probably noticed the value of 1 TOMB token has changed dramatically: atow 1 TOMB = ~ 1.0421 FTM. For a TOMB token hodler, this should catch your eye for more than one “damn good” reason.
Take time to think about the switches that get flipped by the Tomb.Finance algorithm in this scenario and others. Creating a basic list like the one below can help clarify what is on/off during expansion/contraction epochs. Per usual, all comments/questions/concerns will be heard in our discord. Link is somewhere below.
What we know will be turned on in fsupersoon fashion is this newly announced partnership between Tomb Finance and Scream.
Can you say, “GigaSpooky”…?
Tomb Finance runs a welcoming discord server. Investors of all ages and experience levels are welcome. Always DYOR.
C’mon over to the Tomb.Finance Discord to get started.
Source: Tomb.Finance Discord
*A work around is being developed regarding LPs and Tax Fees and should be released in the coming days, not weeks.
All in all, it appears as though the use-cases are not just being talked about, but they are rapidly approaching fruition…
Yel.Finance just announced that their code passed the audit. Millennial.Finance is over there doing random, stealth-like flash photography. Scream is prepping to go through a seed phase for pastel ticket holders, followed up by the FTMPAD incubation.
Most significantly, the Tomb.Finance community and ecosystem is flourishing. Historically, in nature, strong, close bonds amongst members of a community are proven to be positive drivers of success for a population. Do not ask me how this applies to the undead.
One thing should be clear by this point, a contraction epoch is where the real value will shine if there are enough symmetrical avenues for light to pass unobstructed. The core team at Tomb Finance has a big appetite for use-cases.
That is why it may be better for some to attack this bit by bit than in one big scoop. Here are some kibble bits in this screengrab from the Tomb Finance docs.
Source: Tomb.Finance Docs
And your starter list:
- Minimum slippage 17%
- Minimum tax 15% (at current settings determined by Tomb DAO)
- Masonry turns off TOMB rewards to TSHARE stakers
- Pit turns on and allows for TOMB to be “spent” (there will not be a Tax Fee applied going from TOMB to TBOND) for TBOND
- TBOND minted at rate of 3% of TOMB circulating supply
*10,363,393 TOMB is circulating supply at time of writing.
*For example, 311,000 TBONDs could potentially be minted if this was the start of a contraction epoch.
- TBOND is minted in limited supply on a first come first served basis each contraction epoch.
- TBOND minting will halt when TBOND total supply reaches 35% of TOMB circulating supply
Contraction Epoch — ->Expansion Epoch:
- 65% of expansion rewards at the end of the first expansion epoch following a contraction epoch are sent to the Treasury Fund
Source: Tomb.Finance Docs
- TBOND is allowed to be redeemed for TOMB in the Pit
*TBOND redemption value is higher wen TOMB TWAP is higher*
…Please pause with us for a moment of silence to pay tribute to those that have fallen.
Graphic: Tomb.Finance + COMA
RIP to a few (there are many others) ones that came before us with a similar vision. The Tomb DAO and the Gatekeeper are here defending the line. And they say come and take it…
Keep your fingers crossed that we do not catch a case of Bactitanesdosis. A system like the Gatekeeper makes Tomb Finance distinguishable from its predecessors but does not give 100% immunity. Arbitrary injections of liquidity by the Tomb DAO will be a heavily tested strategy, and overtime other means of administration will need to be explored.
The road ahead is far less traveled.
Unlike your average token, TBONDs are designed to be an illiquid asset which can only be obtained by spending TOMB, if any TBONDs are available. This action of burning TOMB for TBOND will only take place in the Pit. Same for redeeming TBONDs when TOMB TWAP > 1 FTM. There is much resemblance shown here to traditional fiscal and monetary policy.
e.g., when taxes are raised the result is less spending.
There is likely a heap of great content on this subject on your preferred streaming platform. If you are considering investing in any algo-stable, this will be well worth your time.
Regardless of assumptions made about investor behavior and overall sentiment, the Tomb DAO’s response to entering a contraction epoch is to behave as a second line of defense. Thus, tossing a coin to your young Gatekeeper every now and then is a sign of mutualistic behavior. Think crow or zebra.
Source: Tomb.Finance Docs
We are going to see more than one unique mutualistic relationship form this month. That is a fact. Bringing new and community-valued additions of use-cases into the Tomb Finance ecosystem will expand areas of the savanna within which the Eternal Burn can be redirected or better contained.
Wen DAO? Wen Moon? Wen Peg? The answer to all three: fSoon
Disclaimer: None of the material or statements used in this article are financial advice and before making the decision to invest, an investor should always do enough leg work to understand what he/she will be investing in and the risks associated with it.
P.S. Below is the beautiful original work by Olga, Kim.
Fyodor Dostoevsky: “красота спасет мир.”