600% APR Money Printer On Fantom

[SEAsiaLife]

Anyone heard of https://tomb.finance/ ?

It's an algorithmic stablecoin project, with the TOMB coin pegged to 1 FTM;

When TOMB price is over the peg, TOMB holders get diluted in favor of TSHARE holders as new TOMB are minted to drive the price down.

When TOMB price is at the peg, TOMB holders can use the TOMB-FTM liquidity pool to increase their yield on FTM without the risk of impermanent loss. At this point, TSHARE are worthless because no TOMB are printed anymore.

When TOMB price is under the peg, TOMB holders should buy TBOND to help the price return to the peg and benefit from the discount.

Now, let’s analyze feedback loops between the different staking strategies :

When you stake TOMB, you receive TSHARE. If you sell THSARE to buy more TOMB, you drive the TOMB price up, making TSHARE more valuable through rebases while making your TOMB less valuable in the mean time.

When you stake TSHARE, you receive TOMB. If you sell TOMB to buy more TSHARE, you drive the TOMB price down, making your TSHARE less valuable by reducing the emissions of new TOMB.

When you buy TBOND, the TOMB are burned, reducing the supply and you drive the TOMB price up, making your TBOND more valuable if other people decide to cooperate and are also bonding with you.

Over the long run, approximately one year after the launch, the expansion phase will stop and the TOMB price should eventually remain at the peg.

At this time, TSHARE will be worthless because the inflation stopped.

https://medium.com/@bonnotguillaume...o-compounding-using-grim-finance-9b40bb57c108

If you buy a T-Share and stake it (when the TOMB stablecoin is above peg) you get between 550% to 600% APR, currently.

This has been a money printer on Fantom for a lot of people, with a lot of forks popping up. Tomb Finance is the first and safest though.

https://kek.tools/t/0x4cdf39285d7ca...ir=0x4733bc45ef91cf7ccecaeedb794727075fb209f2

Please, DYOR.


(Also MST is a play to earn dungeons and dragons style game, that is in early stages of development and is on 1.5 million market cap. A low cap moon shot.

https://kek.tools/t/0x1528888543782...ir=0x1a88e447c7468b28de490b25a076a4ffc0c68b16 )

 

[callahanCZ]

GTFO

 

[SEAsiaLife]

GTFO

Why?

 

[RedReddington]

I'm not really familiar with these projects, I just know they don't have a happy ending for most of the users, but this one seems to be unique since it's main coin's value is pegged to FTM.
Curious to see opinions of members with more experience in this field.

 

[lotsofmoney]

600℅ is not realistic, this cannot go for long term. Stay away from these scam options.

 

[CPANathan]

600℅ is not realistic, this cannot go for long term. Stay away from these scam options.

That 600% goes down the more people staking, I see this a lot in crypto gaming.

When everyone unstakes, the APR goes back up and value plummets that's when the big cry happens.

 

[SEAsiaLife]

600℅ is not realistic, this cannot go for long term. Stay away from these scam options.

The more the TVL goes up, the APR goes down. Unless the price of of TSHARE goes up in relation to TVL.

 

[Gogame1]

T-Share doesn't print if Twap goes below 1.
Once it stops printing price of Tshare will be down.
Tshare has max supply of 60k or 70k. If i am right By June emissions will be done.

 

[PMBingA]

isnt this too good to be true?

 

[SEAsiaLife]

isnt this too good to be true?

It's 4 months old, it's now being seen as a key part of the DEFI ecosystem.

Another project is being built around it.

Harry Yeh is committed to keeping it going, because it's attracting people to the Fantom ecosystem.

https://twitter.com/harryyeh?lang=en
(However, like I said. As TVL goes up the APR goes down, unless the market cap of TShare goes up. So the earlier people get in the better.)

 

[ciras]

Anyone heard of https://tomb.finance/ ?

It's an algorithmic stablecoin project, with the TOMB coin pegged to 1 FTM;



https://medium.com/@bonnotguillaume/defi-tomb-finance-ftm-on-steroids-with-farming-auto-compounding-using-grim-finance-9b40bb57c108

If you buy a T-Share and stake it (when the TOMB stablecoin is above peg) you get between 550% to 600% APR, currently.

This has been a money printer on Fantom for a lot of people, with a lot of forks popping up. Tomb Finance is the first and safest though.

https://kek.tools/t/0x4cdf39285d7ca8eb3f090fda0c069ba5f4145b37?pair=0x4733bc45ef91cf7ccecaeedb794727075fb209f2

Please, DYOR.


(Also MST is a play to earn dungeons and dragons style game, that is in early stages of development and is on 1.5 million market cap. A low cap moon shot.

https://kek.tools/t/0x152888854378201e173490956085c711f1ded565?pair=0x1a88e447c7468b28de490b25a076a4ffc0c68b16 )

Too much damn explanations to wrap my head around... Felt like I had fallen down a cliff with those dingling stars on top my head like in them cartoons. Would just stick to my expertise; Buying high, selling low...

 

[Poople]

Ring a bell, anyone?

 

[JavascriptPufferfish]

It's an algorithmic stablecoin project, with the TOMB coin pegged to 1 FTM;

not really familiar with these projects, but FTM is not a stable coin, so TOMB shouldn't be either right? if its pegged to 1 FTM...

for everyone giving shit to op because 600% APR, this is not ALL that weird on defi. it happens. i remember COPE on raydium had an even higher APR for a good while. it eventually pummeled, but that's not the point. you are supposed to get in early while the hype is high, milk it a while, and move to something else before the coin collapses (not saying this will happen to TOMB, i don't know the project). its a high-risk high reward grind, but that doesn't mean OP is necessarily trying to scam you. if you don't like risks, that's fine, but don't automatically level anything as a scam.

 

[SEAsiaLife]

not really familiar with these projects, but FTM is not a stable coin, so TOMB shouldn't be either right? if its pegged to 1 FTM...

for everyone giving shit to op because 600% APR, this is not ALL that weird on defi. it happens. i remember COPE on raydium had an even higher APR for a good while. it eventually pummeled, but that's not the point. you are supposed to get in early while the hype is high, milk it a while, and move to something else before the coin collapses (not saying this will happen to TOMB, i don't know the project). its a high-risk high reward grind, but that doesn't mean OP is necessarily trying to scam you. if you don't like risks, that's fine, but don't automatically level anything as a scam.

I believe it can be considered a stablecoin, because a stablecoin means it's stable in relation to another coin. USD's values changes (e.g. it loses it's purchasing power) however USDT is still considered a stablecoin, just like FTM's purchasing power changes but TOMB can still be considered a stablecoin.

Reading replies in this thread, and the other threads on BHW crypto section, this place is surprisingly conservative. Its seems most people here are unfamiliar with DEFI in general. Even on Pancakeswap (considered safe by most people) you can get 400% APR for providing liquidity.

I'm guessing that most people here are unfamiliar with the concept of yield farming in general.

Also, it's confirmed that an ecosystem is being built around TOMB. TOMB is going to the coin to be used with a new upcoming DEFI project.

 

[JavascriptPufferfish]

I believe it can be considered a stablecoin, because a stablecoin means it's stable in relation to another coin. USD's values changes (e.g. it loses it's purchasing power) however USDT is still considered a stablecoin, just like FTM's purchasing power changes but TOMB can still be considered a stablecoin.

i interpret stablecoin as a coin whose value remains more or less stable in USD terms, but the point about USD itself changing is a fair point. plus, its not like we have the oxford's crypto dictionary to refer to lol.

Reading replies in this thread, and the other threads on BHW crypto section, this place is surprisingly conservative. Its seems most people here are unfamiliar with DEFI in general. Even on Pancakeswap (considered safe by most people) you can get 400% APR for providing liquidity.

I'm guessing that most people here are unfamiliar with the concept of yield farming in general.

Also, it's confirmed that an ecosystem is being built around TOMB. TOMB is going to the coin to be used with a new upcoming DEFI project.

DEFI itself is a cluster of hard to grasp concepts jumbled together that's constantly getting more complex. yield farming included of course. add on top of that the scammy reputation of crypto in general, and it's understandable that folks would get all defensive. at the start of last year, i gave it a try to understand and stay on top of it, but i simply didnt had enough money to make the massive time commitment of trying to be a defi sharpie worthwhile; but i do admire the guys who are on that hustle. guys who get early to stuff like templeDAO are worthy of admiration, IMO.

also, we should mention yield farming comes at the risk of impermanent loss, which makes it a much more believable story. its not all bigass APYs and smart-sounding words.

edit: if you want to, check qi DAO. not personally invested, but heard great things about it.

 

[Kambaggo]

Looks like the APY has dropped a lot as predicted.

 

[GeniusProxy]

Looks like the APY has dropped a lot as predicted.

Would be a dream that will never happend, an APY of 600% for month and month

 

[Kambaggo]

Still not a bad deal though, had a look at the setup and you can earn 151% APR.

 

[GeniusProxy]

Ofc but I don't see a world where you have this type of APY and so many people making tons of money and let the market going well..

 

[Kambaggo]

Ofc but I don't see a world where you have this type of APY and so many people making tons of money and let the market going well..

Competely agree, it is not sustainable. But why not milk it while you can.