Welcome to Tomb.finance, home to the first algorithmic token pegged to $FTM on the Fantom Opera network.
The $TOMB algorithmic token serves as the backbone of a rapidly growing ecosystem aimed towards bringing liquidity and new use cases to the Opera network. The protocol's underlying mechanism dynamically adjusts $TOMB's supply, pushing its price up or down relative to the price of $FTM.
Inspired by the original idea behind Basis as well as its predecessors (bDollar and soup), Tomb.finance is a multi-token protocol which consists of the following three tokens: -Tomb ($TOMB). -Tomb Shares ($TSHARE) -Tomb Bonds ($TBOND).
Unlike previous algorithmic tokens, $TOMB is not pegged to a stable coin— it is instead pegged to $FTM. Why is this? Tomb.Finance believes in the potential of Fantom Opera, and has chosen to align its mission to both provide value to and derive value from $FTM's future growth. In addition to existing and future use cases such as FTMPad, $TOMB aims to become the main medium of exchange on Fantom Opera: this will be achieved by providing a mirrored, liquid asset to $FTM.
One of the primary shortcomings of past algorithmic tokens has been a lack of use cases, leaving no good reason for somebody to want to use or hold them. In order to successfully maintain the peg in the long-run, the Tomb team will maintain a focus on innovation around enhanced functionality and use cases.