Anatomy of fBOMB: 33 points about fBOMB
Primer: Guess which is the first token to be on Fantom Opera Blockchain? It’s fBOMB. In this article, we’ll be sharing an infographic to highlight 33 points that you need to know about this protocol.
Introduction
It’s kind of hard to define what fBOMB is. What we do know is that they are building an ecosystem with more and more use cases around their main token, which is BOMB. They also have a history that has more drama than most protocols.
Here are 33 points to help readers understand fBOMB a little better. This is accompanied by an infographic shown below.
Infographic
33 points about fBOMB
fBOMB is the first independently launched token on FTM on Mar 16th 2021, 2310 UTC
BOMB is deflationary. 1% of every amount transferred is burnt
BOMB has a maximum supply of 1 billion
20+% of the supply had already been burned
By adding more dApps to increase use cases, the average burn rate of BOMB will be raised, thus increasing its value over time
fBOMB was cloned from a similar contract from Ethereum but deployed on FTM
BOMB token was created by an anon dev nicknamed ‘Bob’
There is a strong sense of community right from the start. Just a few days after the launch of the token, the community has developed a website and a lottery dApp on their own.
When the project is just starting to take off, the anon dev ‘Bob’ dumped everything and left the project. The price tanked and the project lost its momentum
The project was revived on May 25th 2021 by Millennium Club and they are responsible for growing the project
A new decentralized exchange called BombSwap was responsible for the growth of fBOMB liquidity
BombSwap are very manoeuvrable and adaptable and can add new farms and projects in a flexible manner
It’s important that the first project on FTM is not a failure and that is the reason for reviving it. Otherwise, the entire FTM blockchain will have a negative connotation to it
Millennium Club has an early mover advantage on the FTM ecosystem and knows many people from different protocols
Millennium Club accumulated a lot of governance power in different protocols
They intend to use the voting power to form long term partnerships such as with CRE8R DAO
To partner with CRE8R DAO, they voted with 10% of the entire SpiritSwap voting power and bought a lot of CRE8R tokens
This caught the attention of CRE8R DAO and both partnered up as a result
There are plans to make some BOMB-LP assets to be used as collateral for borrowing and they have the voting power to make it happen
Shrapnel (SHRAP) is inflationary. It is launched together with the dex BombSwap
SHRAP is used for incentivizing liquidity providers and also for partnership with other protocols
SHRAP can be earned by staking liquidity in the Farms section of the BombSwap dex
SHRAP has a maximum cap of 8888 tokens, after which the emissions will stop
Minutes to Midnight is a game in which the last person to buy a launch code, before the timer is up, wins the majority of the pot accumulated throughout the round
The code for Minutes to Midnight is built from scratch and it began with an article on Ethereum being a dark forest where everyone works for economic incentives
Every 100 codes bought in Minutes to Midnight raises its price by 1%
Fantomon is a fun trading card game built on FTM
Trainers are able to give Fantomon food to develop them
Fantomon are partners of Millennium Club and fBOMB
Millenium Club and fBOMB holds about 20% of the governance power in Fantomon
Lottery works to stimulate burning of BOMB
There is a ticket price for entering and with a maximum number of players allowed. When enough players are in, a random player is chosen and gets the total accumulated BOMB put in
The original dev exit scammed for like $40,000, We are somewhere where no one thought we would be and I’ve barely gotten started.” - Fierydev
All information presented above is for educational purposes only and should not be taken as investment advice. Summaries are prepared by The Reading Ape. While reasonable efforts are made to provide accurate content, any errors in interpreting and summarizing the source material are ours alone. We disclaim any liability associated with the use of our content.