Crypto Macro Trends for 2022
- Thread starter johnarb
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*** Post is for entertainment purposes only!!
Update to this, as I've been spending a lot of time on 2Omb Discord, and with so many bullish views and mentions of FTM, I've started building a bag of FTM again. NFA, of course, dyor
TVL in the Fantom ecosystem is healthy and growing
https://defillama.com/chains
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*** Post is for entertainment purposes only!!
Tomb Protocol (and all the forks like 2Omb) are seigniorage projects, like central banks, they print money, but money is crypto tokens/assets in the cryptos world
So, Tomb is creating an asset token that is pegged to FTM, the asset is $tomb. There is an important use-case for this
As you're familiar with Fantom network, the costs of running a node is to lock in 1M FTM coins, so the more Fantom nodes that are running for decentralization, the less FTM coins will be available for the network and its ecosystem
I didn't realize that. If 1M FTM is required to host a node, that's a hard case for decentralization.
This is bad for network growth, as the gas fees will go up as the available FTM coins become scarce, among other things like making it difficult to implement defi LP pairs with FTM
To get back to Tomb, as with central banks, they print money (Tomb) as rewards to 2Share owners, but as you know, that's the same with any central bank, they debase the value of the money (Tomb) so then it becomes below peg which means Tomb's price is less than 1 FTM
Do you mean Tshare rather than 2Share?
So to fix this, they issue Tomb Bonds TBonds so they go into debt, and no more printing of Tomb and TShares owners don't get any rewards.
So if Tomb's price is less than FTM, that triggers an issuance of TBonds. Are TBonds used to market purchase Tomb or sell FTM? I'm not seeing TBonds are directly tradable, are they meant not to be?
Only the LP farms are getting paid rewards in TShare tokens
TBonds are debt and they get redeemed for Tombs which get burned, so kinda like the Fed Quantitative Tightening, removing money (Tomb) from circulation increasing the value to get above peg worth over 1 FTM
So, they're all excited because once the bonds are paid, Tomb is debt-free, and money-printing goes full brrr
Why? Wouldn't a Tomb above peg trigger Tomb selling or FTM buying?
You asked about 2Omb?
Warning!! Major shilling below
I got out of Tomb and let me tell you, 2Omb has never gone under peg except for 1 epoch
This is amazing!! All Tomb forks have gone under peg within a few days, except 2Omb
2Omb is more successful than papa Tomb
What changes did they make to improve the protocol?
I purchased all my 2Shares at more than double the current price and yet, I'm still profitable and will recoup all invested capital in 3-4 days
How is that possible?? The reason is because over 2000% APR in the single staking of 2Shares paid every 6 hours
Good one! Single staking is over now, correct?
The LP 2Omb/2Share farm is paying over 2300% APR
That's APR not APY so can compound every hour if you want on LP's and every 6 hours on Boardroom and get hundreds of thousands of APY %
I only compounded rewards the first 2 days, gotta balance risk, lol
I see that there is very low supply, is there a hard cap?
Then the project released 3Omb project as POL (Ohm protocol) protocol owned liquidity to support 2Omb/2Share
The future is bright. Very bright!! for 2Share
(2Omb is a peg token, not meant to go moon)
Printing money every single day, every epoch, every 6 hours, but every few seconds if in LP farm
iykyk
And this is during the cryptos carnage in BTC/FTM and all of cryptos
The key is to hodl and convert rewards to stables or FTM and sit back even if the token value crashes due to crypto market impact
As long as 2Omb doesn't rug, everything chill
I wish Fantom foundation sees that 2Omb is the successful peg token project and give the funding to the 2Omb project since the volume is great on it
2Omb is providing the liquidity peg to FTM purpose of Tomb but with a market cap that is so tiny
Disclaimer first, I'm very new to Tomb protocol and forks so whatever info I provide may be incorrect, haha, please read the docs provided on the 2Omb discord resources or even the original Tomb docs
1. Yes, that's why the Tomb protocol is a great project if it can achieve a peg or near stable peg to FTM, can be used as liquidity token in lieu of FTM, i.e. in DeFi
2. Yea, defo a typo, meant TShares
3. You buy TBonds using Tomb when under peg, you can redeem TBonds for FTM when over peg 1.01, so bascially you bought FTM for a discount and in the process you burnt Tomb tokens
There is no exchange, so Harry is promising a swap on the website, which did not work for me as I was stuck with some TBonds, maybe in the future it will work
4. Not really sure!! But somehow, every Tomb fork project out there goes under peg and could not recover, but 2Omb has been over peg for over 100 epochs!! With no billionaire investor and wealthy friends propping it
All 2Omb has is a 16yo dev, but a couple of nights ago another dev became part of dev team
The 2Omb community led by TheRisky and Mechoking and others have been the key to success of 2Omb and 3Omb
5. When Tomb is above peg, TShares are a money printing machine, remember this is a seiniorage project, brrr
TShares are getting 777% APR if Tomb is above peg, payable in Tom rewards every 6 hours (epoch)
6. 2Omb single staking called Boardroom is the bread and butter of Tomb protocol. Every epoch you get paid in the native token. In Tomb, it's called Masonry
So, in 2Omb, if you put $50,000 worth of 2Shares in the Boardroom, you get a little over 4% daily APR so ~$2,200 in 24 hours (4 epochs)
4% daily APR!! it was 7-8% 10 days ago, lol, so a week ago, you're beating the official US inflation rate in 1 day
3Shares is printing 7% daily APR right now in the 3Room, the equivalent of Masonry and Boardroom
Reminder, Boardroom and 3Room (2Omb and 3Omb projects, respectively) have not gone under peg, so money printing in full force, unlike the papa Tomb or other Tomb forks
The rewards can be sold as soon as you get them or compounded for extreme degenz
The emission on 2Shares will stop in April so the hope is that it will become a scarce and valuable asset
1. Traders on the other side of the trade. I think all Tomb fork launches are like that, they start very high then crash but volatile and tradeable
2. POL = protocol owned liquidity
3. Tomb is completely separate project and team and very big and well financed with billionaire Harry Yeh and wealthy friends
2Omb and 3Omb are a fork of Tomb, both created by the same 16yo dev as improved versions of the Tomb project
No financiers. No funding. No dev tax (except 2% on the sell side of 3Omb)
This is probably why the project has been so successful, everything goes to the community and hodlers and number one rule and advise on Discord "Always take profits"
Sell on the green and buy on the red, NFA
4. The dynamic of 3Omb to support 2Omb is not my expertise, but I read snips here and there, there's a treasury on 3Omb DAO, there's bonding mechanism where swapping 2Shares for 3Omb with a huge bonus benefits the 2Shares because those tokens are burnt, and stuff like that
sorry, best to go to the official docs for more info
5. I switched from 2Omb/2Shares LP farming on 2Omb website to 3Shares/FTM LP farming on 3Omb website
you might say I fomoed on the APY because somehow a daily APR of 5% is not good enough when I can get over 15% daily
Of course with a higher risk of IL if 3Shares price goes down significantly from the time I purchased the LP
still have my Boardroom 2Shares, never gonna let that go, that's long term play
Harry probably watches these fork projects from the side and he may have some people look into them, I'd imagine he's quite surprised by the resilience of 2Omb (and 3Omb) as the only successful Tomb fork
But the market cap is so tiny on both 2Omb and 3Omb that's pocket change to Harry
If he does invest in 2Omb/3Omb, it will be because he wants to find out why it's kicking Tomb's ass
It's because of the community which I'm not sure how it can be scaled to Tomb's size and stay successful
It may very well be what Harry is attempting to do (build a successful community), with his at a minimum weekly updates for Tomb hodlers and supporters and team
In the same way Dani and frog nation... and Axie and the community and Defi kingdom and the commuunity and so forth
1. Traders on the other side of the trade. I think all Tomb fork launches are like that, they start very high then crash but volatile and tradeable
2. POL = protocol owned liquidity
3. Tomb is completely separate project and team and very big and well financed with billionaire Harry Yeh and wealthy friends
2Omb and 3Omb are a fork of Tomb, both created by the same 16yo dev as improved versions of the Tomb project
No financiers. No funding. No dev tax (except 2% on the sell side of 3Omb)
This is probably why the project has been so successful, everything goes to the community and hodlers and number one rule and advise on Discord "Always take profits"
Sell on the green and buy on the red, NFA
4. The dynamic of 3Omb to support 2Omb is not my expertise, but I read snips here and there, there's a treasury on 3Omb DAO, there's bonding mechanism where swapping 2Shares for 3Omb with a huge bonus benefits the 2Shares because those tokens are burnt, and stuff like that
sorry, best to go to the official docs for more info
5. I switched from 2Omb/2Shares LP farming on 2Omb website to 3Shares/FTM LP farming on 3Omb website
you might say I fomoed on the APY because somehow a daily APR of 5% is not good enough when I can get over 15% daily
Of course with a higher risk of IL if 3Shares price goes down significantly from the time I purchased the LP
still have my Boardroom 2Shares, never gonna let that go, that's long term play
Harry probably watches these fork projects from the side and he may have some people look into them, I'd imagine he's quite surprised by the resilience of 2Omb (and 3Omb) as the only successful Tomb fork
But the market cap is so tiny on both 2Omb and 3Omb that's pocket change to Harry
If he does invest in 2Omb/3Omb, it will be because he wants to find out why it's kicking Tomb's ass
It's because of the community which I'm not sure how it can be scaled to Tomb's size and stay successful
It may very well be what Harry is attempting to do (build a successful community), with his at a minimum weekly updates for Tomb hodlers and supporters and team
In the same way Dani and frog nation... and Axie and the community and Defi kingdom and the commuunity and so forth
Thanks for elaborating. I might be a little slow.
What was the improvement that 2omb made over the design of Tomb?
What is the innovation of 3omb to 2omb?
If in the discord folks are being influenced not to purchase 3omb but to farm it, does this imply that those not in the discord who are purchasing 3omb at market are the greater fool?
If it's just to offer emissions faster than it can be discounted, that's not sustainable. Just sounds like a perpetually forking "kick the can down the road" protocol.
I'm not hating, just attempting greater clarification since I missed the whole Tomb development in FTM.
No worries, I answered on the 2nd reply that I'm not an expert, still very new to the Tomb protocol and fork ecosystem
I think a major difference on 2Omb vs Tomb is the emission is 4x on 2Omb something
On the advise not to purchase, should have clarified "in the beginning"
It's because the circulating supply is very low on the 3Omb or any Tomb fork launch so buying the tokens means you're not pricing in the increase of the tokens as time goes by
After a couple of weeks, then the price should be stable
On the 2Omb Discord, there are many recorded AMA's and also in the #resources channel, there are docs and diagrams and stuff like that
tbh, I never read any of them, I just learn as I go on the Discord chat
NFA, my goal is to get full ROI on every single $ invested, after that, everything is house money and will compound half of the daily rewards. After 10 days and 15 hours (verified on the block explorer history), I've achieved over 80% ROI
at the end of the day, this is defi degen not "investment". I plan to bag hold 2Shares indefinitely, but as house money
Can't be married to defi degen bagz. Best to always watch out for your own self-interests
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Making a separate post as it doesn't just apply to Tomb fork projects
With defi token launches, the creation of new tokens can be achieved with IDO/ICO or presale
But if you want the original fair launch of token distribution, you'd want a LP yield farming launch
Some can argue whales with big wallets are able to capture a big share and this is true
It's still more fair than VC's buying a Solana at pre-sale for pennies
Liquidity Pool, yield farming every single token means people are taking a risk of a scam/hack so the bigger the wallets and their asset risk, the bigger the rewards
Fair launch. that is all
With defi token launches, the creation of new tokens can be achieved with IDO/ICO or presale
But if you want the original fair launch of token distribution, you'd want a LP yield farming launch
Some can argue whales with big wallets are able to capture a big share and this is true
It's still more fair than VC's buying a Solana at pre-sale for pennies
Liquidity Pool, yield farming every single token means people are taking a risk of a scam/hack so the bigger the wallets and their asset risk, the bigger the rewards
Fair launch. that is all
Thanks. So I see on 3omb that they offering greater yield if one moves their 2omb/FTM spLP tokens there.
I'm not understanding why the same dev would fork twice.
Do all three (Tomb,2omb,3omb, etc) work together synergistically?
How do the Tomb folks view these forks?