I was on Snowy Owl discord when a bunch of 2omb/3omb admins were in there, someone posted a screenshot of their admin roles on Snowy Owl
It's all good, we're just trying to make an honest living
I absolutely love Tomb fork protocol projects because of the game theories and incentives systems at play!!
Looking at your explanation above, there's so much to unpack. Having participated briefly in farming 3omb in the initial stage, absolutely saw the high APR (I was getting 20% daily that night, but was too chicken I only put $10K worth coz I couldn't believe how much I was getting for the LP rewards and that there was low risk), and the premium price of the 3share with very low circulating supply
I have a blindspot with AC's as I don't use them, but they play a role with locked tokens and generating yields through token rewards
I think it is important to acknowledge that Tomb protocol seiniorage projects are modeled after fiat ponzi. I like how initially the Tomb project if it established an algorithmic stable coin pegged to FTM could have acted as proxy FTM tokens in defi ecosystems, but I personally don't know if can ever be trusted given how easy the peg can be broken even on daddy Tomb itself
If we start with the premise it's a ponzi, we can plan accordingly. I'm a high APR chaser because of the downside protection it offers plus profit potential tailwind, it's like throwing a dart at 6-foot wide target from 10 feet away and any point on the target represent profits provided you get out before they clear the board
There's a lifespan
The 2omb/3omb model is the new standard now because it has expanded the lifecycle. Snowy Owl made a lifesaving move 2 days ago before sno death-spiraled when they released Sno single staking early on schedule. Team learned from 2omb/3omb mistakes of being complacent with peg. It's much harder to bring peg back above with bonds and other stuff because the trust on the ponzi may collapse
Snowy Owl released the SSS ahead of schedule because they want to make sure Snowy Owl is ready for the next phase, L2 implementation onchain in a few weeks. The equiavalent of 3omb to 2omb but not a separate project
PulseDao with the most experience on ponzi with hex is going multi chain expansion of the ecosystem, planning a launch on Avax soon, plus pulsechain in the future, everyone is incentivized to buy and hold tokens with airdrops and genesis pools carrot on a stick messaging. This is again just expanding the lifecycle and may fail once a certain TVL or circulating supply or whale profit taking takes place that causes a cascade of selling
How do we profit from all of these ponzi/tomb fork projects? What I learned from the 2omb/3omb is don't drink all the koolaid, just maybe a quarter. What I mean by that is that it is still important to believe in the team, the community, but plan for the exit as soon as you enter
Personally, I'm only entering the LP now, not going into the boardroom anymore. This has no timelock for easy exit at anytime. I want to start taking profits when the position is worth 300% of initial risk capital and also become very aggressive with profit taking especially on good pump days
And keeping an eye if the project is becoming weak and may fall apart. I almost sold out of Snowy Owl which would have been a huge mistake, lucky for me they saved the peg
Below the peg, there is no money printing and with no money printing, the project's purpose of printing money (crypto assets) is not present and no point to stay, imho
Thank you very much, Sprout!!
Came across this fair launch;
https://app.excalibur.exchange/fairlaunch?r=MHhiODAzY2MzMDg3MjdkZTg3ZTgyZTkwZDYwYzZmYWUzYzQ2ZDIwMTJl
The above is a ref link, one could just pull up the excalibur site as well. Byte Mason's did the same and it was the first I've seen it on a tomb fork, this looks a bit more polished and looks like it's integrating a swap as well.
SSS is good and I think what's needed for a durable tomb fork is to incentivize the long term holding of bonds. Perhaps something like the BR gives rewards as pegtoken encapsulated as a yield producing time-locked bond. This way instead of receiving rewards that can instantly be dumped, those rewards emit over time independent of the BR. However one has to stake in the BR first in order to get these bonds. SSS of bonds would have a similar effect but still be exposed to whale activity. (similar to traffic light controlled highway on-ramps)
I'm in snowy owl with a token amt same with pulseDAO. At first, I cast shade on pulseDAO due to the RH, but like you said, don't get drunk on the kool-aid.
If you have any FTM bags, I've been getting var 20-50% APR on SUPPLY side on Tarot. No risk of liquidation, only lock-up if utilization is at 100%. What I've found is that when 100% utilization happens it also coincides with also receiving high APR.
Yeah 2|3omb was great, even though they lost the partnership with Tomb and Harry, they can be great again if they are if fact building and not fronting.
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