New Year 2022: SpookySwap and Tomb Finance on the Fantom blockchain

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(Edited)

Starting the New Year with a 2nd closer look at SpookySwap, I'd also like to introduce you to a closely aligned "cousin" - Tomb Finance!

Source: #Announcements channel, on 31 Dec 2021, in SpookySwap's Discord server.

I have spent a fair amount of my available time for investing recently on the Fantom blockchain. Why? The fees are remarkably low and the transactions speeds are very fast.

With that nice foundation, I have looked into the protocols available and keep coming back to SpookySwap, as I wrote about recently.

Source: #Announcements channel, on 24 Dec 2021, in SpookySwap's Discord server.

Since that post, they've gone over $1,000,000,000 in TVL, so clearly they are doing something right!

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Let's take a closer look ... 🧐

SpookySwap Finance

DeFi Llama is a great "go to" source on everything "DeFi," so what does it have to say about these two protocols?

Source: DeFi Llama's Chains page, on 31 Dec 2021

In beginning to do the research needed for this post, I was impressed to find that the Fantom blockchain has recently surpassed the Polygon blockchain in TVL. Wow! That was an impressive finding for me.

Note its performance relative to the other chains? 👍🙂

With the newly created Cronos blockchain "coming up hard" on the outside!
Maybe my next post ... 😉

Source: DeFi Llama's Fantom blockchain page, on 31 Dec 2021

Up near the top, "leading the charge" for the Fantom blockchain? Both Tomb Finance and SpookySwap, each with a TVL in excess of $1B!

Note well the impressive change stats for each of them. "One more time with enthusiasm," they must be doing something right!



For several days contemplating laying aside my "tar baby" project to write this post, what got me "over the hump" was finding this proposal, in my daily check of SpookSwap's very active Discord server. To do what?

This new proposal aims at adjusting underperforming Farms and introducing a new MATIC farm!

There is 0 net dilution from the addition of the MATIC farm.

I liked the sounds of this a lot. And promptly voted in favor of it. Note well its reference to making some adjustments on "underperformers." I think any protocol needs to see consistent maintenance to keep on top of all that is happening.

And adding a MATIC farm? Great! I am a big fan of both blockchains. With this proposal, in support of it, they also announced a new addition to their bridge, adding a Polygon option for the first time!

So ... I decided to "jump in" on this new LP, with some of my own funds.

Source: SppokySwap's Bridge page.

Since Khal's "in the next few days" update on PolyCub in late October, I have had a considerable amount of MATIC
"gathering dust" waiting ... And waiting ... And ... Well, I'm sure it will eventually show up on the Khalender, but ...

Source: Investing Caffeine post on
"Money Goes Where Treated Best" ... 😉

I had never needed to use SpookySwap's bridge before, so I made this new addition to it my first experience. How did it go?

Transferred all of my MATIC in minutes.
Cost?
A whopping grand total of $0.005 in MATIC!

Wow ...

Compare that to some recent experiences on other bridges I could mention ... Once again, what's not to like?

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Both participating in SpookySwap's governance proposal mechanism, as well as experiencing how smoothly this bridge transaction worked, culminating in adding to my investment via their new FTM-MATIC LP has taken my support for this great protocol on a great blockchain to a deeper level.

Wen FantomCub? 🦁🚀

Tomb Finance

What is Tomb Finance's value proposition? Here is their answer, on their home page.

The first algorithmic stablecoin on Fantom Opera, pegged to the price of 1 FTM via seigniorage.

What?! What is seigniorage @roleerob?

Source: "... Seigniorage Power" post on Economonitor

It has to do with the creation of money.

Seigniorage is the difference between the face value of money, such as a $10 bill or a quarter coin, and the cost to produce it.

Source: Investopedia

Tomb Finance accomplishes this via some complex algorithms tied to their 3 tokens, as explained here:

  • Tomb ($TOMB)

  • Tomb Shares ($TSHARE)

  • Tomb Bonds ($TBOND)

What caught my eye very early on, in my own DYOR, was the following explanation for why Tomb Finance was created:

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.


This statement got me involved, as I too believe in the potential of the Fantom Opera blockchain. Very much so, given its track record since I first found out about it. Very fast transactions at remarkably low cost in fees. What is not to like?

Okay, so they wanted to support Fantom and make it profitable to do so. Sign me up! How to provide liquidity?

Source: Tomb Finance's Liquidity page.

Tomb Finance and SpookySwap Finance are closely linked. I have generated all of my TOMB LP liquidity via SpookySwap, in support of my investment in it. Then I have staked these LP investments into Tomb Finance's reward pools.

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I'll let you, dear reader, investigate this further, should you find it of interest. Tomb Finance is of great interest to me and my growing investment in it has been doing nicely, thank you very much! 😉

Closing

The Fantom blockchain is demonstrating growing strength, recently surpassing the Polygon blockchain in TVL, to the #6 position overall. It has been helped considerably by both Tomb Finance and SpookySwap, each with a TVL in excess of $1B!

Neither are built on "get rich quick" schemes, but appear instead to be built for the long-term. Your own research into their tokenomics may convince you they are worthy of consideration for your own portfolio.

I’d love to hear any feedback you may be inspired to provide.

Until "next time," all the best to you for a better tomorrow, as we all work together to build up our Hive Communities and add increasing value to our Hive blockchain! 👍 😊

Respectfully,
Blogger @roleerob
Hive "Dolphin" 🐬, LeoFinance "Whale" 🐋, & Man Cave "Dragon" 🐉

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P.S. I am not a financial adviser. Please consider this post as financial information and / or opinion only. Please perform your own due diligence, in whatever manner seems best to you, if you have found it to be beneficial.

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Posted using LeoFinance and “immutably enshrined” in the Hive blockchain on Saturday, 1 January 2022!

🌲 No trees were harmed in the publishing of this post! 🌲


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27 comments
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pixresteemer_incognito_angel_mini.png
Bang, I did it again... I just rehived your post!
Week 87 of my contest just started...you can now check the winners of the previous week!
!BEER
7

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Dear @roleerob, Thank you for useful news!
Perhaps you wrote an article about financial lending and investing through blockchain, I understood.😅
I understood that it was similar to Internet banking.

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Yes @goldgrifin007, it is somewhat like banking. There is a lot of creativity going into various attempts to "reimagine" money. We'll see long-term, how successful these ventures are. For now, I am drawing attention to ones which seem to be doing quite well.

Posted Using LeoFinance Beta

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Dear @roleerob!
I felt that Americans have a natural gift for creating wealth through information and data.😳
I am amazed that Americans are creating a new world through information and data.
I was surprised to learn that information and data are the raw materials for creating wealth and power.
I envy Americans who are always challenging uncharted territory to create new wealth and power! 😄
In the world I live in now, overlords and ruling classes monopolize information and data in order to monopolize wealth and power.
So, the creation of a new economy and finance through blockchain will be difficult to accept in the world I live in.

Unfortunately, the current East Asian world seems to be turning into a communist economy.😦

It is a pity that my English speaking ability and experience do not understand your excellent ideas and experience, and articles.😂

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(Edited)

"It is a pity that my English speaking ability and experience do not understand your excellent ideas and experience, and articles."

Yes. It is ... 😉

Seriously, in response to your comment, this whole new "world" of crypto and blockchain technology is much bigger than America. There is no question of the influence of many nationalities, including some Americans. And including many from your part of the world ...

I would like to think the concept of what America has historically been - a beacon of liberty and hope - is what has inspired those all over the world who are creating this new "world."

As far as dealing with the Almighty State? Long-term, it remains to be seen how successful these creative efforts will be, at overcoming their desire to maintain their power and control.

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Yes. It is ... 😉

Seriously, in response to your comment, this whole new "world" of crypto and blockchain technology is much bigger than America. There is no question of the influence of many nationalities, including some Americans. And including many from your part of the world
...

Well, I believe that the United States, who initiated the first democratic revolution, is the only one capable of advancing the world.😄
At present, Europe is already becoming a socialist economy.
East Asia, including China and Japan, is again regressing towards a feudal economy dominated by overlords.😅
If I spread your ideas, I will go to jail. Because from the point of view of the ruling class I am a lowly serf.😨

I would like think the concept of what America has historically been - a beacon of liberty and hope - is what has inspired those all over the world who are creating this new "world."

I agree with you! The world I live in now seems to be dominated by Chinese communist ideology.

As far as dealing with the Almighty State? Long-term, it remains to be seen how successful these creative efforts will be, at overcoming their desire to maintain their power and control.

The world I live in has been under Chinese economic domination for 2000 years. So, they are accustomed to the lifestyle of gaining wealth by flattering the Chinese overlords.

My brethren long been a slave to Chinese money!😂
So, I have the unfortunate guess that they will again become slaves to Chinese money.😔

Even today, they have a cowardly and irresponsible imagination that America will protect their lives.
Perhaps without the help of the United States, they would have become vassals of what is now China.😞

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https://twitter.com/LeoAlpha2021/status/1477646536855076864
The rewards earned on this comment will go directly to the person sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.

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I hope this brings some eyes to our LeoFinance community in general and our #LeoAlpha initiative in particular. Thank you!

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I have recently heard the APRs were very high on fantom, but I need to do more research.

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Welcome to Fantom my dear ! I have been talking about it for the past 2 months and felt quite alone haha 😂 !

Glad to have you onboard 😉

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Yes, well, thank you @vlemon! I don't write that much these days, so did not cover my initial experience with "jumping in" to the Fantom blockchain. I got started in October, so about 3 months or so into it now and very pleased with how it is going so far.

Thanks for stopping by and commenting! 👋🚀

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Congrats on your success on FTM and a great overview as always. A lot of people missed out on it this year which is a shame because a lot of projects are really great, including Tomb and Spooky.

Btw if you are still on the lookout for cheap and fast transactions check out Metis DAO, an ETH L2 rollup that is ridiculously fast but doesn't have a very large ecosystem at the moment. I'm just dipping my toes into it and it looks very interesting.

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Thank you @jerrythefarmer. I don't write as much these days, but what I do write, I try to make it "count" ... 😉

As for the Metis tip, is you have written on this, please send me a link. I will happy to look into it further.

Posted Using LeoFinance Beta

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Dear @roleerob,

Your support for our previous proposal has been much appreciated but it expired end of December!
Do you mind renewing your vote to our proposal for 2022 so our team can continue its work!
You can do it on Peakd, ecency, Hive.blog or using HiveSigner.
https://peakd.com/me/proposals/199

We wish you a Happy New Year!

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What fiat onramps exist for this project?
Can you get capitol from bsc to there?
thanks

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