Bomb Money Opens New Doors for Bitcoin Enthusiasts
Bitcoin has been around for over a decade, and it’s still the most popular cryptocurrency by far. Still, despite numerous upgrades over the years, Bitcoin’s underlying technology often fails to compete with newer cryptocurrencies. Bomb Money presents a unique opportunity for crypto-enthusiasts interested in Bitcoin but wary of the token’s slow transaction speeds and expensive fees.
What is Bomb Money?
Bomb Money (BOMB) is a unique Binance Smart Chain (BSC) token with a value that’s pegged to Bitcoin (BTC). As BTC price goes up or down, BOMB’s unique protocol either mints new tokens or removes them from the total supply to attempt to match the price to BTC. Ideally, 10,000 BOMB tokens should be worth roughly one BTC, although they aren’t always perfectly matched.
Because BOMB is built on the Binance chain, users benefit from Binance’s enhanced transaction speeds. Binance tokens can process 100 transactions per second, whereas BTC can only handle around five transactions per second.
BOMB also allows users to earn passive income by utilizing their auto compounding vaults. These vaults are similar to traditional staking platforms. Staking LP tokens in these vaults lets BOMB’s liquidity providers earn the same LP tokens they’re staking.
Unlike other staking platforms, BOMB’s auto compounding vaults increases holders’ allocations automatically. Every few minutes, the site sells a portion of users’ earnings. The site uses the proceeds from the sale to mint more LP tokens which are then added back to the vault on the user’s behalf.
How does Bomb Money Work?
The Bomb Money Protocol uses four tokens. Each of the four tokens has their own unique price and exist to help maintain BOMB’s price.
BOMB tokens are the primary token used in the Bomb Money ecosystem. These tokens are pegged to the price of BTC. xBOMB tokens (XBOMB) are used mainly as governance tokens and users can earn them by staking BOMB.
Bomb Bonds (BBOND) incentivizes users to trade their BOMB tokens when the price is
below the BTC peg. BOMB Share tokens (BSHARE) can be staked to earn BOMB.
When BOMB’s price is too high, new tokens are minted and distributed to BSHARE holders. These newly minted tokens inflate the supply, decreasing the cost of BOMB. When BOMB’s price is too low, the protocol mints BBONDs. BOMB holders can exchange their tokens for BBONDs, which they can later trade for BOMB at a premium price. This intricate system helps keep the price of one BOMB token equivalent to roughly 0.01% of a single BTC token
Addicted to $BOMB,