BOMBSHELL MAY 9: Sustainable BOMB, Proposals & xBOMB

#BOMBSTRONG,

BOMB Shell May 9: Sustainability, Governance, Proposals, xBOMB
BOMB Shell May 9: Sustainability, Governance, Proposals, xBOMB

What a bloodbath in the markets! Lucky for all faithful BOMBERS we know a few facts:

1 — Bitcoin will turn around, its just a matter of time.

2 — Bitcoin will suffer the least losses compared to other Cryptocurrency.

3 — BOMB Money is the perfect protocol for any market conditions to keep stacking those BTC. Ready anytime for the market turnaround!

4 — #BOMBSQUAD strongest community going! We all know that when necessary, we band together, and we can achieve anything as a team! Working together as a unit, BOMB is unstoppable!

New Discussion Forum

Lately I have been thinking that the BOMB ecosystem would benefit from a central place to see all announcements, governance proposals, and more. And be able to comment on these items and have open discussion with the BOMB team and other community members.

We have launched a Discourse based forum at talk.bomb.app. There is not much content there yet, as it was just launched today. It won’t be empty for long, it will soon be home to a popular discussion related to a new governance vote. More on this later in the BOMB Shell!

The goal of talk.bomb.app is to give our community easier access to key information, and also to allow us to collect feedback efficiently. We always take into consideration what the community has to say, feedback on our various ideas, and anything else related to BOMB! This will be the ideal spot to voice those opinions! Go signup for an account now, you can login with your Discord account!

Sustainable BOMB

Let’s talk about BOMB, BOMB sustainability, and how we grow BOMB towards that magical 5B TVL mark that has been talked about so many times.

Part of the protocol being sustainable, especially when it is a seignoriage based algocoin, is community cooperation. I have been amazed at the large percentage of our community who play as a team and only sell BOMB responsibly, and after checking peg to see if it’s the right time to be selling. A big thanks to all responsible #BOMBERS!!

I feel that another big part of sustainability, that has perhaps been overlooked, is making sure reward payouts from various aspects of the protocol are healthy amounts. As we have all seen with some of our Boardroom prints recently, it pays an insanely high amount of rewards when in full print situations.

What this leads to is a crazy high APR such as 8000%+ that has been seen recently. With rewards so high, it just takes a few medium size wallets selling their reward BOMB to drop peg.

The Proposed Sustainability Solution

Let’s nail down the exact problem before I get to what I think is a good solution. Right now, because of the price of BSHARE being fairly low, and the price of BOMB being $3+, the payouts from the Boardroom are far too large and make consistent printing near impossible.

The right longer-term solution is to grow the protocol, and allow BSHARE to naturally appreciate in value as we print consistently. As BSHARE increases, our farms will grow in size with the higher value rewards and BTC mainnet stakers will get better APRs which will help grow that user base.

Due to our inability to change the price of BSHARE, the only thing we can change for sustainability is the amount of rewards printed per expansion. This idea is very well timed with the lower TWAP requirement for prints, which was just put into action officially.

I suggest that we aim for an APR in the range of 500% to 1000% on a full, non-debt phase print. Considering how well we have done staying around peg with 8000% APR prints, having something closer to 1000% would still be very rewarding, and would pay with much greater consistency.

I ran some numbers, targeting 1000% APR, but with an anticipated BSHARE price of $200. Meaning that at $100 BSHARE, the APR is double what is shown in the calculations below.

The calculations show a boardroom print with the current settings, and then in orange beside it, with proposed changes. The two left columns are the variables used to calculate the stats shown in the two right columns. The only difference in variables is BSHARE being $200 (which lowers the APR), and a lower max expansion (0.5% instead of 1.37%).

Boardroom expansion comparison
Boardroom expansion comparison: Current vs Proposed changes

With a 0.5% max expansion, we would have max prints at any TWAP above 1.005. This should lead to some very reliable, but still high paying prints, and BSHARE price appreciation.

As BOMB grows TVL in farms and BSHARE price, we can revisit expansion percent’s to keep them in line with our goals of 500% to 1000% for sustainability.

I want to stress, if this proposal is approved, this is not a permanent change. It’s a step towards sustainability, and constantly evolving reward adjustments for the health of the protocol.

Proposals

Our last governance vote (BMIP 008) to lower minimum TWAP for prints was a huge success, and has been implemented just in time for our next vote.

BMIP 009: Boardroom Expansions for Sustainable BOMB

Based on everything discussed above in the BOMB Sustainability section, BOMB Money Improvement Proposal 009 (BMIP 009) aims to address sustainability head on.

Key points in the proposal

- New mentality overall around sustainable BOMB, and keeping rewards in-line to keep the protocol healthy.

- New max expansion of 0.5% for consistent, reliable printing, while maintaining a very competitive APR.

Check out the proposal at our voting site: https://vote.bomb.money

Discuss the proposal on our new forum: https://talk.bomb.app

XBOMB Reward Distribution Change

Unfortunately a few bad actors were taking advantage of the predictable nature that BOMB rewards were flowing into xBOMB. Luckily there was an easy solution.

We have implemented a reward distribution contract that will now randomly deposit BOMB into the xBOMB contract. Reward BOMB goes to the distribution contract, and the distribution contract sends the BOMB to xBOMB sporadically.

About 5 times an hour, an off-chain script will run, and each time it runs it has a 20% chance it will send BOMB to xBOMB. The other 80% of the time (randomly) it will do nothing and wait until the next time it runs.

When it does deposit BOMB to xBOMB, it will randomly deposit 1–10% of the total BOMB it has to xBOMB. This randomness will make xBOMB impossible to game, and xBOMB will not receive any reward BOMB directly from prints.

Rewards to xBOMB will be the same, they will just be distributed gradually to prevent abuse!

AMA with Crypto Kingdom

We are very excited to announce that this Wednesday we will be joining Crypto Kingdom for our weekly YouTube AMA! This AMA will be broadcast on YouTube, as per normal, and on their Discord! We would really love everyone to get into their Discord ASAP to start talking about BOMB, building some hype within their community and showing them how great our BOMBERS are!

To join the Crypto Kingdom Discord, please click here!

Wait, we’re not done! There will also be a $100 giveaway for attending the AMA on Discord, paid by The King (leader of Crypto Kingdom) himself! Make sure you tune in at 4pm UTC (midday EST) to be in with a chance of winning!

Sorry for the lengthy BOMB Shell, but I did feel it was important to explain the sustainability before discussing our latest governance proposal.

If you have questions, concerns, comments, or anything else to say about what is being proposed, please let us know at our new forum: https://talk.bomb.app

BASED,

Aaron & Dan

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A Tomb finance fork on BSC, with a price pegged to BTC. https://bomb.money

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Bomb Money

Bomb Money

A Tomb finance fork on BSC, with a price pegged to BTC. https://bomb.money

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