Here at BOMB Money we’re on a mission, and that mission is to regain our peg of 1.0+.
We know our farms and auto-compounding vaults make good returns even when we’re under peg, but let’s face it, we need to get back to peg in order for our protocol to maintain its health.
While I am very confident in our roadmap, both short and long term, it would be greatly beneficial to the protocol and our community to reach peg prior to some of our new features being released.
A few key reasons peg is important:
- Multiple key partnerships are on hold until we reach peg
- Current website puts much focus on peg, it does not look attractive to new investors being below peg
- BSHARE price will increase as peg increases, which will pump our APRs up!
- Protocol in much healthier state for when our new features +UI launches, to have game changing APRs, and allow our “BOMBMAX” launch to be much more successful
And of course, it’s a lot more fun when we’re over peg, too! Seeing the excitement from the community when we deliver those huge BOMB prints is something I really look forward to getting back to!
BOMB While Under Peg
Remember, when we’re under peg, that’s a great time to buy BOMB because you’re essentially buying Bitcoin at a discount. Well, when we’re really under peg, that’s an even better time to buy BOMB because it’s at an even bigger discount.
Gameplan for Peg
As most know, peg increases when we have more buyers of BOMB than sellers. There are a few ways we can increase the impact of those buys, as well as incentivize those buys.
Incentivized BOMB Buys:
We will run an aggressive xBOMB promotion, which will run until we reach peg. Exact details of how this will work can be found below.
Removal of liquidity from BOMB-BTCB:
The less liquidity in BOMB-BTCB, the more impact BOMB buys will have on regaining peg.
Instructions to Benefit from xBOMB Promotion & Help Regain Peg
- If you have liquidity in the BOMB-BTCB pair, remove it.
- Convert BTCB received from your pair into BOMB
- Deposit received BOMB in xBOMB
- Receive daily bonus BOMB until peg
- Once above peg, 20% of Boardroom BOMB will be sent directly to xBOMB as rewards, so staying in xBOMB will remain very beneficial
From the time of this announcement, BOMB stakers (xBOMB holders) will enjoy an impressive daily APR bonus until we reclaim peg! There are also some potential bonus milestones if we reach them within a certain time limit. Check out the details below:
BOMB Staking (xBOMB) Incentivized Rewards Until Peg Is Reclaimed
Daily bonus BOMB, equal to 1% of total BOMB in xBOMB. This gives all xBOMB holders a guaranteed 1% daily return in addition to existing xBOMB rewards.
For example, if you have 1,000 BOMB staked, your xBOMB position will grow by 10 BOMB daily until peg.
This all happens automatically, as long as your BOMB has been staked for xBOMB at https://app.bomb.money/xbomb
You will notice the amount of BOMB that your xBOMB is worth will go up on a daily basis!
If we have 600,000 BOMB staked for xBOMB, the protocol wallet will send 6,000 bonus BOMB to the xBOMB contract, increasing all BOMB stakers holdings by 1%.
Bonus Milestones for Extra BOMB!
Bonus Milestone 1: Daily APR boosted to 1.25% if BOMB reaches 0.75 peg by next week’s AMA on March 9, 2022.
Bonus Milestone 2: Minimum daily APR boosted to 1.5% if BOMB reaches 0.85 peg by next week’s AMA on March 9, 2022.
Conclusion & Quick Recap
Let’s all join forces and break our BOMB-BTCB LPs/farm/vault positions and get into xBOMB for the juicy promo!
The doors this will open for us, along with features soon to be released, will make maintaining peg much easier.
A second article in the series has been posted: Day 2: Regain PEG + xBOMB Status Update
Let’s go get it #BOMBERS !
Your based dev,