Scalability and Growth & Bitcoin Mainnet Staking

Check out AMA with Andrew Collier!

GM Bomb Squad,

Here’s a written recap summary from my AMA session with Andrew Collier.
I love doing these AMAs and engaging with all of you.
The community is essential to help us understand our features, thank you for your support.

Everything at bomb.money is designed around simplicity. If somebody has never used crypto in their life, or if they’ve never invested in crypto, we’ve got very simple and basic stats to show you how much you can earn. We’ve just introduced fiat on-ramps. Which will allow for the buying of assets on the main page easily through the UI. Our website will be a one stop shop. We’ll offer 3 tiers basically easy, medium and advanced or low risk, medium, or higher risk. The easiest tier will enable single asset staking. Where you can buy BTCB, throw it in, and just earn an APY, it just grows. Other risk levels enable participants to join the LP pools and interact with the farm and vault features.

We’ll be able to open up a lot more doors for the core protocol when our design reflects what we’re offering. For example, offering single assets staking, which is one of the more advanced options.

Essentially what we want to do is show that someone who’s new to crypto, can get in, and they can start earning immediately with single asset staking. When they want to learn more, they can learn about what a liquidity pair is and how to provide liquidity. Everything will be in one spot and easy to use.

Bitcoin Mainnet Staking

Bitcoin mainnet staking gives Bitcoin mainnet users the ability to send BTC to our BTC main net staking service which enables them to have a position with bomb money. That position with our bomb BTCB pair pays the most and is the safest. It’s the investment that I’ve mentioned several times as the greatest investment in the world, in my opinion. Certain Bitcoin users may not want to get into a liquidity pair just because they are BTC maxis. If they deposit five BTC, they don’t want half of that BTC becoming bomb. They want the five BTC to always stay five BTC and grow daily. With single asset staking on our core protocol, we now offer that to the BTC main net users. They get two options. Either do you want to make 150% APY a year or do you want to make 50% APY? The 50% is a true single asset stake, so regardless of what happens with the core protocol, their five BTC is always going to be five Bitcoin or higher.

So talk with me about in a bear market or a volatile market, how does that affect Bitcoin when it directly relates to bond money?

The main reason we picked Bitcoin is because we could algorithmically peg it and create a stable coin. We needed to choose, do we want it to peg our main currency, or bond it to BTC? BTC was the best choice for a lot of reasons. Mainly, it’s the most well known crypto. It’s the safest crypto. It’s the crypto that will drop the least in a bear market. We have protection with a historically well proven asset class. These past couple months we’ve been experiencing some negativity in the market and I know a lot of our users that got into Bomb BTCB early, our rewards have made up for the downturn in Bitcoin. They got in at $50,000 BTC. If BTC drops to under $40,000 and if the net value of their position is equal or greater than what it was before they’ve accumulated all this extra BTC and Bomb. Their positions are still breakeven with the lower BTC price. When the BTC price goes back to where it was and higher, they’re just in that much better shape because they have more assets. When Bitcoin goes back to 50K, they’re going to be doing great. And as it goes back to $50k, it’s fairly likely that it’s not going to stop there. It’s more than likely going to keep going.

One of the things to remember is that staking, mining, yield, farming, is the best way to win no matter what in crypto, whether it’s a bull market or a bear market. Essentially when participants are doing that on the bomb.moey platform, they’re buying the dip and creating passive income.

Some of the best advice I could give is that it’s almost human nature that when you see something that’s going up that you want to buy, and not miss out. And when something’s dropping, you’re scared it’s going to go to zero. So you start getting out and it’s really the wrong thing to do in crypto. When things are going down, that’s really your opportunity to buy. And when things are going up, that’s when maybe you should start shaving your position. It’s the opposite of what human nature makes you feel like you want to do. It’s all about having that discipline to say, hey, BTC is not going to zero no matter what. In the past, a lot of times it’s been pretty scary, but it’s always recovered. So whoever bought those dips, they’re the ones that are laughing and the ones that sold the dips. That’s rough, right? It’s like if you truly believe in the asset, you really don’t want to sell the bottom.

New service launch, Buy bitcoin directly on our site

We just launched another service, Bombbtc.com. So with that, you can actually just sign up on our website. And if you have no past experience in Decentralized Finance or you’re not familiar with MetaMask, you can just sign up with your email and you can buy BTC right on our site.

APY & Yield

Right now our APY is around 0.5% per day, so like 150% per year. That goes a lot higher if you’re in our auto compounders because every hour, every 2 hours we’re auto compounding the rewards. So it’s growing multiple times per day. And of course every time it compounds, you’re now earning on everything that’s already been compounded. So the APY, & the annual yield is actually much higher when you factor in the compounds, but without factoring in the compounds, you’re looking at .5% per day. In the future it’s probably going to stay around there or go higher. It fluctuates with our B share price. Our B share is quite low right now. I anticipate it to go much higher and when it does go higher, that’s going to increase the APY because that’s the reward token. Some might ask what the auto compounder is doing? It’s taking the B share rewards, selling the B share and it’s buying the assets to make your position bigger. So the higher value of B share, the more the auto compounder can buy those assets back and basically increase your position.

What’s your goal for 2022? As far as the price, what would you love to see?

I’d love to see BTCB over six digits, realistically I think that we can. I think by mid year it will be somewhere in the 3000 to 6000 range, if not higher. Our new UI is really going to focus on bomb, BTCB, which again, is the pair that I really think that almost everybody should be getting into, especially newer users that don’t understand all aspects of the protocol and they shouldn’t really be jumping into investments when they don’t understand the risks of them. So with the new UI focusing on that main pair, it’s going to strengthen our protocol as well as it’s going to get users into a safe investment that’s going to earn them a lot of yield. When that happens, we’re going to be consistently above peg. That combined with numerous other things such as BTC main net staking, we’re just going to have a lot of demand on bomb. Once Bomb is overpaid consistently, the share token will do incredibly well, as can be seen in some of the other similar protocols like Tomb Finance, that we forked their share token bounces between six and 20,000 in those ranges, and they’re not always pegged either.

We want our user base to grow into the hundreds of thousands. And we’re going to do that with our simple user interfaces. We have the marketing team that we’re working with, their second to none. They’re great. Once we have this UI in place where we can actually convert visitors, they’re just going to go to town on it and things are going to blow up in a good way.

Now we talked about some goals, but what is one flaw or thing that it’s missing currently that you want to improve on moving forward?

Well, mainly what I just mentioned about the UI and the ease of use, that is really like a huge flaw. And it bothers me every day when I visit the website. And that’s why we’re working proactively to get a new UI out as soon as we possibly can.

UI in simple terms is our website, our user interface, that’s what UI stands for. So our website is just not there yet, we’ve gotten a lot of feedback. And a new user, when they visit the website, they just see a lot of stats. There’s no clear call to action. Like, you can earn this and you just do this to earn that. It’s not yet simple like that. And that’s the simplicity that we need. And we’ve got a great plan in place that’s going to do that and more. It’s going to appeal to all users. Not only is it going to be simple for first-time users, but it’s going to also have everything that we currently have, and even some additional functionality. Our message will be delivered in a way where it’s sequential almost, where if you’re a new user, you can just kind of dabble in it and you can earn good yield and good returns. If you’re more advanced, of course you can jump into some of the more advanced features.

Education

We want to educate our users when they come to our platform and we’re going to do that with our new UI. I even have some ideas that our BTC main net staking site could be almost the gateway to BTC DeFi. Someone that’s brand new doesn’t want to set up metamask because they’re worried that they might do something wrong and lose their money. We’ll give them something super simple to get started. Just sign up for an account just like they sign up for any other website, buy your Bitcoin right on our website or just send it from an exchange. It’s really simple. And in the future we’re going to let them take that position and move it to the binance smart chain. It’d be cool to offer a Bomb University, where we could each them everything that they need to know. And once they graduate, that’s when we could give them a bonus and let them get them to set up their own wallet. And once they have set that up, we can give them the option to transfer their position over to finance matching.

DeFi is leveling the playing field and we can actually see amazing returns without having to put ourselves in positions that we shouldn’t have to. I feel like if you’re fully transparent with the community and the community understands that all of your actions might not be what’s best for our wallets but it’s what’s best for the protocol and the protocol’s users. I’ve demonstrated that, you can see in the transactions that I’ve demonstrated that. I don’t just say it. It’s actually there on the blockchain for you to look at and see.

-Aaron