BOMB Money In The News!
We have an incredible two weeks lined up for BOMB Money. If you thought the recent BOMB, BSHARE, and PHUB explosions were big, wait until you see what we have in store.
- BOMB Money will be featured on CityNews 680 on October 29 & 30. CityNews is Canada’s largest all-news radio station with over 1.3 million weekly listeners. Tune in to CityNews all weekend as Aaron’s clip will be airing both days across Canada!
- The papers have been signed and ANKR is now officially going to be powering the BOMB Chain, our very own blockchain. This is huge news and as such, will be featured in major news sites both in the traditional finance and crypto markets alike. We will share links to the articles as they go live throughout the week. Stay tuned to our socials!
- We’re just two weeks away from the Web3 & Blockchain World event taking place live in Toronto on Nov 8 & 9. BOMB Money is the official innovation sponsor of the event and Aaron will be speaking in the DeFi portion and the topic couldn’t be better – “What Will Be DeFi’s Next Killer App?”. What a great place to talk BOMB Mobile App!
- In case you missed it, BOMB Money CEO Aaron Shames wrote an article showing the math behind how PHUB can reach $100k. It’s definitely worth a read. PHUB is still an absolute steal at today’s prices. Buy PHUB now before it’s too late!
PolyPegs Is Now Live – Start Earning High Yields On Your MATIC Now!
PolyPegs is officially live! We are currently in the Genesis Farms stage, where stakers are earning massively high yields on their MATIC and USDC to earn their share of initial PMATIC tokens, our MATIC-pegged token.
Once the Genesis Farm stage wraps up, our high-yield PMATIC-WMATIC farms begin offering high yields with 100% exposure to MATIC. This is the best place in DeFi to stack your MATIC if you want exposure to Polygon.
As PolyPegs is one of our advanced protocols, it may be overwhelming to someone not familiar with seigniorage protocols. If you’re wondering what the optimal PolyPegs investment strategy is, you can check out this blog post that teaches you how a protocol like this can print money forever!
Governance vote to accelerate PHUB/BTCB liquidity building
You may remember that in August, a governance vote passed leading to 45% of PHUB buyback funds being re-allocated to building liquidity on the PHUB/BTCB pair.
While we saw great progress following implementation, progress slowed at the point a large PHUB holder and liquidity provider had their wallet stolen by a scammer, leading to their wallet being drained. From this point liquidity has remained low, meaning even reasonably small trades have large price impacts. While the 45% allocation has been incrementally improving this, it simply hasn’t been enough to reach a reasonable liquidity threshold. Therefore, a further governance vote was proposed last week, with 100% of voters supporting a revised approach.
How will the new approach work?
In summary, Aaron will personally add $1,000 or the equivalent of 2 PHUB (whichever is higher) to the pool on a daily basis. This will remain in place until 1,000 tokens have been deployed, or one year has passed, whichever comes sooner. The liquidity will be locked for one year and the LPs will then unlock linearly over 6 months. It’s our intention for the protocol to buy out this liquidity prior to the lock period ending.
This approach allows us to quickly and sustainably build liquidity, while also enabling the full buyback allocation to be used for its intended purpose – i.e. 100% will be used for buybacks as opposed to the current 55% for buybacks and 45% for liquidity building.
Next steps
- Automation to facilitate the PHUB being zapped in will be implemented by the end of this week.
- We’re also exploring a new approach to building liquidity through “bonding” (not to be confused with the existing bonds we offer) where investors will be able to create LPs and sell them to the protocol for discounted PHUB (we will likely offer this on other tokens as well). This enables us to build protocol-owned liquidity as opposed to “rented” liquidity. This is great to support price stability. Keep an eye out for more updates on this in the coming weeks!
BOMB Money Keeps Growing
As BOMB Money continues to grow, our team also continues expand. We’re happy to announce that we have filled two of our open positions. Congratulations to Max, our new Social Media Manager, and Dave, our new Lead Moderator.
With so much on the go, it’s vital that the BOMB Money story is shared to every channel and every audience possible. As our new Social Media Manager, Max will ensure our message is being delivered across all channels and that as we bring crypto to the masses and expand into new segments, the messaging is tailored to the correct audience. He is very excited to get going and officially starts this week! Welcome to the team, Max!
With our socials and marketing ramping up, along with the upcoming BOMB Chain and BOMB Mobile App release, we will be seeing a massive influx of customers and potential investors across all of our channels. It’s crucial that there as our userbase grows, we provide ample support to anyone requiring assistance at any time of the day. As our new Lead Moderator, Dave will play an integral role in promoting an inclusive, safe, fun, and interactive online community across all of our channels while ensuring that help is given to anyone requesting it as soon as possible and in a professional and easy-to-understand manner. We expect an influx of users not necessarily familiar with DeFi or even crypto at all, and with Dave’s guidance, he and the rest of our moderator team will guide them to the best place in DeFi – BOMB Money!
