Built on the one-of-a-kind Fantom Opera Network, Fantohm has added a first-of-its-kind revenue strategy.
About the Fantohm project
Based on the FHM token, FantOHM aims to be the decentralized reserve asset of Fantom and Moonriver Networks. The developers want FHM to be a safe place to hold assets during times of volatility, while simultaneously working to generate passive income in the form of compound interest for holders.
FantOHM also introduces infinite game theory to its marketplace with its pegging and staking features, as well as the revolutionary USDB stablecoin that uses proof of burn to increase treasury revenue like no other OHM fork.
Other features:
| 1. | FHM addresses the shortcomings of stablecoins by creating a free-floating FHM reserve currency, backed by a basket of assets. |
| 2. | By focusing on supply growth rather than price increases, FantOHM hopes that FHM can function as a currency that can maintain its purchasing power regardless of market volatility, acting as an effective hedge against inflation. |
In addition to buying an FHM token on SpookySwap, FantOHM users can engage in two main strategies: staking and pegging. Stakers stake their FHM tokens in exchange for more FHM tokens. Whereas obligators provide LP or other viable tokens (FTM, DAI, etc.) in exchange for discounted FHM tokens after a fixed vesting period. The protocol mints new FHM tokens from the treasury, most of which is distributed among the stakers. Thus, the profit for the stakers will come from their automatically stacked balances.
Proof-of-Burn mechanism
Proof-of-Burn — a consensus mechanism that guarantees no double spending of an asset. Once the FHM token is burned, the value (at the time of the burn) is locked up and recorded on the chain. This means that burning an amount of FHM from a DAO transaction account will result in the same USD value. 1 dollar in FHM to 1 US dollar.