Zomb2 Finance - an algorithmic token in Fantom Opera, pegged to 1$ FTM. $ZOMB algorithmic token serves as the backbone of a rapidly growing ecosystem, dedicated to providing liquidity.
Description of the Zomb2 Finance project
The mechanism, underlying the Zomb2 Finance protocol, dynamically adjusts the supply of $ZOMB, raising or lowering its price, relative to the price of 1$FTM.
Zombi.Finance — a multi-token protocol, consisting of the following three tokens:
| 1. | ZOMB token ($ZOMB). |
| 2. | ZOMB shares ($SZOMB) |
| 3. | ZOMB bonds ($BZOMB). |
Unlike previous algorithmic tokens, $ZOMB is not pegged to the full value of the token - instead, it is pegged to 1 $FTM. With the price of $FTM soaring over several months, pegging to the full value of $FTM was more difficult as the USD value of the token increased. Zombi.Finance believes in the potential of Fantom Opera and has chosen to align its mission with providing value and profiting from the future growth of the $FTM.
Zombi stock ($SZOMB) - one way to measure the value of Zombi Protocol and shareholder confidence in its ability to keep ZOMB close to the peg. During the expansion of the epoch, the protocol mints ZOMB and distributes it proportionally to all SZOMB holders who have staked their tokens in the boardroom.
The primary purpose of Zombi Bonds (BZOMB) — to help to drive change in the ZOMB supply during the shrinking era. When the TWAP (weighted average price) of ZOMB falls below 1 FTM, BZOMB is issued and can be bought with ZOMB at the current price. Swapping ZOMB for BZOMB burns ZOMB tokens, taking them out of circulation (deflation) and helping to restore the price to 1 FTM. These BZOMBs can be exchanged for ZOMBs when the price breaks the peg in the future, plus additional incentive for holding above the peg longer.
All holders can exchange their BZOMB for ZOMB tokens if there is a positive ZOMB balance in the treasury, which usually happens when the protocol is in epoch extension periods.
When can I buy BZOMB?
BZOMB can only be purchased during periods of reduction when TWAP ZOMB is less than 1. Each new era during periods of reduction, BZOMB is issued at a rate of 3% of the current circulating supply of ZOMB with a maximum debt of 35%. This means that if the bonds reach 35% of the circulating supply of ZOMB, the issue of the bonds is terminated. BZOMB TWAP (time weighted average price) is based on the ZOMB TWAP price from the previous epoch at the end of that epoch. This means that ZOMB TWAP is real-time and BZOMB TWAP is not.