Tomb algorithmic token is the first project and the base foundation of a ecosystem that will bring utility and value for token holders.
Designed by the Tomb.finance team as the first algorithmic token pegged to FTM instead of a stablecoin, on OPERA Fantom. It works around a solution that can adjust the token supply to move the price of the token itself up or down, in the direction of a target price to bring programmability and stability to the price.
Inspired by Basis original idea, and its predecessors improvements (bDollar and soup), Tomb is a multi-token protocol that consists of the following tokens: Tomb (TOMB), Tomb Shares (TSHARE), and Tomb Bonds (TBOND).
First of all, it's not pegged to a stablecoin, but to FTM. Why? because we believe in the potential of the OPERA Fantom network, therefore we are trying to add more value to FTM token by following its price and adding additional use cases.
And thats our second reason, use cases. Our team members have been long time supporters of algorithmic coins and we all agree on the fact that they all fail in one thing: use cases. There is need for people to hold the peg token, and that can only be attained with new functionalities.