2022–03–15 Tomb Tuesday: Update 27
My fellow Tomb Raiders,
Tomb Finance is a safe haven for Fantom holders and for everyone in crypto and DeFi. Our protocol provides a wide variety of options to earn yield during the ups and the downs of the market while providing long-term growth and constant stability.
Per the chart below, with the community working alongside us and understanding the protocol, Tomb’s peg remains strong and stable, as being only five percent, on average, below peg given the current period of tumult and uncertainty is a major win — and the peg is steadily climbing as well while markets are still down.
Tomb has been battle-tested, withstands volatility, and remains strong and within the “zen zone” near or just above peg — even during negative events of the recent past. This stability is a testament to Tomb’s protocol, the bottom-line results delivered, our team, and the strength of our community.
All in all, we understand how you are feeling as well. Please be assured that my team and I are keeping a very close eye on everything and that our focus on building, market making, and expanding liquidity options has not changed. Our support for Fantom has not changed, either. We are also hard at work to ensure that we continue to be prepared and are actively deploying assets and upgrades as needed in order to help protect Tomb’s peg.
Now on to #TombTuesday updates and answers to what matters most to you:
As a friendly reminder, here’s some clarification on timelines since crypto moves so quickly:
Super Short-term — Days, Weeks < 1 month
Short-term — 1 to 2 months
Mid-term- 3 to 6 months
Long-term — 6 months +
TOMBSWAP UPDATE: STAKING AVAILABLE FOR TOMB-MAI-LP & TSHARE-MAI-LP
STAKING of both $TOMB-$MAI stablecoin Liquidity Pairing (LP) and $TSHARE-$MAI LP in the Cemetery to earn $TSHARE is now LIVE. Both of these stablecoin LPs ($MAI is pegged to USD) will not only be two of the most important LPs on the market, but will bring tremendous benefits and enable further liquidity and stability for the Tomb ecosystem and its investors. Here’s why:
- If $FTM goes down you are automatically accumulating more $TOMB or $TSHARE by LP rebalancing.
- If $FTM goes up you are automatically taking profits in USD.
- Increases buying pressure and reduces selling pressure on both $TOMB and $TSHARE.
As a result, this delivers stability and growth in the near-, short-, mid-, and long-term despite volatility in the broader markets.
These LPs are only available on TombSwap, and you can stake and earn at the Cemetery and Beefy Finance. Please note only $TOMB-$MAI LP is available on Beefy Finance currently, and $TSHARE-$MAI LP will be available on Beefy soon.
REMINDER ON PEG
As we get through this turbulent market, we want to remind everyone that the Tomb protocol favors buy pressure on single-staked $TOMB. For example, swapping $TOMB for anything other than $MAI will affect the peg negatively. So if you want $TSHARE, it’s best to swap $TOMB for $MAI on TombSwap and then swap $MAI for $TSHARE, or swap $FTM for $TSHARE on TombSwap. For all the single-staking options, please ask our moderators on our Discord or Telegram.
FELIX UPDATE
Felix is making significant progress and we can officially confirm that our exchange will be launched by the end of Q2 2022. We have been working closely with Binance Cloud, which requires the completion of rigorous regulatory, compliance, and diligence processes in order to launch the exchange. These requirements are not only for Binance’s protection, but for the protection of our investors. Right now, we’re wrapping up an important audit, which is proceeding smoothly, and we are completing the Felix infrastructure.
Here are some highlights of Felix, your only destination to unlock the full power of the Fantom blockchain:
- Painless access to any wallet: Felix removes the uncertainties, cost, and time necessary to trade crypto. You can purchase, trade, or withdraw supported Fantom-native tokens directly to your favorite wallet.
- No bridges, no swaps: Deposit supported Fantom-native tokens such as those on the Fantom mainnet directly into your Felix wallet from either your centralized exchange (CEX) or your DeFi wallet.
- Limit orders available: Limit orders are the foundation of a trader’s thesis. Without limit orders, you’re sitting and waiting until the price is right. With regular decentralized exchanges (DEXes) you not only have to wait for the right price, but you’re also losing profit due to shallow liquidity.
Additionally, $FANTY, Felix’s main utility token, will launch at the same time. As a reminder, holders of $TOMB/$TSHARE/$TBOND tokens and their respective LPs on Tomb Finance, Grim, Reaper, Beefy, Tarot, market.xyz, as well as crosschain on PancakeSwap, QuickSwap, Trader Joe, and Pangolin from September 13, 2021 to May 12, 2022 will receive airdrop tokens. Airdrop tokens will be $FANTY and $LIF3. $TBOND holders receive 2X rewards.
We will continue to provide more updates as we get closer to launch. We appreciate your patience while we make sure everything is spot-on and ready upon release.
Lastly, we need your input! In addition to Tomb Finance ($TOMB) and our ecosystem projects ($FANTY, $LIF3, $QI, and $MAI), what other assets would you like to see listed on Felix? Let us know here by next Tomb Tuesday: https://forms.gle/8S5kM92mFfcVNbk16
TOMB + BASED
Working closely with Based Finance and our partners at QiDao Protcol, Based and Tomb are excited to announce the $BASED-$MAI LP that is now available to pair on TombSwap and staked on Based Finance. This will provide more stability, liquidity, and fees to the Tomb + Based ecosystem.
Tomb and Based are finalizing more LPs with rewards to stake that will be launched soon. This will be coming very soon. Stay tuned!
THE SPOTLIGHT
I was asked by the media this past week to comment on important issues involving crypto as well as providing clarity on a few important matters in our ecosystem.
Yesterday, I spoke with Maria Bartiromo on Fox Business regarding crypto’s watershed moment with US President Biden’s Executive Order on regulating crypto, as well as the Russia-Ukraine crisis. Watch here: https://www.harryyeh.com/spotlight/russia-ukraine-war-has-created-a-watershed-moment-for-cryptocurrency-harry-yeh
I also spoke with Cheddar News regarding crypto’s role given the Russia-Ukraine crisis, and the possible outlook for crypto with US President Biden’s Executive Order. Watch here: https://www.harryyeh.com/spotlight/russia-ukraine-crisis-putting-crypto-in-the-spotlight
Lastly, I spoke with Ran on CryptoBanter about the future of Fantom, updates on the Russia-Ukraine crisis in regards to crypto, and the latest with Tomb Finance. Watch here: https://youtu.be/JBLpt6pgCGI?t=1848
SPONSORSHIPS
Through select sponsorships of fellow Tomb and Fantom holders who are dear friends of ours, we continue to spread the message and educate the masses on crypto and DeFi — in addition to Tomb Finance and Fantom.
As the first crypto project to sponsor a Formula 1 driver and team, we’re proud to continue our sponsorship of Pierre Gasly and his team, AlphaTauri. We’re also sponsoring his teammate Yuki Tsunoda for the first time. Good luck this season, gents!
We also welcome 2021 MotorGP champion, Fabio Quatararo, to the family! Excited to see what this season brings. Good luck, champ!
The future is bright, my frends. Let’s remain calm.
Happy #TombTuesday!
TOMB ON!
