2022–03–29 Tomb Tuesday: Update 29
Happy Tomb Tuesday, my fellow Tomb Raiders!
Congratulate yourselves on the latest BRR!
These latest prints are critically important (and even more satisfying) for Tomb because — once again — it shows the strength of our community and protocol. The past few months have been hectic for all of us, but we remain stable. We have remained strong as a community and as a team, we remain firmly in the Zen Zone, and Tomb has started to print once more — as expected — and patience is being rewarded.
We bring up the issue of stability quite often, and for good reason: when markets are as volatile as they have been all month, stability is a rare quality. Our TVL continues to grow and Tomb continues to weather the uncertainty, while we — the Tomb Finance team — remain focused on building and improving.
You need look no further than the picture below, which shows the price of TOMB in terms of FTM. Our print target is over 1.01, which is when emissions of TSHAREs begin. Once again, Tomb is battle-tested and we have maintained stability despite the negative events of the recent past.
As you can see, the peg has been steadily rising over the past several weeks, and has remained stable despite severe market volatility and negative events within global geopolitics and the defi community. Part of this stability is due to the strategies that the community has been utilizing along with new products and strategies delivered by our team, as well as the work that we are all doing together. Every single day, we are building, educating, and working tirelessly to ensure everything we do is in the best interests of our protocol and our community.
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 +
REMINDER ON PEG AND PROTOCOL
We want to take this opportunity to remind the community that the work does not stop just because we print. In fact, the exact opposite is true: printing is only the beginning. We need everyone to continue fully utilizing the available options, and we encourage users to not sell TOMB directly to FTM, but instead to sell TOMB for MAI first, because the price impact is minimal by comparison. This is illustrated in the following flowchart:
If you want to protect the peg, stabilize the protocol, and continue earning easy and fruitful returns, this is what needs to be done. Everyone wants a high peg and for Tomb to print. This is how we help that happen.
We want to continue to remind you of the ability to utilize lending or borrowing in place of selling for stables, and to remind everyone of all the opportunities within the Cemetery — especially the LPs that put earnings in your pocket while helping to build the protocol’s war chest for future stability. This is not the Tomb of yesterday, but the Tomb of tomorrow. There are many options for you to stake your assets and earn three-digit — and even four-digit — returns, and these options exist not only when Tomb is printing but also when Tomb is contracting or in the Zen Zone. That means you continue to make money regardless of market conditions. These options include single-staking TOMB with protocols like Tarot, to more advanced options like staking LPs in Beefy and utilizing those BIFI receipts to borrow MAI to buy TOMB and resupply it in Tarot.
There are loads of strategies and different ways to utilize assets within the Tomb ecosystem — far too many to list in one announcement, which is why we encourage spending time educating yourself and others by watching videos on Tomb’s YouTube channel, talking with our mods on Telegram, and participating in the Tomb strategy channel on Discord. We will continue to provide more education and updated strategies as we grow and evolve.
The following flowchart (which will be interactive soon) should help sum it up as well:
TOMB SWAP UPDATES
Tomb Swap continues to grow rapidly with only launching less than a month. Far more growth to come!
As announced per last week’s Tomb Tuesday update, TOMB-FTM paired on TombSwap will soon be incentivized with its own staking pool in the Cemetery. We are nearly finished with testing this new staking pool along with the TSHARE-MAI LP. The ability to stake these new LPs is imminent.
Limit Orders and other bug fixes on Tomb Swap will go live at the same time as these new LPs go live in the Cemetery. I am extremely excited about this next Tomb Swap update as these new LPs enable deeper liquidity and better trading for pairs along with an enhanced user experience.
FELIX UPDATE
We continue to thank you all for your input on what other assets you would like to see listed on Felix in addition to Tomb Finance ($TOMB) and our ecosystem projects ($FANTY, $LIF3, $QI, and $MAI). We’re now over 29,000 respondents — in just two weeks!
Let your voice be heard: https://forms.gle/8S5kM92mFfcVNbk16
TOMB + BASED
Our partnership continues to grow with Based Finance as Tomb Swap’s BASED-TOMB liquidity pool is now live along with Based incentivizing it by launching a new pool for this pair. We will be sharing a portion of the fees with Based for all LPs paired on Tomb Swap. This makes it a win-win for both protocols and the Tomb Ecosystem. We have more in the pipeline as well.
Happy #TombTuesday!
As we’ve said before, patience will be rewarded.
KEEP CALM AND TOMB ON!
