2022–04–05 Tomb Tuesday: Update 30
Happy Tomb Tuesday, my fellow Tomb Raiders!
This week marks the seventh month since my team and I took over Tomb Finance! What a journey it has been, and we are just getting started.
As you may recall, we took over in September 2021 following the Gatekeeper exploit. You can read the recap of The Postmortem Revival of Tomb Finance: Past, Present, and Future from this past February to see how far we’ve come since we took over Tomb.
Per the chart below, you will see how our team not only revived Tomb’s peg and value, but then continued to stabilize it — even during the worst of times. This is thanks to our focus on building and continuing to drive Tomb Finance to the next level.
Most importantly, however, is you — the community. Your continued support and trust in Tomb is what has kept our team and the protocol going. Our drive to continue to build and take Tomb to the next level is thanks in large part to all of you, along with our mission of leading the advancement of crypto and DeFi. Let’s continue to work together and grow Tomb together as ONE.
Timelines
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 +
We Are Just Getting Started
As many of you are aware, it’s been an eventful week with the launch of new LPs, additional Tomb Swap features, and the rapid increase in the price (and volatility) of Fantom. With all this action on Tomb Swap (e.g. migrations from LP to LP) and with the markets in general, we expected the peg to move a bit as everything gets settled.
Rest assured, the peg will continue to remain stable as it has been and we will print again very soon. This is part of the market cycle — and as per last week’s Tomb Tuesday, there are multiple ways that you, as an investor, can support the peg and reap benefits despite volatile market conditions: https://tombfinance.medium.com/2022-03-29-tomb-tuesday-update-28-2517b43462ac.
What’s Next
We took over and revived Tomb Finance. We’ve stabilized it. And now we are advancing and growing Tomb Swap with the new LPs and features that will help the protocol (more on that later). So, what’s next?
Here are some hints on what is to come and what will be announced in the coming weeks:
- I (Harry Yeh) have made an acquisition that will benefit the Tomb Ecosystem. This acquisition will expand our development team and add further capabilities and features to Tomb and its ecosystem. This will be important as we are rapidly growing and expanding, thus top talent and additional capabilities are needed to ensure the best results are delivered to our community and investors.
- Tombchain. Layer 2. Tomb is Gas! There has been a lot of progress on this behind the scenes and we are excited to share updates on this in the near future. We believe this is a real game changer and will be worth the wait. In the meantime, here’s the landing page: www.tombchain.com. HINT: Optimistic roll ups on Fantom are what we have been focusing on and are in early Alpha and Testnet for Tombchain.
- TSHARE emissions. We have a detailed plan to address the emissions schedule and will provide an update in the coming weeks (Super Short Term)
Your patience will be rewarded and we are excited for what the future holds!
TOMB SWAP UPDATES
Tomb Swap hit the $100M liquidity milestone last week on March 30th — and now just a week later, it’s reached $200M in liquidity and growing!
As announced last week on Twitter, TOMB-FTM and TSHARE-MAI pairings are now available on Tomb Swap via staking in the Cemetery; limit order functionality and additional bug fixes are also now live.
Here’s a reminder of the importance of these pairs:
TOMB-FTM paired on Tomb Swap is now incentivized with its own staking pool in the Cemetery. We are excited about this for numerous reasons, and one of its major benefits will be to help Tomb’s peg and liquidity by pairing TOMB-FTM on Tomb Swap, along with fees and liquidity staying within our Tomb ecosystem.
The TSHARE-MAI LP in the Cemetery, which earns you $TSHARE, is now LIVE. Along with TOMB-MAI LP, both of these stablecoin LPs ($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 automatically accumulate more $TOMB or $TSHARE by LP rebalancing.
- If $FTM goes up you are automatically taking profits in USD.
- These LPs will increase buying pressure and reduce selling pressure on both $TOMB and $TSHARE.
As a result, this delivers further stability and growth in the near-, short-, mid-, and long-term despite volatility in the broader markets.
On a final note, we are aware of a few other bug issues and our team is hard at work resolving them. Stay tuned for updates. We appreciate your patience!
HACKEN AUDIT
As part of routine checkups of our protocol, Tomb Finance requested a Hacken audit on Tomb’s token. We’re proud to announce that we scored an 8.9/10 overall and this result continues to validate the stability, strength, and quality of Tomb.
Read the report here: https://hacken.io/wp-content/uploads/2022/03/TOMB-Token_29032022SCAudit_Report.pdf
FELIX UPDATE
With over 32,000 responses, we’d like to thank you all for your input on what other assets you would like to see listed on Felix in addition to Tomb Finance ($TOMB) and our ecosystem projects ($FANTY, $LIF3, $QI, and $MAI). The survey is now closed and we have all the results for our team to review.
TOMB + BASED
Our partnership with Based Finance continues to grow stronger. For the latest on Based, check out their #BasedFriday updates. Here’s last week’s update: https://medium.com/@basedfinance/based-friday-april-1st-2022-update-5-dca3a33ba6fd
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. Thank you for joining us on this journey. We’ve got a lifetime of prints ahead!
Happy #TombTuesday!
KEEP CALM AND TOMB ON!
