What is Tomb Shares (TSHARE)? What is the TSHARE token?
In this article, we will discuss information about the Tomb Shares project and the TSHARE token. What is Tomb Shares (TSHARE)? What is the TSHARE token?
The $TOMB algorithmic token serves as the backbone of a rapidly growing ecosystem aimed at bringing liquidity and new use cases to the Opera network. The underlying mechanism of the protocol dynamically adjusts the supply of $TOMB, driving its price up or down relative to the price of $ FTM .
Inspired by the original idea behind Basis, as well as its predecessors (bDollar and soup), Tomb.finance is a multi-token protocol consisting of the following three tokens: -Tomb ($TOMB). -Tomb Shares ($ TSHARE) -Tomb Bonds ($ TBOND).
What makes $TOMB different from other algorithmic tokens?
Unlike previous algorithmic tokens, $TOMB is not pegged to a stablecoin, instead, it is pegged to $FTM. Why is this? Tomb.Finance believes in the potential of Fantom Opera and has chosen to align its mission to provide value and derive value from the future growth of $FTM. In addition to current and future use cases such as FTMPad, $TOMB aims to become the primary medium of exchange in Fantom Opera – this will be achieved by providing a mirrored liquid asset to $FTM.
One of the main shortcomings of previous algorithmic tokens has been a lack of use cases, leaving no good reason for anyone to want to use or hold them. To successfully maintain long-term linkage, the Tomb team will maintain a focus on innovation around enhanced functionality and use cases.
TOMB – Tomb Token
The TOMB token is designed to be used as a medium of exchange. The stability mechanism built into the protocol is intended to keep Tomb pegged to 1 Fantom Token (FTM) in the long term.
Please note that TOMB is actively set through the algorithm, it does not mean that it will be rated at 1 FTM all the time, as it is not rated. TOMB should not be confused with crypto or fiat-backed stablecoin.
TSHARE – Tomb Shares
TOMB Shares (TSHARE) are one of the ways to measure the value of the TOMB Protocol and shareholder confidence in its ability to hold TOMB close to parity. During epoch expansions, the protocol mints TOMB and distributes it proportionately to all TSHARE holders who have staked their tokens in Masonry (boardroom).
TSHARE holders have the right to vote (governance) on proposals to improve the protocol and future use cases within the Tomb financial ecosystem.
TSHARE has a maximum total supply of 70,000 tokens distributed as follows:
1. DAO Allocation: 5,500 TSHARE purchased linearly over 12 months
2. Team Allocation: 5,000 TSHARE purchased linearly over 12 months
3. The remaining 59,500 TSHARE is allocated to incentivize liquidity providers in two groups of actions for 12 months.
TBOND – Tomb Bonds
The main job of TOMB Bonds (TBOND) is to help incentivize changes in TOMB supply during an epochal contraction period. When the TMB TWAP (Time Weighted Average Price) falls below 1 FTM, TBONDs are issued and can be purchased with TOMB at the current price. Trading TOMB for TBOND burns TOMB tokens, taking them out of circulation (deflation) and helping the price rise back to 1 FTM. These TBONDs can be redeemed for TOMB when the price is above par in the future, plus an added incentive for as long as they remain above par. This equates to inflation and selling pressure for TOMB when it is above parity, helping to push it towards 1 FTM.
Unlike early algorithmic protocols, TBONDs do not have expiration dates.
All holders can redeem their TBOND for TOMB tokens as long as the Treasury has a positive TOMB balance, which typically occurs when the protocol is in epochal expansion periods.
Period duration: 6 hours
TSHARE deposits/withdrawals to/from masonry will lock TSHARE for 6 epochs and TOMB rewards for 3 epochs.
Claiming TOMB rewards will lock staked TSHARE for 6 epochs and subsequent TOMB rewards can only be claimed 3 epochs later
TOMB distribution during the expansion
80% as a reward for TSHARE Stakers in the boardroom 18% goes to the DAO fund
2% goes to the DEV fund
Epoch Expansion: The current expansion limit is based on the TOMB supply, if there are bonds to redeem, 65% of minted TOMB goes to the treasury until it is full enough to meet the bond redemption. If there is no debt, it will follow the capped maximum expansion rate
Masonry User Interface Information Available
The next seigniorage indicates a countdown timer for the next epoch. (The duration of each epoch lasts 6 hours)
APR refers to simple returns in USD value relative to the amount of TSHARE wagered (USD value). Note: APR fluctuates from time to time and depends on certain factors such as:
Amount of TSHARE staked on masonry (locked value)
Masonry in periods of contraction
Masonry will not wedge any GRAVES ( NO REWARDS IN MASONRY ) while TWAP < 1.01
Masonry in debt phase
The Debt Phase takes place in expansion times that start after a contraction period in which there are still Tbonds left to be redeemed.
65% of the Expansion during the Debt Phase is allocated to the Treasury Fund to prepare for the TBOND Redemption. This amount is still reserved regardless of whether or not TBOND holders are redeeming bonds.
Once the TOMB in treasury is full enough to meet all outstanding bond redemptions, expansion rates will resume normal.
TBONDs issued by era during downturns can be found in Regulations.
The fund is controlled by the developers of TOMB Finance that conducts buybacks and acts as a reserve to help maintain parity.
DAO wallet address
TOMB Finance DAO Features
The Dao fund is the second line of defense besides the bonus mechanism. The DAO fund is controlled by the developers and will then move to a governance system to vote on the use of funds in certain areas of the project and outside, including investment, marketing, etc.
The information about the DAO is as follows:
When TOMB TWAP is below 1, the DAO will initiate rebuys. These will be done at a time decided by the core team and will not be released until the protocol is expanded again to prevent the initial execution.
When TOMB TWAP is extremely high, the DAO will sell some TOMB to help restore parity and prepare their reserves for buybacks next.
The DAO fund will hold a variety of assets at the discretion of the core team.
The fund may or may not invest in safe projects for return and growth at the discretion of the team.
How to buy Tomb Shares (TSHARE) Token?
The first step to buy Tomb Shares (TSHARE) Token: Configure Metamask and buy Fantom /FTM Token.
- The first thing will be to create a Metamask account and for that here I leave the tutorial: Create Metamask account.
- The second thing will be to configure the FTM network With Metamask and for that, here is a tutorial: Add Fantom to Metamask .
- The third thing will be to buy FTM Token, here is the tutorial: Buy FTM Token
Second step to buying Tomb Shares (TSHARE) Token: Transfer FTM Token to Metamask.
Well, for this, what we have to do is go to Binance and hit “Wallet”-“Fiat and Spot”
Now we will get the following window in which at the top, under the main Binance menu, we have to hit “Withdraw”
Once we give it, by default we will get Fiat, so we click on “Crypto” and the next screen will skip, where the first thing will be to paste the Metamask address.
We paste this address in Address and select the Fantom token in Coin and also in Network, select the amount we want to transfer and that’s it.
Third step to buy Tomb Shares (TSHARE) Token : Buy TSHARE Token
Now we have to go to the following link: SpookySwap
Once inside this Swap, the first thing we have to do is connect Metamask, to then select the token at the top FTM, and at the bottom we click on it and a list will appear in which we give search and write TSHARE.
We can paste the contract 0x4cdf39285d7ca8eb3f090fda0c069ba5f4145b37 in case it does not appear directly when looking for the token.
Then we click on it and the following screen will appear, where we have to put the amount of FTM that we are going to exchange for WIS Token and hit Swap.
And ready we already have it bought.