It’s been less than three weeks since the launch of BOMB Chain, the exciting new layer-1 blockchain from BOMB Money. The chain’s TVL and transaction volumes have been rapidly increasing, but things are just getting started. A new blockchain presents major opportunities for early adopters to make money, which is exactly what we’ll cover in this article!
To get started on BOMB Chain you’ll need to hold some BOMB to cover gas fees. The great news is gas is incredibly cheap and just one BOMB will likely cover hundreds of transactions.
Since we announced the launch of BOMB Chain, BOMB has massively outperformed Bitcoin and that’s not surprising given it now has so many use cases on the chain. Therefore, simply by holding BOMB you have significant upside opportunity as volume, TVL, and the number of protocols on the chain continue to grow. However, you can also earn high yields on your BOMB tokens by easily farming them and watching your stack grow (see below!).
So, you’ve got your BOMB and are ready to take advantage of its price appreciation, but let’s look at some even more exciting ways to make money:
Farming on BOMB Chain
BOMB Chain has a range of autocompounding vaults, where you can easily start earning high yields on a range of assets including stablecoins like USDC, USDT and BUSD. Autocompounding does all the work for you meaning all you have to do is stake and you’ll automatically earn the daily % rate shown.
There are multiple farms paying over 1% a day at the time of writing – here’s just a few of the current rates!
BOHM, a fork of the incredibly successful OHM protocol, is a brand-new protocol on BOMB Chain launched less than a week ago. Buy BOHM, stake it for sBOHM, and earn more sBOHM via rebases every 8 hours. With the protocol having just launched, the rebases are INCREDIBLY high – over 20% daily at time of writing! This will naturally adjust to a more sustainable rate so only those jumping in early will benefit from the current rate.
Bonding will also be coming soon where users will be able to buy BOHM at a discounted price in exchange for a range of assets and LPs. Not only is this great for users, but it also supports the protocol in building a diverse treasury that can be used to support the health of the overall ecosystem.
Watch our 1-minute video here on how to get started with BOHM!
This is part of a 3-video playlist that you can watch in just 3 minutes if you need help buying BOMB and bridging it to BOMB Chain.
In simple terms, arbitrage is the act of taking advantage of price discrepancies. Buy a token for one price and sell it immediately for a higher price elsewhere. Price variations between chains are particularly common and are caused by a few factors including liquidity, transaction fees, liquidity incentives, and market psychology. It’s perfectly normal and presents a great opportunity for those who know how to take advantage of it!
Read our detailed blog here on how to identify and act on arbitrage opportunities.
There’s so much more happening on BOMB Chain, but ceasing the moment to become an early adopter of a new layer-1 blockchain could be one of the best investments you ever make!