Check out our frequently asked questions below. If you can’t find what you’re looking for you can ask through our “contact us” form.
The great thing about BOMB is you can earn rewards in a number of ways:
- Stake BSHARE in our boardroom. When BOMB is above its 10,000:1 peg with Bitcoin you’ll earn amazing APRs, with rewards distributed in BOMB.
- Deposit BOMB and BTCB (BNB Chain issued Bitcoin) into our farms. You’ll earn rewards in BSHARE, which you can then deposit in our boardroom to earn even more BOMB when it’s above peg.
- Coming Q4 2022 – Deposit BOMB in the BOMB Mobile App to earn higher APRs on your staked crypto.
- Coming Q4 2022 – Become a BOMB Chain validator and earn a share of transaction fees in for keeping our network secure, paid out in additional BOMB.
- Coming in Q4 2022 – Delegate your BOMB to a validator to share in transaction fees but without requiring the technical know-how to set up a node or the need to maintain the software & hardware required.
BOMB is the native token on BOMB Chain meaning it is used for gas (network fees) and is required to become a network validator (those who keep our network secure and earn a share of transaction fees). This alone means there will always be high demand for BOMB! However, it will have even more utility through holders being able to earn additional APRs when staking via the BOMB Mobile App and having the option to stake their BOMB with validators to share in transaction fees.
It’s normal for BOMB’s price to fluctuate both above and below its peg and is in fact part of its intended design. When BOMB is below peg it provides opportunity to buy at a discount. You can also buy Bonds which burns BOMB (therefore reducing the circulating supply), helping the price to increase. In return you’ll earn a bonus if you redeem your BOND above 1.1 peg.
BOMB originated on BNB Chain and can only be minted when above peg. When BOMB Chain was created it was necessary to pre-mint the maximum supply. It was important we accounted for future minting on BNB Chain for years to come, so the maximum supply was set at 250M. However, our smart contracts are designed to ensure BOMB can only enter the supply from BNB Chain and become available on BOMB Chain when it’s been bridged.
You can sell your BOMB here for a range of cryptos including stable coins. Before you do, you might want to have a look at the many ways we offer to earn rewards on your BOMB.
Like any cryptocurrency, there are risks to holding BOMB and you should always do your own research and familiarize yourself with our Terms & Conditions ahead of investing.
The primary purpose of BOMB Chain is to power our revolutionary BOMB Mobile App. We’ll start with a small group of trusted validators but in 2023 we’ll invite other builders to expand our ecosystem.
The fact BOMB Chain has a native token pegged to BTC makes it incredibly unique. This, coupled with the strong utility & tokenomics of BOMB, along with the network’s speed and security, will attract builders from across the DeFi space. As we build our treasury our aspiration is to support builders through grants.
BOMB Chain operates a Delegated Proof of Stake (DPoS) consensus mechanism. DPoS is an evolution of Proof of Stake (PoS) where users of the network vote and elect delegates to validate transactions.
We’re currently finalizing these requirements and more information will be shared in Q4 2022. Sign up to our mailing list to keep up to date.
Validators will play a critical role in keeping our network secure and running effectively. They will therefore earn a portion of transaction fees.
At the point the network launches the validators will primarily be operated by BOMB Money and the chain’s primary focus will be to support our mobile app. However, we plan to expand our validators and work towards becoming fully decentralized by the end of Q1 2023.
BoMB Mobile APP
The BOMB App will allow users, regardless of their experience in crypto, to set up their own wallet and begin earning rewards in less than 2 minutes.
We’ll offer fixed deposit periods allowing us to provide lucrative, yet sustainable returns for our investors.
Learn more here.
The returns we offer will be powered by our existing seigniorage protocols. As the majority of liquidity within our pools will come from single staking funds, where investors commit to a minimum deposit period, it will allow us to effectively manage the funds.