Hi all!
Our protocol, bomb.money, is a rapidly growing ecosystem based around our primary token BOMB. BOMB is pegged to BTC at at 10,000:1 ratio, and peg is maintained via seigniorage.
xBOMB is the governance token of our protocol, our users can receive it by staking their BOMB.
While over peg, we enter expansion phase, and mint new BOMB. 20% of all minted BOMB is directly sent to the xBOMB contract, which allows it to have a high APR.
Allowing users on BSC to utilize their xBOMB as collateral to borrow MIM would be a game changer on BSC, and bring much new traction to the Abracadabra Money protocol. It has the safety of BTC, combined with high APR.
I have deployed an oracle which uses a combination of a chainlink BTC_USD price feed, and our own protocols time weighted average price oracle of BOMB/BTCB. I have deployed a clone of the same master contract that wBNB is using. As well, for demo purposes, I deployed a copy of the Abracadabra site with a few changes to be wired up to the production ready contracts I’ve deployed. I only deposited a very small amount of MIM for borrowing, but enough is there to test.
For anyone looking to test, BOMB can be bought here and staked here.
Once you have an xBOMB or two, you can test it out: https://abra-demo.bomb.app
I’d love to bring this to governance vote, I am sure it will do amazing things for MIM popularity on BSC.
Please let me know any feedback on what I have mentioned, or questions about the implementation of our oracle/master contract clone.
Aaron Shames
BOMB Money
