2omb Finance

Overview

2omb Finance is an algorithmic token pegged to Fantom Opera's native token FTM, operating on the Fantom blockchain. It was designed as part of a broader tomb fork ecosystem that includes other tokens like 3omb.

Purpose and Utility

The intended purpose of 2OMB is to maintain a price peg to FTM through algorithmic supply adjustments. The protocol employs various DeFi mechanisms including staking and farming rewards to maintain this peg.

Business Model Evaluation

The core business model revolves around maintaining the token's peg through algorithmic mechanisms and providing yield farming opportunities. The protocol generates value through transaction fees and protocol-owned liquidity.

Development and Adoption

The project appears to have limited recent development activity. While it achieved significant adoption during the peak of Fantom DeFi activity, current usage has decreased substantially.

Token Distribution

Token distribution information is publicly available through the smart contract, with initial distribution including allocations for liquidity mining and protocol reserves.

Revenue Model Analysis

The primary revenue mechanisms involve lending and yield farming, which are interest-bearing activities not aligned with Islamic finance principles.