2omb Finance
Crypto Overview
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.
Crypto Impact
To assign a comfort level investing in 2omb Finance from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to 2omb Finance.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.