Starting the New Year with a 2nd closer look at SpookySwap, I'd also like to introduce you to a closely aligned "cousin" - Tomb Finance!

^{Source: #Announcements channel, on 31 Dec 2021, in SpookySwap's Discord server.}

I have spent a fair amount of my available time for investing recently on the Fantom blockchain. Why? The fees are remarkably low and the transactions speeds are very fast.

With that nice foundation, I have looked into the protocols available and keep coming back to SpookySwap, as I wrote about recently.

^{Source: #Announcements channel, on 24 Dec 2021, in SpookySwap's Discord server.}

Since that post, they've gone over $1,000,000,000 in TVL, so clearly they are doing something right!

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Let's take a closer look ... 🧐

SpookySwap Finance

DeFi Llama is a great "go to" source on everything "DeFi," so what does it have to say about these two protocols?

^{Source: DeFi Llama's Chains page, on 31 Dec 2021}

In beginning to do the research needed for this post, I was impressed to find that the Fantom blockchain has recently surpassed the Polygon blockchain in TVL. Wow! That was an impressive finding for me.

Note its performance relative to the other chains? 👍🙂

^{With the newly created Cronos blockchain "coming up hard" on the outside!
Maybe my next post ... 😉}

^{Source: DeFi Llama's Fantom blockchain page, on 31 Dec 2021}

Up near the top, "leading the charge" for the Fantom blockchain? Both Tomb Finance and SpookySwap, each with a TVL in excess of $1B!

Note well the impressive change stats for each of them. "One more time with enthusiasm," they must be doing something right!

For several days contemplating laying aside my "tar baby" project to write this post, what got me "over the hump" was finding this proposal, in my daily check of SpookSwap's very active Discord server. To do what?

This new proposal aims at adjusting underperforming Farms and introducing a new MATIC farm!

There is 0 net dilution from the addition of the MATIC farm.

I liked the sounds of this a lot. And promptly voted in favor of it. Note well its reference to making some adjustments on "underperformers." I think any protocol needs to see consistent maintenance to keep on top of all that is happening.

And adding a MATIC farm? Great! I am a big fan of both blockchains. With this proposal, in support of it, they also announced a new addition to their bridge, adding a Polygon option for the first time!

So ... I decided to "jump in" on this new LP, with some of my own funds.

^{Source: SppokySwap's Bridge page.}

^{Since Khal's "in the next few days" update on PolyCub in late October, I have had a considerable amount of MATIC
"gathering dust" waiting ... And waiting ... And ... Well, I'm sure it will eventually show up on the Khalender, but ...}

^{Source: Investing Caffeine post on
"Money Goes Where Treated Best" ... 😉}

I had never needed to use SpookySwap's bridge before, so I made this new addition to it my first experience. How did it go?

Transferred all of my MATIC in minutes.
Cost?
A whopping grand total of $0.005 in MATIC!

Wow ...

Compare that to some recent experiences on other bridges I could mention ... Once again, what's not to like?

________________________

Both participating in SpookySwap's governance proposal mechanism, as well as experiencing how smoothly this bridge transaction worked, culminating in adding to my investment via their new FTM-MATIC LP has taken my support for this great protocol on a great blockchain to a deeper level.

Wen FantomCub? 🦁🚀

Tomb Finance

What is Tomb Finance's value proposition? Here is their answer, on their home page.

The first algorithmic stablecoin on Fantom Opera, pegged to the price of 1 FTM via seigniorage.

What?! What is seigniorage @roleerob?

^{Source: "... Seigniorage Power" post on Economonitor}

It has to do with the creation of money.

Seigniorage is the difference between the face value of money, such as a $10 bill or a quarter coin, and the cost to produce it.

Source: Investopedia

Tomb Finance accomplishes this via some complex algorithms tied to their 3 tokens, as explained here:

Tomb ($TOMB)

Tomb Shares ($TSHARE)

Tomb Bonds ($TBOND)

What caught my eye very early on, in my own DYOR, was the following explanation for why Tomb Finance was created:

Unlike previous algorithmic tokens, $TOMB is not pegged to a stable coin— it is instead pegged to $FTM.

Why is this?

Tomb.Finance believes in the potential of Fantom Opera, and has chosen to align its mission to both provide value to and derive value from $FTM's future growth.

This statement got me involved, as I too believe in the potential of the Fantom Opera blockchain. Very much so, given its track record since I first found out about it. Very fast transactions at remarkably low cost in fees. What is not to like?

Okay, so they wanted to support Fantom and make it profitable to do so. Sign me up! How to provide liquidity?

^{Source: Tomb Finance's Liquidity page.}

Tomb Finance and SpookySwap Finance are closely linked. I have generated all of my TOMB LP liquidity via SpookySwap, in support of my investment in it. Then I have staked these LP investments into Tomb Finance's reward pools.

________________________

I'll let you, dear reader, investigate this further, should you find it of interest. Tomb Finance is of great interest to me and my growing investment in it has been doing nicely, thank you very much! 😉

Closing

The Fantom blockchain is demonstrating growing strength, recently surpassing the Polygon blockchain in TVL, to the #6 position overall. It has been helped considerably by both Tomb Finance and SpookySwap, each with a TVL in excess of $1B!

Neither are built on "get rich quick" schemes, but appear instead to be built for the long-term. Your own research into their tokenomics may convince you they are worthy of consideration for your own portfolio.

I’d love to hear any feedback you may be inspired to provide.

Until "next time," all the best to you for a better tomorrow, as we all work together to build up our Hive Communities and add increasing value to our Hive blockchain! 👍 😊

Respectfully,
Blogger @roleerob
Hive "Dolphin" 🐬, LeoFinance "Whale" 🐋, & Man Cave "Dragon" 🐉

________________________

P.S. I am not a financial adviser. Please consider this post as financial information and / or opinion only. Please perform your own due diligence, in whatever manner seems best to you, if you have found it to be beneficial.

________________________

Posted using LeoFinance and “immutably enshrined” in the Hive blockchain on Saturday, 1 January 2022!

🌲 No trees were harmed in the publishing of this post! 🌲

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