We’re proposing a vote to determine whether we should revise our share token farms on BNB Chain to be paired with BOMB instead of BTCB and BNB.
Given our plans to launch BOMB Chain, our own delegated proof of stake blockchain in Q4 2022, the BOMB token will have many new utilities:
• Gas & governance token for BOMB Chain
• Required to be staked by validators who keep the network secure and are rewarded with a share of transaction fees
• Community members will have the ability to delegate their BOMB to the validators to share in transaction fees.
• BOMB Mobile App users will be able to unlock higher APRs with BOMB
As a result of this, many community members are already accumulating while prices remain low.
BOMB will be a critical part of the ecosystem and given it is pegged at a 10,000:1 ratio with Bitcoin, it will be a strong base for any liquidity pair. We know many of our community are also accumulating share tokens while prices are low so providing farms combining these assets is something we expect to appeal to many. In practice this proposal would mean:
• BSHARE/BNB rewards reallocated to a new BSHARE/BOMB farm
• bitSHARE/BTCB rewards reallocated to a new bitSHARE/BOMB farm
• CZshare/BNB rewards reallocated to a new CZshare/BOMB farm
How would this work in practice?
• Share rewards allocated to existing farms would be stopped at a pre-communicated date, allowing investors to remove their LPs.
• The same day, the new share farms, paired with BOMB would begin. Investors would create their new LPs and deposit to the farms.
There will be two voting options:
- Leave the share farms on BNB Chain as they are
- Reallocate the share farm rewards on BNB Chain from Share/BTCB and Share/BNB farms to new Share/BOMB farms
PHUB holder snapshot: 22:08 UTC, 10 October 2022
Community discussion window: now until 22:08 UTC , 11 October 2022
24 hour voting window: 22:08 UTC, 11-12th October