There’s just three and a half weeks until BSHARE emissions end on November 30! During this time, we want to make sure investors that are farming assets critical to our ecosystem’s success are even more highly rewarded than they currently are. We’re therefore proposing a governance vote to revise reward allocations on BOMB.Money to more heavily incentivise farming BOMB-BSHARE and excitingly a new pair – introducing BOMB-PHUB!
As always, we’d love your thoughts and feedback so please do use this thread to discuss the proposal.
A quick reminder as to why BOMB, BSHARE and PHUB are so critical to our ecosystem:
As the native token on BOMB Chain, BOMB will have an abundance of use cases, all creating continuous demand for the token. This includes being the gas & governance token for the chain, along with validators being required to lock up 25,000 BOMB each.
BOMB reaching its 10:000:1 peg with BTCB means BSHARE will become the ticket to earning newly-minted BOMB. This will lead to significant demand for BSHARE.
PHUB is, of course, the ecosystem’s revenue-sharing token. When the entire ecosystem does well, so does PHUB - that’s because its buybacks are based on share token allocations. Healthy protocols above peg = high share tokens which means more PHUB buybacks that are distributed to stakers.
So what are we proposing?
We’re proposing BOMB-BSHARE rewards are increased, along with a large proportion of rewards being allocated to the new BOMB-PHUB farm. This would be achieved through reducing reward allocations for BOMB-BTCB and BUSM-BUSD.
Here’s what this means in practice for reward allocations:
Current allocation: 30%
Current allocation: N/A
Current allocation: 60%
Current allocation: 10%
While it may seem counterintuitive to reduce rewards on the main BOMB liquidity pool, there some key reasons for the proposed adjustment:
- The two farms that would receive the additional rewards as a result of the reductions are both more beneficial to the ecosystem and to a majority of our investors. BOMB-BTCB is half BOMB ecosystem tokens. BOMB-BSHARE and BOMB-PHUB are both entirely BOMB ecosystem tokens – and the three we anticipate seeing greatest price appreciation ahead of the BOMB Chain launch.
- We’re also aware that a high proportion of the funds in BOMB-BTCB are held by users who’ve simply forgotten about them, lost access to their wallet, or lost their LPs etc. We therefore don’t anticipate liquidity materially decreasing in the BOMB-BTCB pool even with the rewards cut down significantly.
At the point we launched our strategy in July, we confirmed BUSM will not be a priority area and therefore, we feel it appropriate to reduce reward allocations.
PHUB’s main liquidity pool will remain PHUB-BTCB and our plans to accelerate liquidity building on this pair will continue as previously communicated. Nothing changes related to the current pool and its farm on CZpegs.com. The change would be the addition of a new, high-paying farm on BOMB.Money for PHUB+BOMB. This will create buy pressure on both assets as people want to earn these final BSHARE emissions over the month of November!
In summary, our proposal allows us to more heavily reward those farming assets that will be central to our future success.
The vote will have two options:
- Implement the proposed changes
- Leave the existing farm allocations
As always there’ll be a 24 hour window for PHUB holders to vote on the proposal. The vote will open at 9pm UTC on 4/11/2022.