Midas Capital Have Onboarded Bomb.money
We are happy to announce that Midas Capital have onboarded bomb.money with the creation of the BOMB pool.
About The BOMB Pool
Pool structure:
- Collateral: BOMB, BTCB, Cake LP (BOMB-BTCB)
- Borrowable: BTCB
LTV for BOMB pool assets:
- BOMB 30% LTV
- BTCB 80% LTV
- Cake LP (BOMB-BTCB) 50% LTV
ERC 4626
Both BOMB and BOMB-BTCB LP utilize the ERC-4626 tokenized vault standard and the flywheel contract to allow users to deposit BOMB and BOMB-BTCB LP into the pool as collateral while continuing to earn rewards. Here’s an article to help you learn more about the ERC-4626 vault standard.
When a user deposits BOMB or Cake LP (BOMB-BTCB) into the pool, the Midas Protocol automatically stakes these assets into the xBOMB and Pancakeswap staking contracts, respectively. The flywheel contract then funnels the staking rewards back into the pool so the users can claim their rewards while their assets are being used as collateral.
BOMB users no longer have to choose between staking their assets for yield and using their assets as collateral — they can now do both!
About Bomb Money
Bomb.money is an exciting algocoin ecosystem designed to bring high and sustainable yields while maintaining exposure to Bitcoin. It is based upon the work of the tomb.finance project on the Fantom network. The protocol provides the means for its underlying BOMB asset to maintain an algorithmically pegged value to BTC at a 10,000 to 1 ratio. Providing users the opportunity to take complete control of their stake and position within the bomb.money ecosystem, users can implement various strategies to maximize their earning potential.
About Midas Capital
Midas Capital is a new DAO within the Tribe DAO ecosystem, bringing Rari Capital’s Fuse pools to EVM compatible blockchains. Fuse a permissionless money market allows anyone to create customized and isolated pools for lending and borrowing any asset. Pool creators have the flexibility to modify various parameters (interest rate curves, oracles, collateral factors, etc.) according to their risk appetite.
