Bomb Money is a BNB chain token that is built on Binance. It is pegged to Bitcoin. In other words, the value of Bomb Money varies depending on the fluctuations in the value of Bitcoin. The proprietary protocol of Bomb Money conducts the creation and removal of BOMB tokens.
Binance extends the benefit of faster transaction speed to Bomb Money, enabling it to process 100 transactions every second against five transactions every second on Bitcoin. Users of BOMB tokens get an opportunity to further increase their holdings by utilizing the auto-compounding vaults. These are similar to traditional staking platforms, allowing users to earn more tokens by staking.
Bomb Money Could Peg With Desired Bitcoin
If recent signs are to be believed, then there is a strong chance that Bomb Money could soon peg with the desired Bitcoin Value. Financials for Bomb Money do paint an impressive image.
The number of users and transactions has gone up in recent days, and this has pushed the Total Value Locked to $10 million, later extending by an additional $5 million in the next 48 hours. In terms of growth, Bomb Money has numbered the growth rate of 700% in 1 week.
Bomb Money is also expected to peg with the desired value of Bitcoin, as it currently stands at $0.0967 BTC.
Bomb Money shared insights on maintaining the peg as its key priority in a Medium article. The team believes it can attract more investors and partnerships at the current pegged value. The article added that Bomb Money had provided great places for users to park their reward BOMB.
Commitment for Bomb Money is to generate higher returns for the investors. It acts responsibly to protect its interests irrespective of what the outcome is.
Source: https://www.cryptonewsz.com/bomb-money-will-peg-with-btc-after-the-recent-growth-on-the-bnb-chain/