This article was first published on Ethos
Bomb Token is Live & the Fuse is Lit on Ethos Universal Wallet
First hitting the blockchain in 2019, BOMB is blasting a path of its own. BOMB is a social experiment and financial case study to measure the feasibility of a deflationary currency.
How does it work? The rules are simple.
- There were originally 1,000,000 BOMB in existence
- Each time a BOMB is transferred, 1% of the transaction is destroyed
- There will never be newly minted BOMB tokens.
The intention is not for the token to be used as a transactional currency, but rather a consistent and decentralized store of value. Through a system of immutable smart contracts and continuous hyperdeflation, BOMB is the world’s first self-destructing currency.
In a modern economy plagued by the shadow of hyper-inflation, it’s experiments like these which give us the opportunity to discover value in assets which inherently become rarer overtime. Thus, giving us insight to the economic mechanics of deflation, growth and social virality in a global market.
Despite over $13,000,000,000 in public capital allocated to the decentralized world in the first half of 2018 alone, over 1000 projects are now dead. While there are many reasons for this decline, we believe the Token Velocity Problem to sit at the forefront. In short, Token Velocity is the speed at which tokens circulate their native platforms and ecosystems. If this velocity is too high and speculation is held constant, assets will struggle to conserve long-term appreciation.
BOMB has a vision of becoming the deflationary currency of the decentralized world. Will BOMB Token’s mission change the ...
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