The team at Tomb Finance believed in the upside potential of $FTM and sought to provide greater collateral utility to Fantom main-net by releasing a token, $TOMB, which is algorithmically pegged to the price of $FTM.
Inspired directly by Tomb Finance $PEAK is far more than just a stable coin. $PEAK can also be used as a collateral asset for synthetic derivatives and a means to get a slice of newly launched projects from our upcoming launchpad for emerging DAO and DAC projects.
What’s more, the value of an algorithmically pegged token staked together with the token being pegged, greatly reduces risks of experiencing Impermanent (divergent) Loss.
For the most part, $TOMB has managed to maintain a stable peg to $FTM. As a result, the success of $FTM dragged the price of $TOMB up along with it.
The team at Peak Finance deeply respect the work of those at Tomb Finance and believe we have stumbled upon an ecosystem that has just as much, if not more, growth potential than Fantom.
$METIS is the native token for Andromeda. The layer-2 narrative has begun to gain traction for 2022. Scalability is still an ongoing issue and not one that will be solved in the near-term. As adoption continues, we will see more active users across blockchains all broadcasting transactions onto the network.