Add Collateral fBOMB Market on Base

New Markets
1

Summary

We would like to propose on addition of a fBOMB market to Compound on Base.

Token Asset Name

fBOMB (Fantom Bomb)

Description of the project and the token

MCLB DAO is an investment and governance-driven DAO focused on accumulating governance power across decentralized finance (DeFi). By enabling $fBOMB as collateral, MCLB DAO aims to drive more utility for its ecosystem and enhance participation in the broader DeFi community.

$fBOMB is a deflationary multi-chain token backed by the MCLB Treasury that empowers governance and facilitates the creation of multiple DeFi flywheels. It has been designed with unique features:

  • Deflationary Mechanism: Reduces token supply over time, creating scarcity.
  • ‘Risk-Free’ Yields: Provides non-dilutive, continuous farming rewards to investors.

Notably, $fBOMB boasts the highest liquidity-to-market-cap ratio among tokens in the market, with over $40 million in liquidity across multiple chains despite a modest market capitalization of $29.2 million.

The DAO is also the largest veAERO and veVELO holders.

Oracle Price Feed: RedStone

Motivation

The inclusion of $fBOMB as collateral on Compound aligns with the DAO’s vision of fostering broader adoption and liquidity for fBOMB. This proposal seeks to:

  • Increase Utility - Enable users to leverage $fBOMB to access liquidity without selling, thus promoting long-term holding and reducing sell pressure.
  • Support Compound Ecosystem - By integrating $fBOMB, Compound would attract a new cohort of users from the MCLB DAO ecosystem and broader fBOMB community, driving increased activity and fees on the platform.
  • Strengthen Governance Goals - Listing $fBOMB on Compound helps MCLB DAO achieve its mission of accruing governance power on COMP and increasing asset interoperability across DeFi.

Important Links

Next Steps

We invite the community to give their feedback and recommendations for the asset.

3 Likes
2

been following fbomb for awhile, good folks

People may not like the 1% transfer tax though, a considerationn