The Tomb Fork Saga : Chapter 3
The vampcoins are already among us
Yesterday morning, I wrote a short story explaining that we should get ready for vampcoins. In it, I was seriously behaving like a prophet, telling that vampcoins would thrive and spread to other blockchains …
Vampcoins are already here!
Well, when you are prophetising something, you feel like a real idiot when you discover that your 2cts prophecy … has already happened.
Yesterday evening, I came across this list of Tomb forks maintained by the hilarious WhatTheFork.xyz website. (Thank you for the laugh guys !!! I just could not stop laughing at comments about the rug pulls).
You can also follow their Twitter: https://twitter.com/TombForkWatch
So, there are already vampcoins on Polygon, Avalanche, Harmony, Binance Smart Chain, … most of which have launched this month, if not this week.
Recap: when they manage to launch without pulling the rug, these project provide insane yields. They all print blockchain native tokens out of thin air when they are over-peg (that is, when the native token goes down), and apply a sell pressure on the native token when they are under-peg (that is, when the native token goes up).
My theory is that they inflate their value by feeding on their host’s native token price moves.
I am very curious about where this will all lead us to, and I guess that now, almost every blockchain will have to think about that issue.
My next article will be on incentive divergence between LP Token stakers and TSHARE stakers, why 2OMB might have hard times to re-peg, and why this is very good news.
You can read it now: LP stakers vs Share stakers.
You can also follow me on Twitter:https://twitter.com/MetaZebre