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Description: Home for algorithmic token ALT pegged 1:1 with TOMB on Fantom Opera network. Being strong believers of Tomb Finance and inspiration by the TOMB Seigniorage system, Alternates Finance would like to support the rapidly growing TOMB protocol by bringing new use cases to the TOMB. By pegging ALT to TOMB, we aim to provide an alternative to TOMB's liquidity on the Fantom Opera network. Naturally, pegging ALT to TOMB exposing us to its success.
The original Alternates Finance (so-called ALT 1.0) is underpeg and soon will be stop printing. There are several ways that we could bring it back to peg for the healthy of protocol, yet buy-backs is the last resort to do so. Instead of spending the limited treasury fund for limited effects, we decided to leverage on it and bring the ALT to the new Alternates Finance -- ALT 2.0, with new algorithmic token ALT2 which peg.
The Difference with the Original Alternates Finance
ALT-TOMB ⇒ ALT2-FTM Alternates 2.0 will move away from pegging to TOMB.
We respect the originator Tomb.Finance and ALT1.0 chose to peg to TOMB. However, the original Alternates require purchase of TOMB which increase the barrier for newcomer to join the protocol.In order to ease the entry barrier, ALT2.0 will thus back to pegging of FTM instead.
ASHARE-ALT ⇒ ASHARE2-FTM Alternates 2.0 will peg the ASHARE2 LP with FTM.
The original Alternates had this innovation in order to create the utility of ALT token. However, the noticed this innovation LP was abused. Dumpers sold ASHARE and get ALT, and sold ALT to get TOMB to exit the protocol. This results in single-sided sell pressure on ALT and not healthy for the protocol. In order to avoid cumulative single-sided selling pressure on just ALT, ALT2.0 will be ASHARE2-FTM instead.
Fair-Launch Fair-Liquidity ⇒ Fair-Launch Stealth-Initial-Liquidity Alternates 2.0 will move away from providing Fair-Liquidity for a complete Fair-Launch.
The original Alternates intended to create a fair environment for everyone to participate, including gaining rewards from the largest rewarding genesis pool ALT-TOMB. The unprecedented Stabilizing act that brought ALT price back to reasonable range for a fair-launch participation opportunity was abused by Whales. The act indeed helped most participants in getting the ALT-TOMB LP at reasonable cost and gaining high rewards from ALT-TOMB genesis rewards (>120% daily APR by end of genesis). However, eventually Whales rides on this for their exit, resulting in Genesis Whale Dump, causing ALT price dipped and eventually under-pegged. In order to avoid such situation, ALT2.0 will be in Fair-Launch Stealth-Initial-Liquidity model.
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