About

History

The BOMB experiment started in January 2019 with one goal: to measure the feasibility of a deflationary currency. Fast forward 6 months and BOMB now has a market cap of over $10 million USD. Little did the creators of BOMB knew they would set the entire crypto industry on a whole new course with deflationary coins being the new fad.

Deflationary currency explained

The main difference between regular cryptocurrencies and deflationary ones is that a deflationary currency is always shrinking in size. Every time you transfer your coins either to or from an exchange or between wallets, you are burning a tiny bit of the total supply. This is usually a minimum of 1 coin per transaction or 1% of the transferred amount.

Since nothing is burned when you simply HODL, many people argue that such an asset is perfect for long term store of value. Sort of like Bitcoin, but potentially a hundred times more valuable because Bitcoin, while relatively rare among other coins, will never decrease its total supply when transferred. And unlike Bitcoin, when a whale decides to dump their deflationary coins, all they end up doing is make the coin even more scarce. Therefore in the long term a deflationary currency should always gain value.

Bitcoin vs Deflationary currency

On the other hand some people think that such an asset will eventually be rendered useless as there will come a time where the price of a coin is too high for anyone to want to initiate a transfer. Because when you think about it, burning tokens per every transaction can be considered a "transaction fee" and for a deflationary cryptocurrency this is almost always increasing.

Realistically there must be a certain price limit where buyers stop buying and sellers don't want to risk burning their own coins. What would happen then? That's what we are trying to find out!

About

Where BOMB went wrong

The trouble with our predecessors lie in the way tokens are created and handled. If you look at their source code you'll notice that immediately upon deployment the smart contract mints (creates new tokens) all of the total supply to the creators' address. From there you can trace transactions to multiple smaller wallets, but that's all they are- just regular wallets with private keys still in the hands of the owners.

Tokens are then eventually airdropped to participants from a massive wallet that the owners themselves control. They claim to have sent them away to "colder than cold" storage, but the only way this was possible would be if these wallets were smart contracts with a timelock mechanism built into them that would release tokens only after a certain period of time. Unfortunately this is not the case with any of our predecessors and sooner or later they will be forced to dump their tokens on the market.

Think about it. If you owned 100k of a token that was suddenly worth 10-100 million, wouldn't YOU dump it on the market? There will always be a certain price limit where plain and simple greed kicks in and all you see are lambos. It's just human nature and that is why we believe humans should not have access to the total supply in the first place!

And if you somehow believe that the owners are not like that, if you believe they are honest and good people, what about the fact that their market share is constantly increasing now that the total supply is shrinking every single day? Sooner or later, even if they didn't care about lambos, they would be forced to sell parts of their holdings just to remain with a small enough market share that investors would still take them seriously. Otherwise the whole project would crumble.

YAB token has no reserved admin funds

While our predecessors may have had only the best intentions in mind, you can't help but wonder when they'll decide to drop their bags on the little guy. But what if we had an asset with no whales? What if said asset would be spread out more evenly to a lot more people?

It is our goal to continue the social experiment that BOMB started with a more open and democratic approach. That's why we don't reserve anything to ourselves and instead airdrop 100% of the total supply to the people.

In fact our smart contract doesn't allow us to have access to the total supply in the first place. You are the only one responsible for creating new tokens to yourself. The airdrop is essentially an agreement between you and the smart contract :)

And to make the experiment even more fun, we will not punish you for spreading rumors or blatant fud because this type of human behavior is a part of what this experiment is trying to study.

Power to the people

Join us

Be a part of our epic journey in understanding human behavior

Drop us a line in our official Discord and register for the free airdrop.

We are open to everyone and consider each and every suggestion. Unlike our predecessors we don't censor you for fud or tricky questions.