What Is Bomb US Money(BUSM)? Complete Guide & Review About Bomb US Money

What Is Bomb US Money(BUSM)?

Bomb US Money is a lending platform that uses xBOMB, an interest-bearing token, as collateral to borrow the USD pegged stablecoin – BUSM. This is deployed on Binance Smart Chain (BNB Chain). The stablecoin takes its origin from Bomb Money project, founded by Aaron Shames.

Important Points Table Of Bomb US Money

How to Buy the Continental & Trade On Exchange?

BUSM Price Live Data

The live Bomb US Money price today is $0.642290 USD with a 24-hour trading volume of $32,785.88 USD. They update the BUSM to USD price in real-time. Bomb US Money is down 3.12% in the last 24 hours. The current CoinMarketCap ranking is #4725, with a live market cap of not available. The circulating supply is not available and a max. supply of 1,600,000 BUSM coins.

If you would like to know where to buy Bomb US Money at the current rate, the top cryptocurrency exchange for trading in Bomb US Money stock is currently PancakeSwap (V2). You can find others listed on crypto exchanges page.

Across the top, you will see:

COMPONENT –These are the components you can use as collateral to borrow BUSMs.

Total Value Locked (TVL) -This shows the total value of the components that are deposited in each market by all users.

LEFT TO BORROW -This shows how many BUSMs are still available to be borrowed using that component. Once this number goes to 0, no leverage position or new loans can be opened. In order to borrow more BUSM users need to wait for the replenishing of that particular market!

INTEREST -This is the annualized percentage of which your debt will grow each year.

LIQUIDATION FEE –This is the discount a liquidator will get when liquidating a position that has been flagged for liquidation.

Liquidations

In bomb.money, every BUSM is backed by xBOMB. Unlike most protocols where all user’s collateral is at risk of a liquidation event, here in busm.money, each Collateralized Debt Position (CDP) is isolated and only at risk of its own individual liquidation. That being said, there are still times when a user’s xBOMB value will decrease and be flagged for liquidation. In this event, 3rd party players (usually bots) can choose to repay all of the BUSM debt in exchange for the xBOMB collateral used.

The Liquidation Fee

xBOMB has a liquidation fee of 11%.Liquidation Fee Sharing – This fee is the incentive given to the parties performing liquidations. From a user perspective, this fee is already considered in the calculations when quoting a Liquidation price for xBOMB. When a users liquidation price is reached they are liquidated.

The Liquidation Price

The liquidation price is the price of your collateral at which you will be liquidated. If your collateral value decreases to a point where the liquidation price matches the price of the token that is used as collateral, your position will be flagged for liquidation. The contract will not allow liquidators to perform liquidation above the liquidation price, meaning that the user’s collateral is safe up until the stated total liquidation price.

Special Features

There are a few important points of note regarding liquidations that should be highlighted very clearly. These points set busm.money apart and can determine whether users will be liquidated.

THEY ARE:

• Busm.money uses xBOMB as the token is designed to increase in value over time, regardless of price action.
• The price action of xBOMB can be quite volatile. To reduce this risk, we decided to limit the Maximum Collateral Ratio (MCR) to 75%.
• Although any person can perform a liquidation, it has become standard that these functions are performed by bots. Because of this, there is no need for a UI on the main site for this function.