We have done everything possible to eliminate potential risks to keep your staked Bitcoin as safe as possible!

Security Measures

  • Secure login with multi factor authentication, powered by Auth0.
  • Bitcoin transactions are directly deposited to secure wallets. Hot wallets are only involved temporarily to move Bitcoin from BTC Mainnet to our Binance Smart Chain DeFi project, bitBOMB, once a day.
  • Withdrawals require human approval.

Yield Farms

We are able to offer such high yields on your Bitcoin deposits due to our unique DeFi protocol bitBOMB. BOMB is an algorithmic stablecoin which is pegged to the price of Bitcoin.  Our primary yield earning farm is a liquidity pool farm for the tokens bitBTC and BTCB (BTC Wrapped on BSC).

Our bomb.money protocol has been audited by two firms.  The base code has been battle tested with over a billion dollars locked between the different protocols all using the same core base code.

 

Investment Risks

As with any investment, there are potential risks involved which could cause a loss in the investment. Some of these risks include:

  • Bitcoin price dropping - Our ybBTC (Yield Bomb BTC) is designed to follow the price of Bitcoin, so any drop in the price of Bitcoin will directly effect your investment.
  • BOMB price dropping - ybBTC consists of 50% BTC and 50% bitBTC (bitBOMB.io token). bitBTC has been designed to follow the price of BTC very closely, which greatly reduces this risk. However, there is still a possibility for the price of bitBTC to vary greatly from the price of BTC.

Impermanent Loss

To learn all about impermanent loss, please refer to this very informative Binance article: https://academy.binance.com/en/articles/impermanent-loss-explained

 

ybBTC is a representation of a liquidity pool token which utilizes a yield farm on the bitBOMB.io protocol.  Whilst impermanent loss is something that should be considered with most liquidity pair positions, it is not as relevant in the case of ybBTC.  This is due to bitBTC being pegged to the price of Bitcoin algorithmically.  

 

What does this mean? The only way for the ratio between Bitcoin and BOMB can change is trades occurring against bitBTC. However, due to the nature of the bitBOMB.io protocol, there are many ways to keep the price of bitBTC as close to BTC as possible.

 

Can my information get hacked or stolen?

Here at bombbtc.com we believe that privacy is paramount! This is why we partnered with the best in the privacy business, Auth0, to keep your data safely stored and away from prying eyes! For more information regarding our privacy policy, please click here!