Description: The $HAM algorithmic token serves as the backbone of a rapidly growing ecosystem aimed towards bringing liquidity and new use cases to Fantom Network. The protocol's underlying mechanism dynamically adjusts $HAM's supply, pushing its price up or down relative to the price of $FTM. Hamster Money is a multi-token protocol which consists of the following three tokens: Ham ($HAM), Ham Shares ($HSHARE), Ham Bonds ($HBOND).
What differentiates $HAM from other algorithmic tokens?
Unlike previous algorithmic tokens, $HAM is not pegged to a stable coin— it is instead pegged to $FTM. Hamster Money believes in the potential of Fantom Network, and has chosen to align its mission to both provide value to and derive value from $FTM's future growth. In addition to existing and future use cases, $HAM aims to become the main medium of exchange on Fantom: this will be achieved by providing a mirrored, liquid asset to $FTM.
Why Hamster Money?
Why have a token that’s pegged to the price of $FTM when you could just use $FTM itself instead? Good question. But before we dive into what $FTM could mean for you as an investor, let’s break down the potential impact of $FTM’s long-term success on the Fantom Network ecosystem as a whole. For Fantom Network to continue running as the fast, secure, and cost-effective blockchain we all know and love, its validator nodes will continue to rely on its $FTM token remaining staked and locked up. $FTM is distributed as a reward to validator nodes, which will continue to increase in number to sustain the network's growth, whereas the $FTM token itself has a fixed maximum supply. So if $FTM is intended to be ideal for sending and receiving payments as a decentralized alternative to stablecoins, what will happen when there just isn’t enough Fantom-native $FTM to go around? If $HAM succeeds in holding the peg, this will create a mirrored, liquid asset that can be moved around and traded without restrictions, all while benefiting from the price appreciation of the native $FTM token. Reaching the peg and holding the peg is crucial, and this will ultimately be what drives the value of $HAM for investors. In the short term, this would mean attractive APRs for liquidity providers on what would essentially be a stable pair.
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