Here’s All You Should Know About Snowtomb Token

Snowtomb token operates as a support for the Avalanche network by bringing more liquidity and aiming for further growth. The protocol’s underlying mechanism dynamically adjusts $STOMB’s supply, pushing its price up or down relative to the price of $AVAX.

The $STOMB protocol can be broken down into three primary components: the reward pool, fee pool, and miners. These components work together to secure the network, verify transactions and generate blocks. $STOMB tokens are required to submit transactions to the Avalanche blockchain and to purchase $AVAX from miners who have successfully mined new blocks.

When a Snowtomb token is sent from one address to another, the following happens: The sender’s AVX balance decreases by 0.1 AVX (this can be adjusted); the receiver’s STOMB balance increases by 0.1 STOMB (this can be adjusted); the sender’s STOMB balance decreases by 0.1 STOMB (this can be adjusted). Users should note that the receiver’s STOMB balance increase is greater than the sender’s AVX decrease. This is to incentivize people to spend their STOMBs instead of holding them.