What is Wombex Finance? Wombex Finance is a Boosting Yield platform built on BNB Chain and belongs to the Wombat Exchange ecosystem. The project is supported by the construction of BNB Chain and Wombat Exchange. So what is Wombex Finance? Let’s find out in this article!
To better understand the project as well as the Wombat Exchange ecosystem, you can read some of the following articles:
What is Wombex Finance?
Wombex Finance is a Boosting Yield platform, increasing profits for liquidity providers and centralizing administrative power on Wombat Exchange. The project is supported by the construction of BNB Chain and Wombat Exchange.
Wombex combines the power of liquidity providers and WOM token holders to drive Wombat’s long-term growth. For this purpose, Wombex accumulates veWOM and at the same time aggregates LP deposits.
Mechanism of Action
3 main components on Wombex Exchange:
- For LPs: Deposit liquidity into Wombat and stake your LP tokens on Wombex to earn enhanced WOM rewards, WMX tokens, and swap fees.
- For WOM owners: Stake WOM into wmxWOM to receive WOM rewards earned by Wombat, all veWOM rewards and WMX tokens on top of that.
- For WMX owners: Ktokenize WMX to vote Wombex governance, incentivize direct liquidity using super-governance voting in Wombat, and earn protocol fees.
Wombex protocol revenue will be divided as follows:
- 5% goes to wmxWOM bettors, paid in WOM
- 10% goes to vlWMX bettors, paid in wmxWOM
- 0.1% is for callers to harvest in WOM
Main products on Wombex Finance:
1.Stake
With Stake products, it can be divided into 2 parts as follows:
- Convert WOM: Convert WOM to wmxWOM on Wombat Exchange and automatically stake. By staking wmxWOM, you are earning a 5% share of Wombex LP’s total increased earnings in WOM, bonus tokens and WMX tokens.
- Stake WOMBAT LP Tokens: By staking Wombat LP tokens you will receive enhanced WOM rewards (minus Wombex protocol fees), additional bonus token income (if applicable) and WMX rewards on top of that.
2.Lock WMX
lock up WMX on Wombex allows:
- Receive a portion of the protocol fees.
- Manage Wombat or sell management rights on the secondary market (called Bribes).
- Wombex management includes treasury, emission schedule and other parameters.
- Receive WMX distribution collected as penalty fee requests from other users.
3.Bribes Market
The Wombex protocol accumulates veWOM and Bribes Market allows vlWMX token holders to vote for the issuance of WOM tokens in the Wombat liquidity pool. Here you can vote with your vlWMX balance for different groups and receive rewards.
Bribes Market operates as follows:
- There is a list of all liquidity pools available for Vote (here the project calls Bribe or bribe) in the Wombat ecosystem.
- Anyone can add rewards for voting on any group using the “Add Bribe” function. The total number of rewards is indicated in the table.
- vlWMX holders can vote in any pool they want and split the rewards among all those who vote for this pool.
- Once the Bribe round ends, vlWMX holders can claim weighted rewards based on their stake for voting for a specific team.
So, vlWMX holders can delegate their stake after each Bribe round and receive reasonable rewards.
Development Roadmap
Updating…
Core Team
Updating…
Investors
September 1, 2022: Strategic round successfully raised $2.5M and undisclosed investors.
Tokenomics
Overview information about Wombex Token
- Token Name: Wombex
- Ticker: WMX
- Blockchain: BNB Chain
- Standard: BEP-20
- Contract: 0xa75d9ca2a0a1d547409d82e1b06618ec284a2ced
- Total supply: 52,682,358
- Maximum supply: 100,000,000
Token Allocation
- Incentives Rewards: 50.00%
- Team: 13.50%
- Liquidity Mining Rewards: 10.00%
- Strategic Round: 10.00%
- Public Sale (IFO on PancakeSwap): 4.00%
- Liquidity Provision & Marketing: 3.50%
- Treasury: 3.00%
- Community Treasury: 2.00%
- WOM Wars Bootstrap event: 2.00%
- Syrup Pool: 1.00%
- Community Airdrop: 1.00%
Token Use Case
WMX tokens are used to administer the Wombex protocol and participate in Voting to distribute rewards to liquidity pools on Wombat Exchange.
Exchanges
WMX tokens are traded on Pancakeswap.
Information Channel of
- Website: https://wombex.finance/
- Twitter: https://twitter.com/WombexFinance
- Medium: https://medium.com/@wombexfinance
- Discord:
Summary
Wombex is the most prominent project in the Wombat Exchange ecosystem. And just focus on developing products that support Wombat, the same way Convex Finance supports Curve Finance.
So I have clarified what Wombex Finance is? Hope this article provides you with a lot of useful knowledge!
