What is Wombat Exchange? Wombat Exchange is an AMM for trading stablecoins on the market built and developed on BNB Chain. New technologies help Wombat Exchange become user-friendly with extremely low price slippage.
So let’s find out what makes Wombat Exchange special 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 Wombat Exchange?
Wombat Exchange is a specialized AMM for trading stablecoin and peer-to-peer assets, and the project allows users to provide single-sided liquidity with extremely high slippage rates. short.
Wombat Exchange introduces a StableSwap 2.0 model with a number of features such as low slippage rates, besides liquidity providers can earn abundant and sustainable profits thanks to the single-sided staking strategy.
The Wombat Difference Exchange
- Scalable Equilibrium: Wombat Exchange applies a new coverage-ratio-based mechanism that helps eliminate impermanent loss 100% for liquidity providers.
- Slippage Minimization: Wombat Exchange applies an asset-to-liability model to minimize price slippage when users participate in transactions on the platform.
- UI/UX is extremely user-friendly.
- LP Token can continue to be built and developed on other DeFi platforms on the BNB Chain ecosystem such as Lending & Borrowing, Yield Farming, Staking,…
How Wombat Exchange Works
For users, they can trade many different types of stablecoins such as BUSD, DAI, FRAX, USDC, USDT, HAY,… at Main Pool or Side Pool.
Additionally, users can trade BNB-pegged assets such as Stader Labs’ BNBx, pStake’s stkBNB, and Ankr Finance’s aBNBc.
For liquidity providers, you can choose to provide liquidity for 1 asset instead of 1 pair so you don’t have to worry about impermanent loss when participating in farming.
Development Roadmap
In Q4/2022, Wombat Exchange plans to deploy the veWOM and Factory Pool model. In addition, the project will deploy connections and partnerships with many partners to expand its ecosystem.
Next Q1/2023, Wombat Exchange will begin to develop in a multichain and cross-chain direction.
Core Team
Wombat Exchange’s development team are extremely excellent and talented people in their field including:
Founder: Alex Lee
Alex used to work as a Blockchain Engineer with a lot of experience with Crypto projects and investment portfolio management.
CTO (Chief Technology Officer): Daniel Chan
Daniel is a Blockchain Engineer who joined the Crypto market very early. Daniel has a background in DeFi, traditional banking, and social enterprise.
CMO (Marketing Director): Ray Wong
Ray is a marketing expert with projects in the Crypto market. Have experience in building projects from the startup period until the project goes into stable operation.
Advisor: Mr. DuckBill
DuckBill is the founder of the Platypus project on the Avalanche ecosystem which is also a StableSwap. DuckBill is someone who joined the Crypto market very early and has experience in building tokenomic models for Crypto projects.
Advisor: 0xJun
0xJun has a PhD in Computer Science from Cornell University and also has experience in proofs and cryptography.
Investor
- November 1, 2021: Binance Labs makes a strategic investment in the Wombat Exchange project.
- March 16, 2022: In the Series A round, Wombat Exchange successfully raised $5.3M at a valuation of $64.8M led by Animoca Brands and Hailstone Ventures, with participation from Shima Capital, GSR, Lunar Station, TPS Capital, Zokyo,…
- April 19, 2022: Wombat Exchange successfully raises for an undisclosed amount and valuation with Shima Capital leading, along with Wormhole Capital and Jump Capital.
Tokenomics
Information about Wombat Exchange tokens
- Token name: Wombat Exchange
- Code: WOM
- Blockchain: BNB Chain
- Token classification: BEP 20
- Contract: 0xad6742a35fb341a9cc6ad674738dd8da98b94fb1
- Total supply: 1,000,000,000
Token Allocation
- Team: 20%
- Marketing: 0.1%
- Treasury: 26%
- Private Sale: 7.5%
- Strategic Sale: 3%
- PCS IFO: 2.8%
- Syrup Pools: 0.6%
- Binance Seed: 5%
- Binance Partnership: 15%
- Liquidity Incentive: 20%
Token Release
Private Sale and Stragetic Sale will both lock tokens for 3 months and be paid in installments within 24 months.
Binance Seed, Binance Partnership and Team are locked for 6 months and will pay in installments within 60 months.
Token Use Case
- Governance: WOM token holders can participate in voting on project decisions.
- Liquidity Incentive: Users can earn more WOM by providing liquidity to pools on Wombat Exchange.
- Boosting: Users can lock WOM to receive veWOM and have the right to vote on which pool will receive the most WOM incentives.
Exchanges
Currently, users can buy and sell WOM on the PancakeSwap exchange.
Wombat Exchange Information Channel
- Twitter: https://twitter.com/WombatExchange
- Website:
Summary
Wombat Exchange is an extremely important piece of the BNB Chain ecosystem similar to Curve Finance with Ethereum. However, this battle will become stronger if major stablecoins such as Tether and Circle are officially deployed on this ecosystem.