Wombat Exchange has assembled a close-knit and experienced team to develop a stable exchange that can greatly accelerate the growth of DeFi.
Description of the Wombat Exchange project
On the Wombat Exchange project, exchange stablecoins with minimal slippage and place bets with maximum profitability. Wombat Exchange provides a stable exchange protocol with an open liquidity pool, low slippage and a one-way rate. The team is improving capital efficiency to drive the growth and adoption of DeFi.
Main features:
| 1. | Maximize capital utilization by eliminating liquidity vaults. |
| 2. | Open liquidity pools for more efficient use of capital. |
| 3. | Allows providing liquidity with a single token instead of pools. |
| 4. | Greater user experience and removing barriers to scalability. |
| 5. | Innovative coverage ratio-based stable replacement mechanism to eliminate scalability barriers. |
Wombat's open liquidity pool pools liquidity into a pool, carefully balanced by coverage ratios, providing greater capital efficiency.
Wombat helps users to exchange tokens and earn interest for any stablecoin on various blockchains through an intuitive user interface. Wombat uses an asset-liability model and nullifies slippage before the transaction amount increases and reduces slippage when it occurs.
$ WOM token
WOM - a Wombat management token that has several uses. WOM token holders can participate and vote on governance decisions. Users can earn WOM tokens as a reward by providing stablecoin liquidity to the liquidity pool.
Users can earn additional WOM from the pool by locking WOM tokens. The bonus pool includes a voting escrow system (veWOM) for accruing rewards. Blocking any amount of WOM leads to an increase in all stablecoin pools.
Providing and withdrawing liquidity
Go to the "Pool" tab in the Wombat app. Find the pool you want to deposit to. Expand the list and click "Liquidity", you will be redirected to the deposit page. Enter the deposit amount in the field or you can also click "MAX" to deposit the entire balance of your token. After you enter the amount, the details of the transaction will be displayed.
After checking all details, click "Confirm" to allow Wombat access to the asset. Then click "Deposit" or "Deposit and bet" and confirm the transaction. A pop-up window will appear with the details of the transaction. Confirm your action in the wallet app to complete the transaction.