Wombex Finance — a protocol for aggregating returns and veToken accumulation on Wombat. It aims to accumulate as much veWOM as possible in order to ensure the best return on LP.
What is special about Wombex Finance?
For WOM holders, Wombex offers the opportunity to earn more from your WOM by hosting your WOM on wmxWOM. Liquidity providers earn additional WOM rewards through Wombex-owned veWOM, maximizing their stablecoin income and WOM earning an additional $WMX.
WMX token holders participate in the unification of Wombat governance by voting, using the protocol-owned veWOM. Token holders vote on the proposals of Wombat and Wombex, receiving as a reward the share of WOM, mined by Wombex LP.
By depositing WOM into wmxWOM, WOM holders receive a derivative liquid rate, wmxWOM, and earn a share of future mined WOM, additional WMX rewards, and all Wombat rewards and returns, offered to veWOM holders. Thus, WOM holders who own WOM under a Wombex contract receive more APY on top of their assets than regular veWOM holders.
wmxWOM token
wmxWOM — a Wombex veWOM derivative token with liquid staking, provided at a 1:1 ratio for each deposited veWOM. Users who contribute WOM to veWOM via Wombex receive liquid wmxWOM instead of non-transferable veWOM. All veWOM, accumulated by Wombex, are locked in Wombat and used to increase LP rewards and participate in the management of Wombat.
There are two ways to get rewarded for owning wmxWOM:
| 1. | One-way staking wmxWOM in LP mining contract and receive WMX reward and protocol fee share. |
| 2. | Deposit liquidity to the wmxWOM/WOM trading pair on Wombat, stake an LP token in an LP mining contract, and earn WMX rewards for providing liquidity. |
Deposit liquidity to the wmxWOM/WOM trading pair on Wombat, stake an LP token in an LP mining contract, and earn WMX rewards for providing liquidity.
Using the veWOM token
Participation in the management of Wombat (distribution of rewards among various pools), using veWOM, accumulated and owned by Wombex. This may include additional payments for Gauge voting (commonly defined as "bribes"). Receive a share of the protocol fees (10% of the total mined WOM goes to vlWMX stakers) Participate in Wombex governance, including adding new pools, WMX liquidity mining updates, and more.
Fees are for WOM mining and third party token promotions and are not charged from other revenue streams such as veWOM administration fees or any giveaways to veWOM holders.
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