Wombex
WMX

0.1189
$
7.51 %
Change 24h
Market Cap
$ 1,520,845
Volume 24h
$ 197,095
Circulating Supply
12,839,984
Total Supply
50,000,000
WMX
$
# Exchange Pair Price Volume 24h

Description

Wombex is a yield aggregation and veToken accumulation protocol built on top of Wombat Exchange. The protocol operation is based on the rules of Wombat veToken model: Wombat offers base APY (offered to anyone supplying liquidity without any additional conditions) and boosted APY (depends on the user’s veWOM position) To create a veWOM position, the user needs to lock WOM for a certain amount of time (from 7 days to 4 years, longer lock-up corresponds to bigger number of veWOM received after locking) Based on the user’s veWOM position vs veWOM position of others, the boosted APY is calculated. In general terms — more WOM locked for a longer time leads to bigger veWOM position and, finally — a bigger APY for the user. Wombex’s primary purpose is to provide a WOM boost to LPs as a service and allow Liquidity Providers to earn high APY without the necessity to buy and stake WOM.