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October 15, 2022

Wombex.finance announced as a next IFO at PancakeSwap

Saturday, 15 Oct, Singapore

The BNB Chain rapidly expands with brand new projects raising funds at PancakeSwap – Binance ecosystem leading DEX & launch pool. Recently, the PancakeSwap team published a proposal to launch a new IFO (Initial Farm Offering) campaign for Wombex.Finance. This proposal got approved, officially confirming the IFO date & terms for the PancakeSwap community.

Wombex is a yield aggregation and veToken accumulation platform built on top of Wombat, whitelisted by the Wombat Exchange team. 

Wombat is leading StableSwap DEX in the BNB ecosystem, previously successfully launched via the PancakeSwap IFO platform.

Wombex mission and use cases

Wombex is developed on top of the Wombat veToken model to open a next chapter for yield generation in the BNB chain ecosystem. Wombex’s mission is to combine the power of  liquidity providers and WOM token holders, supercharging each other and accelerating long-term Wombat growth.

The platform accumulates veWOM (vote-escrow staked Wombat native token, WOM) to provide maximal possible yield boost for Liquidity Providers and establish an efficient governance market across WOM ecosystem by offering accumulated governance power to the bribe market. Main use cases include:

  • For LPs: receive max yield from deposits into Wombat using locked veWOM for rewards boosting.

    Note: at the moment median APY for stablecoins on Wombat is around ~12% which is much higher than available yields in other chains like Ethereum. With Wombex it will be even higher based on the max boost provided by veWOM position.
  • For WOM token holders: generate additional income from owning WOM as a liquid wmxWOM derivative of veWOM

The platform is governed by WMX, Wombex native token. Being vote-locked for 16 weeks, WMX provides utility to influence Wombat governance and sell governance power at the bribe market, receive protocol fees, and govern Wombex.

Wombex aims to attract as many $WOM tokens from the community and announced two major events focused on WOM acquisition & rewarding community with WMX tokens:

  1. WMX Airdrop
  2. WOM Bootstrap event

Join Twitter, Discord, and Telegram  to stay tuned and not miss the announcements!

About Wombex.finance project

Wombex is a yield aggregation and veToken accumulation platform built on top of Wombat, whitelisted by the Wombat Exchange team. It’s a fork of Convex with additional development and improvements to the original models, such as:

  • Dynamic token emission mechanism
  • Simplified user experience via transaction bundling solution
  • Customisation for current and future planned Wombat architecture

For WOM holders, Wombex offers the opportunity to earn more on their WOM by staking WOM into wmxWOM (Wombex-owned veWOM). For Liquidity providers Wombex provides a streamlined pathway to maximal yield in Wombat.

Project socials: Twitter, Discord, Telegram.

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Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Serial crypto entrepreneur, VC fund partner, and CEO of the Metaverse Post.

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Danil Myakin
Danil Myakin

Serial crypto entrepreneur, VC fund partner, and CEO of the Metaverse Post.

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