Wombex

Yield Farming

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Description

Wombex is a yield aggregation and veToken accumulation protocol built atop Wombat Exchange. It leverages the Wombat veToken model to provide liquidity providers (LPs) with a base APY and an additional boosted APY that depends on the user's veWOM position. To earn boosted APY, users need to lock WOM for durations ranging from 7 days to 4 years, with longer lock periods resulting in higher veWOM and higher APY. Wombex's key feature is to offer high APY for LPs without requiring them to buy and stake WOM directly, thus simplifying the process and maximizing their yield potential.

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FAQ

What is the primary purpose of Wombex?

Wombex is designed to serve as a yield aggregation and veToken accumulation protocol, primarily focusing on providing a WOM boost to liquidity providers (LPs). Built on top of Wombat Exchange, it enables LPs to earn a higher APY without needing to buy and stake WOM directly. This is achieved by leveraging the Wombat veToken model, allowing users to maximize yield opportunities through a system of base and boosted APY.

How does Wombex determine boosted APY for users?

Boosted APY on Wombex is determined by a user's veWOM position, which is created by locking WOM for varying durations ranging from 7 days to 4 years. The amount and duration of locked WOM help establish the veWOM position, with a longer lock-up resulting in a higher veWOM position. The user's boosted APY is calculated in relation to their veWOM position compared to others, with more WOM locked over longer periods leading to increased APY.

What are the benefits of using Wombex compared to directly staking WOM?

Wombex enhances user experience by allowing liquidity providers to earn high APY without the need to directly buy and stake WOM. By utilizing the veToken model on Wombat Exchange, Wombex enables LPs to enjoy boosted returns through its tailored system that calculates APY based on veWOM positions. This structure provides flexibility, reduces the necessity for large upfront investments in WOM, and simplifies the process of maximizing yield.

Which ecosystems does Wombex operate within?

Wombex functions within multiple blockchain ecosystems, specifically the Arbitrum and HECO ecosystems. This broadens its usability and appeal, allowing users within these networks to participate in its yield farming opportunities. By aligning with these ecosystems, Wombex is positioned to reach a wide array of liquidity providers seeking optimized yield solutions via the veToken model.

How can Wombex users optimize their veWOM position?

To optimize their veWOM position on Wombex, users should lock WOM tokens for the longest possible duration, up to 4 years. A longer lock-up results in a larger veWOM position, which ultimately increases the user's boosted APY. By maximizing their veWOM position, users can achieve higher returns compared to locking for shorter periods, thereby enhancing their overall yield from liquidity provision on the platform.

What role does veToken accumulation play in Wombex's strategy?

The veToken accumulation strategy is central to Wombex's operations. By accumulating veTokens, users can enhance their individual yield outcomes, as the veWOM position significantly impacts the boosted APY they receive. This mechanism incentivizes users to lock WOM for extended periods, facilitating a sustained increase in veWOM tokens, which in turn elevates their profitability and supports Wombex's goal of providing superior yield opportunities to its user base.

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