Wombat Exchange ($WOM)
Referring to Defi projects invested by Binance without Wombat, it is really a big mistake. Not only has both Binance Labs and BNB Chain, Wombat is also invested by leading funds such as Animoca Brands, Shima Capital, Silverstone. This is also Pancake's most recent IFO product, especially if you look at the project's token allocation.
➡ It's easy to see, not only investing and supporting, but Binance also holds a large part of WOM tokens, not to mention collecting more. So it's not wrong to say Wombat is a "pet" of CZ. In particular, the amount of WOM of Binance is almost not unlocked initially and unlocked evenly over 5 years, showing the long-term intention of the fund.
Wombat Exchange is a decentralized exchange that allows cross-chain stablecoin swaps with low slippage and gas fees. Wombat is built on the BNB chain and is compatible with EVM.
Wombat features a one-sided liquidity supply mechanism, which optimizes profits and reduces costs for investors by removing liquidity constraints to increase scalability. In addition to the operating model similar to Curve, Wombat specifically also implements the veToken mechanism.
Positive factors for WOM in the coming time?
hanks to the veToken and veWOM mechanism, users or projects can lock/stake WOM coins to receive rewards, and receive the right to vote to boost rewards for their own liquidity pools. Defi projects from here can offer attractive APR levels, but still have to ensure the token does not slip too much.
Similar to Curve, Wombat's veToken mechanism will also likely bring a Womwar battle. In the Defi summer of 2020, the mechanics of veCRV/Curve created a tense CurveWar that left projects scrambling for CRV. This created a large demand for CRV to increase in price. When Wombat Exchange perfects this mechanism, the same can be expected with WOM tokens.
This is completely reasonable, because there are currently 3 identified projects that will be present in WomWar: Wombex Finance, Quoll Finance and Magpie. All 3 are quality projects that have received a lot of attention recently.
21 million tokens - 55% of total supply locked in pool
Thanks to WomWar, users continuously lock $WOM on defi protocols to receive rewards and boots reward rights on Wombat Exchange. This positive factor will largely limit the token discharge. Although the minus point is that there is still an equal amount of WOM unlock every month.
How to buy WOM tokens on Holdstation Wallet
Step 1: Access the Holdstation Wallet app
After accessing the Holdstation wallet, the user selects the circled swap item as shown.
Note: Users must remember to switch to the BSC network before swapping!
Step 2: User selects the token he wants to swap to $WOM
In the search bar for the target token, the user can click to search for Wombat Exchange or enter the contract of $WOM: 0xAD6742A35fB341A9Cc6ad674738Dd8da98b94Fb1
Step 3: Confirm swap
User chooses amount of token want to swap and click "Review swap"
Step 4: Swap
User choose "Hold 1s to swap" to swap token