Stephanie (BSC.News)
Hi everyone and welcome to the AMA with Wombat Exchange! Today we have @rienotrry to talk about her exciting new project. Nice that you’re here π
CherieM
Hey everyone!
Stephanie (BSC.News)
Warm welcome!
In order! Without further ado, we’ll jump right into the questions. Sounds good to you?
CherieM
That would be AMAZING π
Stephanie (BSC.News)
Great, so to kick things off, for those who might not be in the know…
β
1. Please introduce yourself and the team behind Wombat Exchange.
β
CherieM
Hello everybody! This is Cherie, the marketing manager for Wombat Exchange.
I myself have years of marketing experience and our team has a strong background and passion for both traditional finance and crypto projects! π₯
Alex, the founder of Wombat, was previously a quant trader and blockchain engineer.
Daniel, our CTO, was an ETH ICO investor and a great software developer.
Raymond our CMO runs his own marketing company focused on crypto so the teaching and marketing side is in super good hands and we all love crypto and want it to grow π«Ά
Stephanie (BSC.News)
Great! Sounds like you have a great team, so let’s talk about the project itself
CherieM
I’m not trying to brag, but our team is made up of some of the smartest people I’ve ever known π
β
2. What is Wombat Exchange and what is your team’s vision and mission?
β
CherieM
Secure!
Wombat Exchange is the next generation multi-chain stableswap native to BNB Chain.
Its groundbreaking Stableswap 2.0 model allows users to trade stablecoins with the best exchange rates and minimal slippage, using only one currency for a tasty and sustainable return.
Existing StableSwaps have problems like fragmented liquidity, not scalable, complicated user interface etc. and we believe we can offer better!
The uniqueness of Wombat is the design and special algorithm that only exists in Wombat and BNB chain.
We have simplified the deposit/withdrawal/swap procedure so that anyone and everyone can use and easily understand it.
With a more intuitive staking process, users can easily understand and become liquidity providers to easily earn returns. This is important because for DeFi to grow strong you need things that the masses can easily use and that is one of the best things Wombat can fix and solve!
Hey, before we move on to the next question…
I want to share a video for you guys to understand us better in just 1 minute:
Stephanie (BSC.News)
Cool! I will give our community 2 minutes to watch this clip
β
Ok wow thanks for all this information! Let’s unpack a little as there was a lot I wanted to address. So let’s talk about your token first
β
3. Can you tell us more about $WOM and $veWOM tokens?
a. Utilities
b. tokenomics
β
CherieM
$WOM is our governance token with 3 main use cases:
(1) Governance β WOM owners can participate and vote on governance decisions of Wombat and projects built on us;
(2) Liquidity Incentives β Users can earn WOM as a reward by providing liquidity with stablecoins to the liquidity pool;
(3) Boosting – Users can earn additional $WOM from the Boosting pool by locking $WOM tokens. By locking WOM you get veWOM – a yield booster that applies a boost to all stablecoin pools!
It’s worth noting that a veWOM holder not only increases returns, but until we set up our governance voting system, token bribes and therefore a better APR for users!
As we build an incubation lab to support projects that build upon us, those projects and their tokens will be placed in Wombat’s treasury for future airdrops with all $WOM stakers, aka $veWOM holders will. πͺ
Regarding our tokenomics, we are proud that our private investor support is locked in for 2 years, with the initial unlock going down from 5% to 2.5%.
Our top supporter Binance captures 5% of the total supply and has a 0% initial lockup obligation and vests for 5 years.
They are famous for being diamond hands and that just goes to show how much value they see in us. π
β
Our team tokens also vest for 5 years with 0% initial activation as one of the longest vesting periods out there shows our determination to stick around for the long haul. πͺ
Stephanie (BSC.News)
Thanks for the clarification!
β
4. How to earn $WOM?
β
CherieM
As our token launch is on August 30th, 2022, our WOM syrup pool will also go live on PancakeSwap shortly after the end of IFO, where you can stake CAKES to earn WOM!
Details are shown below:
Total tokens: 6,000,000 WOM
Duration of distribution: 60 days
Start time: Shortly after the end of the IFO
End time: Approx. 60 days after the start of the syrup pool
Token rewards per block: 3.4722 WOM
max. stake per wallet: 100 CAKE for the first 5 days, then unlimited CAKE staking
We’re excited to announce that our full launch will be going live at the September 5, 2022until then, you can earn $WOM by betting stablecoins on Wombat with only one type of token (USDT, USDC, DAI or BUSD)π₯
Get ready!
Stephanie (BSC.News)
Well maintained! And remember 5 SEPTEMBER for Wombat Exchange Full Lunch Live, Community π
So, to learn more about the ecosystem with the $WOM token
β
5. Please let us know the advantages and benefits of using wombat exchange. How do you create incentives for long-term investors?
β
CherieM
In short, Wombat’s design and algorithm enables stablecoin exchanges with minimal slippage and the ability to generate a healthy, sustainable yield from just ONE stablecoin currency.
As we aim to be the largest stableswap in the BNB chain, our swap fees will be paid back to liquidity providers shortly.
With the start of our side basin and liquid staking pool, swap fees will be higher to maintain the protocol; Note that even with higher swap fees, the efficiency of our algorithm results in better rates than our competitors.
These higher fees are paid back to our liquidity providers, so both users who swap and users who become liquidity providers can enjoy the best of both worlds β the best slippage and great APY’s! π€
As we mentioned earlier that Wombat will build our own incubation lab, the incubators’ tokens will be put into Wombat’s treasury and shared with WOM stakers in the future.
Because we hold these tokens and give them back to our users, we are able to maintain a healthy APY regardless of any market! π€©
Stephanie (BSC.News)
Awesome, thanks! Look forward to a lot
CherieM
Damn true. Follow us on Twitter to not miss anything π
Stephanie (BSC.News)
Definitive!
β
6. How does Wombat Exchange minimize slippage?
β
CherieM
It’s complicated in math, but I can give you a quick overview π
In summary, Wombat’s implementation of the traditional financial concept – coverage ratio – into our algorithm allows us to maintain a universal state of equilibrium across all our liquidity pools and is therefore much more slippery than other stableswaps.
By integrating the coverage ratio into our CSMM and invariant, Wombat’s slippage improvement can reach up to 40% compared to our competitors in the market.
Here’s a chart showing our slippage comparison
Slippage is neglected up to higher transaction amounts and reduced when it occurs.
We have covered the topic in full on our medium, feel free to read it at !
Stephanie (BSC.News)
Thank you for sharing the link! So there are many nice features of Wombat Exchange, but mostly
β
7. Is your platform audited or does it have a different layer of security? How can you assure users that your platform is safe to use?
β
CherieM
I think we can all agree that security is undoubtedly one of the main concerns of all DeFi users and there is no doubt that we feel the same way.
Regarding smart contracts and code, we successfully passed the audits of 3 reputable security auditing companies including Zokyo, Peckshield and Hacken to ensure our code is protected from bugs and hacks.
All recommendations and suggestions have been implemented to further improve the security of Wombat.
For full security reports, see our middle article:
We also partner with Immunefi, the leading Web3 bug bounty platform, to allow the general public to review and detect vulnerabilities, with the main goal of keeping the platform secure and protecting our users at all costs! πͺ
Stephanie (BSC.News)
Brilliant!
β
8. Where are you on your roadmap? What plans do you have to improve the wombat ecosystem?
β
CherieM
Surely we are in the process of operating our TGE and bringing it fully to market!
We have also worked tirelessly on an innovative sidepool and liquid staking pool design with built-in de-peg protection for the algorithmic stablecoins. (which will also be live shortly, so stay tuned!)
We are in communication with 9 innovative projects built on top of Wombat including convex forks, fixed income products, yield aggregators, etc. These partnerships will be beneficial to both the log and the users, so stay tuned for the announcements!
After our full launch, our main focus will be on establishing our governance model and voting system for proposals, as well as fulfilling our multi-chain roadmap by the end of the year!
For target milestones we aim to be the best stableswap on the BNB chain and soon to be one of the top protocols owning the most TVL! π
Stephanie (BSC.News)
Great, last but not least
β
9. Is there any exciting news you would like to share here today?
β
CherieM
We’re excited to announce that $WOM IFO is around the corner!
It will take place on August 30, 2022 at 12pm UTC on οΌ PancakeSwap and everyone is welcome to participate π
Read more details and follow the tutorial to join our IFO:
We just announced that our full launch will be live on September 5th, 2022, so make sure to read the announcement carefully too!
Stephanie (BSC.News)
It’s definitely exciting stuff! Could you provide us social media links for our community to follow?
CherieM
For sure! Follow us on our social media and community channels:
Website:
Application:
Middle:
Twitter:
Telegram:
Discord:
We look forward to chatting with you in our community group!
Stephanie (BSC.News)
Big! Make sure you visit Wombat Exchange! Their platform gives you access to the best projects on BSC while rewarding you for using their innovative ecosystem!
β
Learn Crypto Trading, Yield Farms, Income strategies and more at CrytoAnswers
https://nov.link/cryptoanswers
Comments are closed.