INTERNET CITY, DUBAI, October 19, 2022 – LBank Exchange, a global digital asset trading platform, listed Wombex Token (WMX) on October 19, 2022. For all LBank Exchange users, the WMX/USDT trading pair is now officially available for trading.
With its groundbreaking multichain stableswap algorithm, Wombat Exchange allows users to trade stablecoins with minimal slippage and wager with maximum yield. Wombex builds on Wombat Exchange, combining the power of liquidity providers and wombat token holders, charging each other and accelerating long-term wombat growth. Its native token, Wombex Token (WMX), was listed on the LBank Exchange on October 19, 2022 at 13:00 UTC to further expand its global reach and help it realize its vision.
Introducing Wombex
Wombat Exchange introduced an innovative algorithm that solves many problems of current AMM environment. It enables maximum capital efficiency and scalability, which helps fuel the growth of decentralized finance, and offers a price-sensitive and path-agnostic solution while maintaining computational efficiency.
Wombat’s groundbreaking multichain stableswap algorithm allows users to trade stablecoins with minimal slippage and wager with maximum returns. Its open liquidity pool design aggregates liquidity into a common pool carefully balanced by coverage ratios, providing greater capital efficiency. These liquidity pools are also flexible, allowing users to stake with a single token, facilitating liquidity growth without the need for complex maneuvers. Additionally, Wombat helps users exchange tokens and earn interest on any stablecoin currency across different blockchains through an intuitive interface. It also uses an asset-to-liability model and negates slippage up to higher transaction amounts and reduces slippage when it occurs.
As a yield aggregation and veToken accumulation protocol built on top of Wombat Exchange, Wombex is a fork of Convex with additional developments and improvements to the original models, such as and future planned Wombat architecture. It combines the power of liquidity providers and wombat native token (WOM) holders, charging each other and accelerating long-term wombat growth. For this purpose, Wombex collects veWOM and at the same time aggregates LP deposits.
For WOM owners, Wombex offers the opportunity to earn more with their WOM by using WOM in wmxWOM (Wombex’s own veWOM). Liquidity providers get a boost to WOM rewards through wmxWOM, maximizing their returns in stablecoins and earning WOM additional Wombex Token (WMX).
With a solid and experienced team developing a stableswap that has the potential to significantly fuel DeFi’s growth, Wombat will continue to provide game-changing algorithms and solutions that will shape the future of DeFi for the better, while simultaneously accelerating its growth from Wombex becomes.
About WMX Token
The main utility of the WMX Token is participation in Wombex Governance/Wombat Meta-Governance and associated reward distribution. WMX token holders participate in governance aggregation in Wombat by voting with the protocol’s native veWOM. Token holders vote on Wombat and Wombex proposals and are rewarded with a share of WOM mined from Wombex LPs.
Based on BEP-20, WMX has a total supply of 100 million (i.e. 100,000,000) tokens, of which 10% will be allocated for private sale, 4% will be allocated for PancakeSwap IFO, 1% will be allocated for Syrup Pool and 2% will be allocated for the Municipal treasury 50% is allocated for Wombat Wars rewards incentives, 10% is allocated for liquidity depletion rewards, 13.5% is allocated to team, 3.5% is used for liquidity provision, market making and marketing, 3% is allocated for Wombat -Whitelisting and WOM Treasury, 2% will be allocated for the WOM Wars Bootstrap event and the remaining 1% will be allocated for targeted airdrops for DeFi communities.
The WMX token was listed on the LBank Exchange on October 19, 2022 at 13:00 UTC. Investors interested in Wombex investment can now easily buy and sell WMX tokens on LBank Exchange. Listing the WMX token on the LBank Exchange will no doubt help further grow its business and attract more attention from the market.
learn more about WMX Token:
Official Website: https://wombex.finance/
Telegram: https://t.me/wombex
Discord: https://discord.gg/bTg6S2GjRV
Twitter: https://twitter.com/WombexFinance
Medium: https://medium.com/@wombexfinance
About LBank
LBank is one of the leading crypto exchanges founded in 2015. It offers its users specialized financial derivatives, expert wealth management services and secure crypto trading. The platform has over 7 million users from more than 210 regions around the world. LBank is a state-of-the-art, growing platform that ensures the integrity of users’ funds and aims to contribute to the global adoption of cryptocurrencies.
Start trading now: lbank.com
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