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The main utility function of WMX token is participation in Wombex governance/Wombat meta-governance and associated rewards distribution. For enabling WMX utility is should be vote-locked for 16 weeks (vlWMX).
vlWMX token utility:
- Participation in Wombat governance (rewards allocation to various pools) using veWOM accumulated and owned by Wombex. It could include additional payments for Gauge voting (commonly defined as 'bribes').
- Receiving a share of protocol fees (10% of overall mined WOM goes to vlWMX stakers)
- Participation in Wombex governance, what includes adding new pools, WMX liquidity mining updates, and many more