Liquidity provision
LPs + veWOM = love
Last updated
LPs + veWOM = love
Last updated
Important notice: other pools not described in this guide work exactly the same way At the moment users can supply liquidity in stablecoins or various liquid staked BNB tokens. For this purpose you need to go to: https://wombex.finance/#/bnb/stake
Pressing the down arrow on the right you can expand the deposit section for the selected pool:
You have two options for liquidity provision:
BUSD. The BUSD option implies you have BUSD in your wallet and want to deposit it into Wombex. If using BUSD, the contract will automatically deposit it to Wombat and stake Wombat LP token in MasterWombat contract from VotingProxy contract that owns Wombex-owned veWOM position in Wombat and therefore provides a boost to all LPs.
You need to approve BUSD and then push "Convert & Stake" button that will call the transaction bundling contract that will execute all the necessary steps under the hood.
LP-BUSD. The LP-BUSD option implies you already LPing in Wombat and want to move your position to Wombex. In this case, you unstake Wombat LP tokens from Wombat yourself and stake it into Wombex.
In LP-BUSD there is an advanced mode:
While the first option was described above, there are two more options for advanced users. Some users asked in the chat regarding LP tokens for liquidity provision into Wombex; and we are happy to answer that they exist and you can use it.
The second option on the screen above works as follows: the Booster stakes Wombat LP token into MasterWombat, mints DepositToken (a token of the particular Wombex pool!) and deposits it into BaseRewardPool.
The third option is follows: the Booster deposits Wombat LP tokens into MasterWombat via VoterProxy, mints DepositToken for the user, and the user needs to stake DepositToken to the BaseRewardPool himself.
All these three options lead to user's liquidity being staked in Wombat via Wombex with boosted yield by Wombex-owned veWOM position.
