Staking WOM into wmxWOM

The basic information about WOM->wmxWOM conversion

When WOM is staked in Wombex, it moves inside the system to be finally staked into Wombat veWOM contract:

It is clear from the scheme that wmxWOM is minted by CvxCrvToken contract, and this process is abstracted from the place where you plan to stake wmxWOM after you mint it. There are two options where you can stake wmxWOM now:

  1. The WOM Wars Bootstrap event. It will last next 11 days and allows users to share 2% of WMX total supply for being early WOM stakers. So, when users stake wmxWOM to Bootstrap contact, they simply earn WMX on a block-by-block basis proportionally to their wmxWOM share staked in the contract.

  2. The "Ordinary WOM staking". The ordinary staking is funded from the protocol fees (5% of overall WOM mined) and also will be incentivized by WMX rewards when the Bootstrap event ends. When the Bootstrap event ends, it will be the main place for staking wmxWOM.

The Guide for staking WOM, wmxWOM, and unstaking wmxWOM

Here is the link to access the Bootstrap event. When you are on the page, you have three options (after you will enable the advanced mode):

The description of each option is presented below:

  1. First of all, WOM goes to WomDepositor

  2. From WomDeposito WOM goes to VoterProxy

  3. VoterProxy deposites WOM to veWOM (Wombat contract)

  • The second option is WOM->wmxWOM conversion without staking anywhere. The user receives wmxWOM tokens in the wallet and can use it, for example, to deposit to Bootstrap or Ordinary staking.

  • The third option is staking wmxWOM, which the user already has in the wallet. For example, suppose you occasionally staked your wmxWOM to Ordinary Staking. In that case, you can unstake it, open the Bootstrap event page, enable the advanced mode, and stake your wmxWOM into the Bootstrap event using option #3.

The UI of Ordinary Staking is below:

The first option allows the user to directly convert WOM->wmxWOM and stake minted wmxWOM straight after that in Ordinary Staking via bundled transaction. Here is an example of bundled transaction to Ordinary Staking:

The options 2, 3 are the same as in the case of Bootstrap event: the second option to mint wmxWOM from WOM, and the third one to stake wmxWOM into ordinary staking.

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