WMX Vote Locking
Wombex is centered around vote-locked WMX (vlWMX)
Last updated
Wombex is centered around vote-locked WMX (vlWMX)
Last updated
WMX token utility is enabled ONLY in case of being vote-locked (vlWMX) for 16 weeks. It means that in order to receive protocol fees, participate in governance, receive bribes, user has to lock WMX tokens for 16 weeks.
To vote-lock your WMX you need to go to https://wombex.finance/#/bnb/lock
To vote-lock WMX, you must enter the amount, sign the approve transaction, and lock it. At the right you will see the unlock date and the time remaining before unlocking will be possible.
After locking, you don't need to do anything else to start receiving a yield on your vlWMX. The yield comes from the 10% share of WOM mined by LPs. The vAPR metric reflects the estimation of annualized yield in wmxWOM.
Couple of must-have known features of vlWMX:
WOM rewards are accrued as wmxWOM. So, if you want to sell them you need to use wmxWOM/WOM pair at Wombat that should be added there after 26th of October.
Claiming rewards from the Bootstrap event or other Wombex liquidity mining program to vote-lock, you not only receive additional tokens (30% that are taken away from those who claims to the wallet) but also participate in the distribution of tokens taken from other users. Shortly, from time to time, you will receive additional WMX tokens from the system. When somebody claims rewards and selects to claim to their wallet (not vote-locking WMX during the claim), the 30% penalty will be applied and distributed to vlWMX holders as an additional reward.
To claim rewards earned on your vlWMX you need go first to the claiming section:
At the top of the page you will find option to claim vlWMX rewards. Note, that the Claim all button will claim ONLY vlWMX rewards and wouldn't claim other pools:
