For $WOM holders

Put your WOM to work and earn more

wmxWOM is a liquid derivative for Wombex-owned veWOM

Read about WOM and veWOM on the Wombat docs.

By depositing WOM into wmxWOM, WOM holders receive liquid staking derivative - wmxWOM and earn a share of future mined WOM, additional WMX rewards, and all Wombat rewards and yield offered to veWOM holders.

Thus WOM owners owning WOM through the Wombex contract receive bigger APY on top of their holdings than ordinary veWOM owners.

WOM and veWOM

The wmxWOM is a liquid staking derivative token of veWOM in Wombex, granted 1:1 for each veWOM deposited. Users who deposit WOM into veWOM through Wombex receive liquid wmxWOM instead of non-transferable veWOM.

All veWOM accumulated by Wombex are locked in Wombat and are used for LP rewards boosting and participating in Wombat governance.

There are two ways to receive rewards for owning wmxWOM:

1. Single-side staking of wmxWOM into LP mining contract and receive WMX rewards and share of protocol fees (5% of overall mined WOM). It is a way to generate cashflow just simply owning WOM in Wombex.

2. Deposit liquidity into wmxWOM/WOM trading pair on Wombat, stake LP token into LP mining contract, and earn WMX rewards for liquidity provision.

veWOM governance rights Governance power of veWOM accumulated by Wombex is controlled by vlWMX (vote-locked WMX) holders.