Wombex Finance

Some time ago, Wombex finished the Bootstrap event. It was the initial activity aimed at launching protocol and accumulating enough veWOM to boost yield for LPs.<blockquote>The Bootstrap event lasted 14 days. During this time, Wombex collected 6.15m veWOM from users and paid out 2m WMX tokens.</blockquote>Averaged reward was roughly 0.33 WMX per WOM locked over two weeks, so according to market prices for these two tokens, it was 520% APR on average.<blockquote>In the first days, APR was much bigger than 2000%</blockquote>Some users staked in a wrong staking option (general wmxWOM staking, not Bootstrap one) and cannot re-stake the correct option during the first days due to the UI bug. We <a href="https://twitter.com/WombexFinance/status/1587908656426721280" rel="noopener noreferrer nofollow">compensated</a> each user with the amount of WMX the user should receive if staked wmxWOM in a correct option.Bootstrap event statisticsHere is a chart demonstrating amount of WOM deposited to the protocol during the Bootstrap event vs time:<img src="https://miro.medium.com/max/1400/0*M6SZU3z6E5VBgM-l" />The red circles are showing spikes of WOM deposited from the Wombat treasury according to WMX&lt;-&gt;WOM token swap agreements (TVL KPI). The 6.15m WOM were attracted from WOM holders.WMX rewards to wmxWOM stakers were paid out linearly with the same rate during all 14 days. However, users could claim tokens to their wallet with a 30% penalty or vote-lock them, increasing the amount by 30%.The chart below demonstrates dynamic of claiming rewards to the wallets vs vote-locking:<img src="https://miro.medium.com/max/1400/0*c1GBcOW89HEMad1n" />More than 1m WMX was vote-locked, 641k withdrawn, 14k not claimed, and 275k remains as penalty:<img src="https://miro.medium.com/max/1400/0*Kjc9r4erpGDCf0xJ" />Penalty distributionTomorrow, the penalty distribution process will be initiated for all vlWMX stakers at the moment of distribution start.<blockquote>Around 2.26m WMX is locked, so vote-lockers will receive around 10–12% in WMX as an additional reward for vote-locking.</blockquote>Stay tuned for the Penalty distribution announcement!Follow Wombex socialsTwitter: <a href="https://twitter.com/WombexFinance" rel="noopener noreferrer nofollow">https://twitter.com/WombexFinance</a>Discord: <a href="https://discord.gg/wombex" rel="noopener noreferrer nofollow">https://discord.gg/wombex</a>Telegram: <a href="https://t.me/wombex" rel="noopener noreferrer nofollow">https://t.me/wombex</a>

Bootstrap Event Recap 11/9/2022 & Penalty Distribution

Wombex Finance

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