Wombex Finance

Dear Wombex Warriors!We prepared this article for the community to share our progress in 2022, the most significant milestones achieved, and our plans.It’s time to look back, analyze, and move forward. Here we go:<ul><li>Wombex launch &amp; 2022 achievements</li><li>Wombex protocol stats</li><li>Wombex 2023 roadmap</li></ul><h3 id="wombex-launch-2022-achievements">Wombex launch &amp; 2022 achievements</h3>Wombex launch &amp; storyWombex protocol was launched on the 18th of October as a result of an incredibly <a href="https://pancakeswap.finance/ifo/history" rel="noopener noreferrer nofollow">oversubscribed</a> PancakeSwap IFO that ended with ~4700% oversubscription. The IFO was launched with the huge community event - Wombex Week, rewarding the PancakeSwap community for participating in Wombex activities. At the same time, Wombex was <a href="https://twitter.com/BNBCHAIN/status/1581600851889573888" rel="noopener noreferrer nofollow">announced</a> as a BNB Chain October star project, demonstrating its importance for the entire BNB Chain ecosystem.When it all started Wombat <a href="https://twitter.com/definidude/status/1579413015770038272" rel="noopener noreferrer nofollow">was</a> at 69th position in BNB Chain TVL ranking according to Defillama with ~$109M TVL.In exactly 3 weeks, on 8th of November Wombat surpassed $200M. Wombex TVL achieved $105M.After IFO, Wombex started accumulating veWOM and stablecoin/BNB LSDs liquidity from the BNB Chain community.As a result of the two-week Bootstrap Event campaign, the protocol collected ~11M veWOM over two weeks (6m of which was coming directly from the community, and the rest five mil - from Wombat treasury as a part of WMX&lt;-&gt;WOM token swap agreement  following TVL&amp;veWOM KPI achieved):<img src="https://academy-public.coinmarketcap.com/optimized-uploads/ea129f5cdc81411688ddf085b0ff1785.png" />- <a href="https://dune.com/wombex_finance/wombex-wom-flows" rel="noopener noreferrer nofollow">https://dune.com/wombex_finance/wombex-wom-flows</a> -Wombex TVL <a href="https://twitter.com/WombexFinance/status/1584538078021984256" rel="noopener noreferrer nofollow">reached</a> $50M within 6 days from launch. Less than ten days after launch, Wombex <a href="https://twitter.com/definidude/status/1585424398797787136" rel="noopener noreferrer nofollow">reached</a> 11th position in the BNB Chain TVL ranking with ~$80M TVL, while Wombat achieved the #6 position.On November 6, Wombat <a href="https://twitter.com/definidude/status/1589188322873970688" rel="noopener noreferrer nofollow">entered</a> the top 50 projects by TVL elite club, and Wombex came close to $100M TVL, breaking it the next day with $108M and #10 rank in the BNB Chain ecosystem.Wombex achieved $100M TVL and entered the top 10 BNB Chain ranking less than three weeks after launch on the bear market.Alongside veWOM &amp; TVL acquisition results, Wombex in 2022 conducted a lot of high-profile AMAs and community activities, including BNB Chain, Coinmarketcap, and all BNB liquid staking derivatives projects. All these events attracted a truly fascinating community in the Wombex Warriors family:<ul><li>&gt;40K Twitter Followers</li><li>&gt;11K Telegram Members</li><li>&gt;29K Discord Members</li><li>&gt;965K Coinmarketcap Community Followers</li></ul>After the FTX crash, the market was incredibly volatile, and TVL in the Wombat ecosystem fluctuated a lot.Due to Wombex’s special yield distribution mechanics that enable a positive feedback loop for LPs staying in the pool in case of massive liquidity outflow, Wombex solidly preserved the #1 by TVL in the Wombat ecosystem.The secret sauce was simple: APR <a href="https://twitter.com/WombexFinance/status/1590795206030688256" rel="noopener noreferrer nofollow">multiplied</a>, providing attractive LP yields. Yield seekers quickly returned to the protocol, boosting TVL to &gt;$100M. Meanwhile, Wombex firmly held a <a href="https://twitter.com/BNBChainDevs/status/1593387943258890240" rel="noopener noreferrer nofollow">leading</a> position in WOM Wars and BNB Chain&#39;s top 10 <a href="https://twitter.com/BNB_Station/status/1595468331519078400" rel="noopener noreferrer nofollow">TVL ranking</a>.After the Ankr exploit stopped all BNB-related pools and HAY/BUSD pools and massive liquidity outflow, TVL sustained around $70M.<h3 id="wombex-2022-ending-stats">Wombex: 2022 ending stats</h3>How will Wombex enter 2023? Let’s briefly dig in current stats:<ul><li>Wombex <a href="https://www.defiwars.xyz/wars/wombat" rel="noopener noreferrer nofollow">leads</a> WOM Wars with 12.15M veWOM locked which equals ~36% control of voting power</li></ul><img src="https://academy-public.coinmarketcap.com/optimized-uploads/08264111b9194750bbb1ead168b7dcfa.png" /><ul><li>Wombex accounts for  ~63% of Wombat TVL ($66M from $105M) what means that it owns a bit more of WOM Boost power since it is <a href="https://medium.com/wombat-exchange/wombat-liquidity-mining-optimize-rewards-in-the-boosting-pool-59f8024d3eb3" rel="noopener noreferrer nofollow">calculated</a> as a function of TVL and protocol-owned veWOM position</li><li>Wombex liquid staking derivative wmxWOM is the only one in a orange peg zone (keeping &gt;90% peg) from all projects building veWOM liquid staking and yield aggregation on top of Wombat</li><li>Wombex is <a href="https://defillama.com/chain/BSC" rel="noopener noreferrer nofollow">ranked</a> #11 in the BNB Chain ecosystem by TVL</li><li>Wombex surpassed 2,000 of unique users with averaged $35K worth of liquidity deposited by a single one</li></ul><img src="https://academy-public.coinmarketcap.com/optimized-uploads/b586b8070e3144ffb539d64deae5e720.png" />- <a href="https://dune.com/wombex_finance/wombex-users-stats" rel="noopener noreferrer nofollow">https://dune.com/wombex_finance/wombex-users-stats</a> -<ul><li>Wombex continuously mines ~50K WOM every day for its LPs and this metric is quite stable what means Wombex TVL and veWOM market share in Wombat is pretty stable in these volatile times</li><li>Wombex governance token supply is ~10,61M WMX from which 38% is vote-locked for 4 months with &gt;4M vlWMX locked</li><li>Vote-locked WMX voting power is ~3 veWOM per 1 vlWMX what means that according to current WMX/WOM average exchange rate 1vlWMX controls more than 3x governance power of its current market value</li><li>Wombex comparison with Convex and Aura reveals the best TVL to M.Cap metric, comparable TVL share in the base protocol (Curve for Convex, Balancer for Aura, Wombat for Wombex), daily active users (vs AURA), liquid staking derivative peg, and vote-locked tokens metric in early days</li></ul><h3 id="what-next-wombex-2023-roadmap">What next? Wombex 2023 roadmap</h3>Wombex has a huge roadmap for 2023 targeting the most important functions of the Wombat ecosystem.Number 1: the Bribe MarketThe first completely new product that Wombex aims to deliver in 2023 is the Bribe Market.The Bribe Market is an essential product for Wombex, which vlWMX holders currently control 36% of Wombat&#39;s governance power. Evidently, these voting rights can be monetized efficiently, which Convex and Aura previously demonstrated.Historically, the launch of the bribe market resulted in the following:<ul><li>vlToken owners receive an opportunity to make decisions regarding selling their voting power on the open market. Bribes are usually paid by protocols, competing for rewards. In the case of Wombat, FRAX and TUSD have already joined, and there is much more to come (including relaunching of liquid staking derivatives pools).</li><li>DAOs are motivated to own positions in vote-locked tokens to boost rewards and influence the DEX their tokens are traded on. Convex and Aura&#39;s case resulted in many DAOs, building positions in vlCVX<a href="https://dune.com/rplust/vlCVX-Ownership-Who-has-the-power" rel="noopener noreferrer nofollow">[1]</a>,<a href="https://www.defiwars.xyz/wars/convex" rel="noopener noreferrer nofollow">[2]</a>, and <a href="https://www.defiwars.xyz/wars/aura" rel="noopener noreferrer nofollow">vlAURA</a>, respectively.</li></ul>Thus, releasing the Bribe Market is a big step forward for vlToken utility and protocol influence on the entire Wombat ecosystem.We plan to launch the Bribe Market as soon as possible and finalize developments. It is scheduled for Q1 2023.Number 2: Wombex follows Wombat and goes crosschain in 2023The next big step in Wombex development will be participation in Wombat crosschain operation. As we shared, Wombex is exclusively focused on Wombat and precisely follows Wombat&#39;s latest developments. According to it, Wombex will be deployed on all chains supported by Wombat with all necessary functions, including voting, boosting, and many more. It will provide new functions and value to all Wombex users and vlWMX holders, such as:<ul><li>Receiving boosted Wombat yields on all supported chains</li><li>Influencing governance decisions tackling all supported chains what makes vlWMX valuable in crosschain governance</li><li>vlWMX utility will expand to multichain universe, making it especially important since Wombat and Wombex will compete with other yield sources existing on these chains</li><li>Protocol fees for vlWMX will be collected from multiple chains</li></ul>We plan to release crosschain integrations for Wombex following Wombat crosschain development roadmap.Number 3: new pools in Wombex UI with special rewardsWombex aims to support all new pools created in Wombat such as recently added TUSD/FRAX/BUSD pools. Due to the biggest veWOM position and community, Wombex can offer great yields in new pools for the BNB Chain community.In addition to that, we plan to get special rewards and incentives for the Wombex community staking their liquidity in new pools.Stay tuned for announcements and don’t miss the next rewards campaign!Number 4: automated Vaults on top of WombexThe next point of the roadmap is building automated yield solutions on top of Wombat. It will be done by third party projects having vast experience in building automated yield solutions; we are discussing partnerships with such projects now. Vaults will provide seamless experience for yield generation for BNB Chain liquidity providers via the smart auto compounding function.Number 5: update of core protocol rewards mechanics for flexible rewards distributionDuring the recent months of Wombex operation, we developed a list of tech updates that will allow us to manage pools’ rewards more flexibly. It includes:<ul><li>An Ability to set different minRatio for each pool. Which allows flexible manage pro-rata emissions. For example, we can boost liquidity by providing higher emissions and higher APR;</li><li>An Ability to set custom protocol fees for different pools. Also a flexible instrument for boosting liquidity;</li><li>An Ability to add additional incentives in BEP-20 tokens for each pool besides Bonus tokens provided by Wombat itself;</li></ul>All mentioned features will be available after a security audit at the beginning of Jan 2023.Learn more about Wombex story and 2022 key events:<ul><li><a href="https://medium.com/&#64;wombexfinance/introducing-wombex-finance-e8e816074c40" rel="noopener noreferrer nofollow">https://medium.com/&#64;wombexfinance/introducing-wombex-finance-e8e816074c40</a></li><li><a href="https://medium.com/&#64;wombexfinance/how-does-wombex-work-149a9cced4f7" rel="noopener noreferrer nofollow">https://medium.com/&#64;wombexfinance/how-does-wombex-work-149a9cced4f7</a></li><li><a href="https://medium.com/&#64;wombexfinance/wombex-digging-deeply-into-vapr-e55d6c038955" rel="noopener noreferrer nofollow">https://medium.com/&#64;wombexfinance/wombex-digging-deeply-into-vapr-e55d6c038955</a></li><li><a href="https://medium.com/&#64;wombexfinance/understanding-wmx-token-e0965f1c5260" rel="noopener noreferrer nofollow">https://medium.com/&#64;wombexfinance/understanding-wmx-token-e0965f1c5260</a></li><li><a href="https://medium.com/&#64;wombexfinance/understanding-vapr-generation-and-distribution-in-wombex-a06d167670d6" rel="noopener noreferrer nofollow">https://medium.com/&#64;wombexfinance/understanding-vapr-generation-and-distribution-in-wombex-a06d167670d6</a></li><li><a href="https://medium.com/&#64;wombexfinance/how-to-use-wombex-more-efficiently-2647a06f5d64" rel="noopener noreferrer nofollow">https://medium.com/&#64;wombexfinance/how-to-use-wombex-more-efficiently-2647a06f5d64</a></li><li><a href="https://medium.com/&#64;wombexfinance/wombex-data-analysis-and-comparison-with-convex-and-aura-finance-34742301893e" rel="noopener noreferrer nofollow">https://medium.com/&#64;wombexfinance/wombex-data-analysis-and-comparison-with-convex-and-aura-finance-34742301893e</a></li></ul><h3 id="follow-wombex-socials">Follow Wombex Socials</h3>Join Us! <a href="https://twitter.com/WombexFinance" rel="noopener noreferrer nofollow">Twitter</a> | <a href="https://discord.gg/wombex" rel="noopener noreferrer nofollow">Discord</a> | <a href="https://t.me/wombex" rel="noopener noreferrer nofollow">Telegram</a> | <a href="https://coinmarketcap.com/community/profile/WombexFinance" rel="noopener noreferrer nofollow">CMC Community</a> | <a href="https://medium.com/&#64;wombexfinance" rel="noopener noreferrer nofollow">Medium</a>

Wombex 2022 Recap & 2023 RoadMap: Happy New Year, Wombex Warriors!

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Wombex Finance

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