Wombex Finance

<h3 id="em-it-s-time-to-boost-wombex-vewom-in-2023-br-br-em-strong-introduction-strong"><em>It’s time to boost Wombex veWOM in 2023!<br /><br /></em><strong>Introduction</strong></h3><p>An essential part of Wombex’s Q1 2023 growth strategy is increasing protocol-owned veWOM holdings for multiplying the protocol’s governance power and APR boost.</p><p>Our research demonstrated that special events directly focused on WOM acquisition are much more efficient than routine WOM acquisition via the wmxWOM staking.</p><p>According to it, we developed an idea of the Continuous Bootstrap Event approach that will help Wombex to attract more WOM over time through a sequence of WOM-acquisition events with carefully designed logic and rewards distribution.</p><h3 id="strong-the-details-of-the-bootstrap-events-strategy-strong"><strong>The details of the Bootstrap Events strategy</strong></h3><p>The plan for Bootstrap Events in 2023:</p><ul><li>The goal of the Continuous Boostrap Event is to accumulate veWOM position over time, rewarding the community, and building long-term relationship between users, Wombex, and Wombat ecosystem</li><li>Bootstrap events will be launched periodically as a part of Wombex long-term strategy</li><li>It’s initially planned to run bi-weekly with an option to modify it in the future according to protocol needs and WOM unlock roadmap in Wombat</li><li>Each Bootstrap Event will have its own amount of WMX rewards allocated, and other incentives and prizes for the participating users</li><li>WMX rewards will be subject to a penalty for no-lockers. All WMX, collected as a penalty will be used in the next bootstrap event, increasing future rewards amount</li></ul><h3 id="strong-the-very-first-wombex-bootstrap-event-in-2023-strong"><strong>The very first Wombex Bootstrap Event in 2023</strong></h3><p>For the first Bootstrap Event we propose the following metrics:</p><blockquote>- 2 weeks duration- 400k WMX rewards- 50% penalty for no-lockers- No min or max WOM cap, everything will be market-driven</blockquote><p>The 400k WMX rewards will be taken from the Liquidity Mining token allocation.</p><p>The value proposition for WOM holders:</p><ul><li>Make WOM a productive asset (~60% APR in wmxWOM staking or wmxWOM/WOM pair on Wombat)</li><li>Earn juicy APR in WMX on top of that</li><li>Accumulate WMX &amp; increase vote-lock position straight before bribes are launched</li></ul><p>Estimated results for Wombex, protocol LPs, and vlWMX holders:</p><ul><li>Increasing Wombex veWOM holdings &amp; protocol governance power increasing future bribing efficiency</li><li>Increasing Wombex share of overall locked veWOM</li><li>Increasing average APR for LPs based on increased WOM Boost and increased WMX pro-rata emission</li></ul><h3 id="strong-note-on-the-wmxwom-peg-protection-strong"><strong>Note on the wmxWOM peg protection</strong></h3><p>One of the essential metrics for participating in Bootstrap Events is peg protection for wmxWOM, assuring possible exit to WOM for wmxWOM holders with relatively low slippage.</p><p>In order to improve wmxWOM peg Wombex already implemented two tech features:</p><ul><li>Peg protection mechanism using a share of WOM protocol fees for wmxWOM buybacks:</li></ul><p><img src="https://miro.medium.com/max/1400/0*kWlrrvccbmnqnwCG" /></p><p>Cumulative amount of wmxWOM bought. <a href="https://dune.com/queries/1860357" rel="noopener noreferrer nofollow">https://dune.com/queries/186035</a></p><ul><li>An option to buy wmxWOM on the pair instead of staking it to veWOM directly. Using this approach wmxWOM peg already improved from 0.85 to ~0.90</li></ul><h3 id="strong-when-will-the-first-in-2023-bootstrap-event-take-place-strong"><strong>When will the first in 2023 Bootstrap Event take place?</strong></h3><p>Stay tuned in Wombex Socials! The date will be announced soon.</p><h3 id="strong-follow-wombex-socials-strong"><strong>Follow Wombex Socials</strong></h3><p><strong><br /></strong><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/wombex" rel="noopener noreferrer nofollow">Medium</a></p>

Wombex Bootstrap events in 2023

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Wombex Finance

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