Wombex Finance

Weekly statsThis week was extremely volatile and complicated due to events around FTX and Alameda affecting the entire crypto market. The TVL in Defi applications was affected as well.Wombex TVL reached $108m ATH before the FTX crash. Now it is around $61.5m:<img src="https://miro.medium.com/max/1400/0*g9mCYoO6GY61xDr7" /><a href="https://dune.com/wombex_finance/wombex-pools" rel="noopener noreferrer nofollow">https://dune.com/wombex_finance/wombex-pools</a>Due to liquidity exit, APR on some pools considerably grew due to the <a href="https://medium.com/&#64;wombexfinance/understanding-vapr-generation-and-distribution-in-wombex-a06d167670d6" rel="noopener noreferrer nofollow">algorithm</a> of rewards distribution, used in Wombex. Around $50m TVL the left mined a lot of WOM tokens that now will be distributed to remaining LPs in all pools:<img src="https://miro.medium.com/max/1400/0*AmsqFjzOdyI4BtUE" /><a href="https://wombex.finance/#/bnb/stake" rel="noopener noreferrer nofollow">https://wombex.finance/#/bnb/stake</a>Wombex veWOM holdings account for ~37% of total veWOM locked:<img src="https://miro.medium.com/max/1400/0*wh2vi8uSEA6FWL1Y" /><a href="https://dune.com/wombex_finance/wombex-wom-flows" rel="noopener noreferrer nofollow">https://dune.com/wombex_finance/wombex-wom-flows</a>The amount of vlWMX grew &#43;380k last week and approached 2.5m:<img src="https://miro.medium.com/max/1400/0*moghVgw3Dy0RAMwu" /><a href="https://dune.com/wombex_finance/wmx-token" rel="noopener noreferrer nofollow">https://dune.com/wombex_finance/wmx-token</a>Penalty distributionTo enable Penalty Distribution we initiated two transactions. The first one transferred WMX collected as penalty from the Bootstrap event to the special <a href="https://bscscan.com/address/0xa65C11dD6184F8942994565952A2741C16e94d38" rel="noopener noreferrer nofollow">wmxPenaltyForwarder</a> contract:<a href="https://bscscan.com/tx/0xca0b53978bb57446d15885c5847518846dab0c3f3fcd85a275acb70d773f19d8" rel="noopener noreferrer nofollow">https://bscscan.com/tx/0xca0b53978bb57446d15885c5847518846dab0c3f3fcd85a275acb70d773f19d8</a>The second transaction distributed WMX to the <a href="https://bscscan.com/address/0xa30243610844ca7f3fe99292e2be2954df64b554" rel="noopener noreferrer nofollow">ExtraRewardsDistributor</a> contract:<a href="https://bscscan.com/tx/0xc20ef0ce790aefbf5735e0f6959d519f2f9fdcba773374e1aa52073e9dcb2f07" rel="noopener noreferrer nofollow">https://bscscan.com/tx/0xc20ef0ce790aefbf5735e0f6959d519f2f9fdcba773374e1aa52073e9dcb2f07</a>How does it work?<ol><li>All vlWMX stakers are eligible to participate in Penalty Distribution.</li><li>Distribution is made via epochs, if you had vlWMX in the previous epoch and hold it now, you are eligible to the current epoch distribution. If you staked WMX just recently in the middle of the epoch, you will be eligible for claim only from the next epoch.</li><li>The UI for claiming will be released during the coming week.</li><li>Here is the instruction on how to check out/claim rewards. You need to access the following contract via bscscan: <a href="https://bscscan.com/address/0xa30243610844ca7f3fe99292e2be2954df64b554#readContract" rel="noopener noreferrer nofollow">https://bscscan.com/address/0xa30243610844ca7f3fe99292e2be2954df64b554</a></li></ol>You need to select the “Write contract” and connect your browser wallet. After that select the “GetReward”, add there WMX token address and index “0”:<img src="https://miro.medium.com/max/1400/0*TPlAs-eXSbCORxR0" />The address of the WMX token contract is 0xa75d9ca2a0a1D547409D82e1B06618EC284A2CeD. Push “Write” and sign the tx.Tech and UI updatesThis week there were several updates:<ol><li>We updated Booster and womDepositor contracts to new versions. It was done since there was a theoretical possibility to abuse reward distribution (however, it wasn’t used practically by anyone). This issue couldn’t affect the safety of users’ funds, but could provide more rewards to abusers.</li><li>We successfully updated it and added new contract addresses to our <a href="https://docs.wombex.finance/deployed-addresses" rel="noopener noreferrer nofollow">Gitbook</a>. Everything works fine.</li><li>We added a feature in UI that allows users to stake part of mined WOM into wmxWOM and claim another part to the wallet. The same tool is applied to WMX/vlWMX.</li></ol>It can be a good tool if you want to stake part of your earnings as a long-term bet and claim some tokens to fix yield on your liquidity:<img src="https://miro.medium.com/max/1400/1*19d4WLvM82ONcUpRtCHraA.png" /><a href="https://wombex.finance/#/bnb/claim" rel="noopener noreferrer nofollow">https://wombex.finance/#/bnb/claim</a>Community updates<ol><li>BSC News Spaces AMA, November 7th; 7pm UTC</li></ol>Wombex Finance has attended to BSC News AMA to explain about Wombex and Wombat Ecosystem, Wombex Performance and Protocol metrics.Replay link : <a href="https://twitter.com/i/spaces/1vOxwMzdykEGB" rel="noopener noreferrer nofollow">https://twitter.com/i/spaces/1vOxwMzdykEGB</a>Participants : BSC News and Samy K2. BSC Daily Spaces AMA, November 10th; 4PM UTCWombex Finance and BSC Daily held an AMA about Wombex Finance Protocol, metrics, community aspect and protocol metrics. Also this AMA had a prize pool, we provided rewards to winners.Replay link : <a href="https://twitter.com/i/spaces/1nAJErjNDXoxL" rel="noopener noreferrer nofollow">https://twitter.com/i/spaces/1nAJErjNDXoxL</a>Participants : BSC Daily and Samy K3. Crypto Rand Discord AMAWombex Finance participated to Crypto Rand Wom Wars AMA with Wombat Exchange, Magpie and Quoll Finance to explain community about WOM Wars and answered questions.AMA link : <a href="https://discord.gg/cryptorand" rel="noopener noreferrer nofollow">https://discord.gg/cryptorand</a> — #wom-wars-ama channelParticipants : Kuro — Crypto Rand, CherieM — Wombat, Savage — Wombex, Lego — Magpie, Muazpe — QuollFollow 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>

Wombex: Weekly Recap & Penalty Distribution

Wombex Finance

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