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Wombex current price is $0.01188 with a marketcap of $534,446. Its price is 20.68% up in last 24 hours.
Wombex is a yield aggregation and veToken accumulation protocol built on top of Wombat Exchange. The protocol operation is based on the rules of Wombat veToken model:Wombat offers base APY (offered to anyone supplying liquidity without any additional conditions) and boosted APY (depends on the user’s veWOM position)To create a veWOM position, the user needs to lock WOM for a certain amount of time (from 7 days to 4 years, longer lock-up corresponds to bigger number of veWOM received after locking)Based on the user’s veWOM position vs veWOM position of others, the boosted APY is calculated. In general terms — more WOM locked for a longer time leads to bigger veWOM position and, finally — a bigger APY for the user.Wombex’s primary purpose is to provide a WOM boost to LPs as a service and allow Liquidity Providers to earn high APY without the necessity to buy and stake WOM.