Announcing Wombat IFO on PancakeSwap
Wombat Exchange is very excited to announce that after earning the most votes from the PancakeSwap community, we are now officially the next project to launch on PancakeSwap!
After our public offering’s launch, 1.53% of the total token supply will circulate in the market with a market capitalization of $1.15M. Bigger things are coming and we’re very happy to have shared this journey with you!
IFO Sale details
- Sale start time: ~1200 UTC on Tue 30 Aug 2022
- Sale end time: ~1400 UTC on Tue 30 Aug 2022
- Amount to be raised: $2,100,000 USD in CAKE tokens
- $WOM Token Distribution: 28,000,000 WOM (2.8% of WOM total supply)
- Token price: 1 WOM = $0.075 USD
- Token Vesting Schedule: 20% will be unlocked at the sale end time (~1400 UTC), with the remaining 80% released block-by-block over 90 days.
- IFO link: https://pancakeswap.finance/ifo
How to participate?
There are 2 sale sessions available: Public Sale and Private sale. A user can choose to participate in both sales, but each has its own conditions and requirements listed below:
Both sales require a user to create their PancakeSwap profile, this process will cost a total of 1.5 CAKE. If you’re unsure of what to do, you may refer to the tutorial here.
For Public Sale, users will need to lock CAKE in the fixed-term CAKE staking pool to get iCAKE, which determines the maximum CAKE commit limit in the IFO. For example, if you have 100 iCAKE, you will be able to commit 100 CAKE in the Public Sale. Refer to PancakeSwap’s documentation for more information about iCAKE and its calculation.
For Private Sale, users are required to own a Pancake Squad NFT, and set them as their Pancake Profile avatar. You may purchase the NFT from the marketplace on PancakeSwap.
Is there a participation fee for the IFO?
The participation fee only applies to the Public Sale. The participation fee for the Public Sale will start at 0.5% and decreases in cliffs, based on the percentage of overflow from the Public Sale. There is no fee for the Private Sale.
The overflow method is adopted by both Public and Private Sales, where the more a user put in, the more a user will get, and anything left unspent will be returned.
Is there another option to get WOM?
A WOM Syrup Pool will also go live shortly after the IFO ends, where you can stake CAKE to earn WOM. Details are shown below:
- Total Tokens: 6,000,000 WOM
- Distribution Duration: 60 days
- Start time: Shortly after the IFO ends
- Finish time: Approx. 60 days after the Syrup Pool launch
- Token rewards per block: 3.4722 WOM
- Max. stake per wallet: 100 CAKE for the first 5 days, unlimited CAKE staking afterwards
Please note that to stake in the IFO Syrup Pool in the first 5 days, you’re required to have an active PancakeSwap Profile. The requirement will be removed thereafter.
What can I do with $WOM after the sale?
PancakeSwap will host the WOM-BUSD farm, where it will have 2x CAKE rewards for the first 57,600 blocks (approximate 48 hours), and 1x CAKE rewards afterwards.
The full launch will be live a few days after TGE. By then, you’ll be able to lock your WOM on Wombat to obtain the yield booster veWOM, which applies a boost to all stablecoin pools and maximizes your APR! More details will be released so stay tuned!
About Wombat Exchange
Wombat Exchange is a multichain stableswap native on the BNB Chain, focused on re-engineering the stableswap experience with its innovative algorithm design as the next-generation stableswap 2.0.
Wombat’s vision is to fuel DeFi growth and push boundaries with greater capital efficiency, increased accessibility, and scalability, with the adoption in a multichain world. To learn more, visit wombat.exchange, or follow us on the social channels below:
