Wombex’s tips and tricks

On a mission to use Wombex efficiently

Dear Wombex Warriors!

It’s time to remind you of some simple tips which could make your Wombex journey easier and capital efficient. Here they are:

• Compound your wmxWOM yield: receive extra wmxWOM while claiming WOM rewards
• Vote-lock earned WMX rewards and increase earnings in the bribe market
• Rewards wanted: pick the best pool to put your bribe votes in!

How to receive more wmxWOM while claiming WOM rewards?

When claiming your rewards, you will be prompted to simultaneously stake your earnings. By utilizing the compounding feature, your WOM rewards will be automatically converted into wmxWOM via Wombat Exchange at the current exchange rate*:

*This option is currently live on BNB Chain and will soon be added to Arbitrum as well.

By simultaneously staking your rewards while claiming WOM, not only do you compound your stake to boost future returns, but also save on gas fees, since the transaction takes place directly between two contracts.

What’s more, exchanging WOM for wmxWOM through Wombat Exchange helps to maintain a healthy WOM/wmxWOM price peg, which is of paramount importance to Wombex.

Lock WMX rewards

Wombex LPs receive WMX rewards on top of WOM for providing liquidity and staking wmxWOM. WMX token’s utility is unlocked only when it has been vote-locked.

Holding vlWMX allows users to partake in Wombex governance, receive a share of protocol fees, and most importantly — participate in the bribe market!

Be sure to lock your WMX to realize its full potential!

Another important point is not to forget to re-lock your WMX when its locking period has expired:

WMX with an expired lock doesn’t gain rewards and can’t be used to earn bribes.

Rearrange your bribe votes

Bribe vAPRs for different pools are constantly changing. To obtain maximum bribe efficiency, rearrange your votes to the most promising pool(s).

Remember, bribe rewards are divided evenly between voters of a given pool. This means as more people shift their votes to one pool, the vAPR value for this pool will decrease.

Be attentive, do your own research and become a bribe-champion!

To save you time, Wombex plans to add an option to enable auto-rearrangement of bribe votes according to vAPRs in the near future.

Stay tuned to Wombex to stay up to date with all upcoming updates.

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