The opening of the Wombat Exchange Voting Gauge and Bribe Market marks a new stage in the WOM Wars among Wombex Finance, Magpie XYZ and Quoll Finance.
Wombex, Quoll, Magpie Fight for WOM
Well, that escalated quickly. The opening of the Wombat Exchange Voting Gauge and Bribe Market signals a new phase in WOM Wars, the battle among three protocols for control of the stableswap’s governance token.
Holders of $WOM can stake those tokens to obtain $veWOM (“ve” stands for Voting Escrow). In turn, $veWOM gives holders governance voting power, and holders can use their $veWOM to vote to boost yields for pools they have assets staked in — and/or to vote for pools that have the most attractive bribes.
Wombex published a Medium post explaining how bribes work and how their Bribe Market will function:
“The bribe is paid to owners of voting power to reach a desired outcome in voting. Every bribe includes two participating sides:
1. The briber — a person or a project that aims to get some amount of $WOM rewards to its pool on Wombat without directly buying and owning veWOM voting power.
2. The bribe takers — a community of veWOM position holders willing to trade their voting power in current voting for some valuable assets (such as stablecoins or other tokens)”
Wombex isn’t the only WOM War combatant focused on voting and bribing. Quoll is celebrating the opening of the Wombat Exchange Voting Gauge with a token giveaway:
Meanwhile, Magpie has outlined an ambitious roadmap of its own in a recent Medium post, focusing on the integration of multiple chains and protocols, including: Arbitrum, Optimism, zkSync, Solana, Cosmos, Cardano, and two other non-EVM chains, as well as Aave, Yearn, Curve and Compound pools.
Strap in, anon, it looks like the WOM Wars have only just begun!
What Is Wombat Exchange:
Wombat Exchange is a multi-chain stableswap focused on fueling DeFi growth and promoting its product’s scalability, accessibility, and efficiency in the multi-chain space. The protocol allows users to swap stablecoins at minimal slippage and stake at maximum yield.
Where to find Wombat Exchange:
Source : bsc.news
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