Quoll Finance, Magpie XYZ and Wombex Finance are tempting users with APRs well over 100% in exchange for their voting power on Wombat Exchange.
Wombex, Magpie, Quoll Get in on the Bribe Action
Bribe rewards are given to users who cast their votes (in the form of $veWOM they hold) for specific pools. (The more voting power a pool receives, the more its yield is boosted for stakers.)
On Wombat Exchange itself, bribe rewards carry juicy APRs currently ranging from 4.79% to 117.19%!
But the deals are even sweeter on the yield-boosting protocols that are vying for control of Wombat Exchange’s supply of governance tokens.
In the Quoll bribe market, four pools carry APRs of 99% or more:
- qWOM: 99.4%
- WOM: 151.6%
- HAY: 155.04%
- BNBx: 252.58%
In the Magpie bribe market, the four top APRs are:
- HAY: 30.92%
- BNBx: 37.52%
- WOM: 94.26%
- mWOM: 156.43%
While the bribes aren’t quite as high as Quoll’s, Magpie also launched a WOM UP campaign to boost its staking numbers. For seven days, users who convert WOM to mWOM and stake for vIMGP get rewards with an APR of 423.23%! (That’s a return of more than 8% for a week of staking.)
Wombex currently controls the most veWOM (38.5%, compared to 28.2% for Magpie and 14.3% for Quoll), but it was also the last entrant into the Wombat Exchange bribe market.
Right now, on Wombat Exchange, the bribe APRs for Wombex pools are:
- WOM (wmxWOM pool): 101.89%
- wmxWOM: 94.95%
On Jan. 27, Wombex announced on Twitter that it would open its own bribe market on Jan. 29, which in theory should carry far higher bribe APRs than the ones on Wombat Exchange.
Similar to Magpie, Wombex launched a short-term stake-boosting Bootstrap campaign. During the 14-day event, users who convert WOM to wmxWOM and stake/lock for vlWMX get rewards with an APR of 462.21%!
With all the bribes flying around the battlefield, which protocol will emerge victorious from the initial salvos of WOM Wars? BSC News will continue following the campaigns and reporting on their progress.
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 multichain space. The protocol allows users to swap stablecoins at minimal slippage and stake at maximum yield.
Where to find Wombat Exchange:
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.