Wombex Finance, Magpie XYZ and Quoll Finance are in an arms race to control the voting power on Wombat Exchange. Check out the eye-popping APRs here!
Wombex, Magpie, Quoll: How High Can They Go?
Things are starting to get crazy in WOM Wars, and by “crazy” we mean the insanely high returns being offered by Wombat Exchange and competing yield-boosting protocols Wombex Finance, Magpie XYZ, and Quoll Finance.
Precise percentages shift based on where investments, stakes, and bribes are flowing, but as of this moment, the highest returns can be found at Wombex and Magpie, who are each attempting to lure users with APRs north of 700%!
Also shaking things up is the entrance of new players into Wombat’s liquidity pools and bribe markets, including $stkBNB, $iUSD, $CUSD, and $axlUSDC.
Let’s take a quick look across the WOM Wars landscape:
On the stablecoin swap’s Gauge page, Wombex’s $wmxWOM pool is winning the battle for yield boosting, with 30% of the governance voting token veWOM cast in its favor. Close behind is Magpie’s $mWOM with 25%. Next up are $HAY (12%) and $BNBx (10%).
Wombex is more than halfway through its two-week Bootstrap event, so users have a few more days to convert $WOM to $wmxWOM and stake to take advantage of an APR above 400%.
Even more staggering yields can be found on the Wombex Bribe Market, with one $BUSD pool touching an APR of more than 900%!
Wombex posted a Twitter thread rounding up its recent activities, including Lunar New Year campaigns and AMAs.
Magpie is hosting its second weekly WOM UP Part, enticing users to convert $WOM to $mWOM in exchange for an APR currently verging on 750%! Upon conversion, Magpie is giving users two vlMGP voting tokens for every single $WOM.
Check out Magpie’s Twitter post for more info:
Turning to matters of nuts and bolts, a Magpie governance proposal was approved and implemented that reduces the $MGP token emission by 33%, with a portion redirected to the $mWOM pool to encourage more $WOM conversion.
Rather than hosting a temporary booster event, Quoll is offering comparatively high rates on its Bribe Market, with APRs for all eligible pools north of 135% and two at more than 230% ($BNBx, $stkBNB).
Quoll also held an AMA with Helio Money:
And has partnered with Immunefi on a $500,000 bug bounty program to reward white-hat hackers for finding vulnerabilities in the Quoll protocol.
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.