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Wombat Exchange Wins Stableswap Market with $217M TVL In 24 Hours

Hong Kong, Hong Kong, 6th September, 2022, Chainwire Wombat, a multichain stableswap, has broken records for Total Value Locked (TVL) within 24 hours of launching. Users on BNB Chain deposited $217M of stablecoins within the decentralized exchange’s first day of operations, making it the network’s largest stableswap by TVL. In addition to stablecoins, whose TVL…

Hong Kong, Hong Kong, 6th September, 2022, Chainwire

Wombat, a multichain stableswap, has broken records for Total Value Locked (TVL) within 24 hours of launching. Users on BNB Chain deposited $217M of stablecoins within the decentralized exchange’s first day of operations, making it the network’s largest stableswap by TVL.

In addition to stablecoins, whose TVL now exceeds that of DEXs such as Ellipsis Finance and MDEX, Wombat has over two million $WOM locked, constituting around 15% of the token’s circulating supply. Wombat’s staking function and boosting function were both activated simultaneously during its full launch. It is now ranked the third largest decentralized exchange on BNB Chain at $213.4M in total value locked according to Defi Llama.

Wombat will now create its own ecosystem, which will allow for more protocols to be built on top. It will also be expanding to other EVM networks, making the exchange a multichain stableswap protocol. Wombat, which is the first stableswap, has adopted a single-sided liquidity pool on BNB Chain. This gives retail users greater flexibility.

What is Wombat Exchange Stableswap2.0

?

The Wombat team launched on BNB Chain because there was no sustainable stableswap. This is something that DeFi traders increasingly depend on. The Wombat team re-engineered stableswap through an innovative algorithm design that allows for lower slippage and greater capital efficiency.

Wombat was the first protocol to include an ‘equilibrium cover ratio’ in order to protect funds and maintain system health. This method allows Wombat to identify and manage risks before they become disasters. This method is extremely efficient and easily scaleable. It allows for precise calculations, lower gas fees, and manages liquidity effectively.

In the future, Wombat’s own ecosystem will flourish. This is currently being built. DeFi will be able to create tremendous value by creating an incubation laboratory to support projects built on top of Wombat. These projects will provide certain benefits to Wombat’s governance token holders through the mechanisms embedded in the $WOM token.

About Wombat Exchange

Wombat exchange is a multichain stableswap native to BNB Chain. With its innovative algorithm design, it aims to re-engineer the stableswap experience and deliver a stableswap 2.0 experience. Wombat’s goal is to drive DeFi growth, push boundaries, and provide greater capital efficiency, accessibility, and scaleability in a multichain world.

For more information, please visit

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