Wombat Exchange Opens Doors For More Rewards Through Fee Sharing Feature

Fee Sharing Set to Go Live 

Wombat Exchange is set to launch its new reward-generating feature, Fee Sharing, to the BNB Chain ecosystem. Liquidity Providers (LP) will earn rewards when users utilize the stableswap Decentralized Exchange (DEX). 

The DEX explained the feature through a Twitter thread on February 23. As the name implies, fee sharing ensures that Wombat LPs receive 50% of the fees generated from users who utilize its unique offerings directly through the website or any DEX aggregator. The remaining 50% will be added to the Wombat treasury. 

The feature will offer LPs rewards even when they do not stake assets on the platform. LPs who stake will earn additional rewards for locking their $WOM tokens and the fee sharing Annual Percentage Rate (APR). The mechanism is about the protocol’s goal of rewarding loyal LPs on its hyper-efficient multi-chain DEX. 

Wombat disclosed that the feature would go live on February 28 at 6:00 UTC, instigating huge anticipation from the community. Wombat Exchange launched mainnet in September 2022. The protocol recorded 200 Million in Total Value Locked (TVL), 24 hours after launch, and since then, the protocol has experienced significant growth in the industry. BSC News will continue monitoring the protocol’s development across the Decentralized Finance (DeFi) space. 

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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:

Website | Twitter | Discord | Medium | Telegram

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