VOTE ON THIS VERSION: Proposal for Wombex ($WMX) IFO to be Hosted on PancakeSwap

Please vote on this version of this proposal, as it contains several revisions from the prior post (posted on Block 22164639), including details such as the token price in the previous Strategic Sale. Only votes from this proposal will count towards the Wombex IFO decision.

tl;dr

• Wombex is a customized fork of Convex, designed specifically for the Wombat Exchange ecosystem
• Lead by a crypto-native team with ConsenSys, Binance, and Ethereum Contributor experience

What is Wombex?

Wombex is a yield aggregation and veToken accumulation platform built on top of Wombat, whitelisted by the Wombat Exchange team.

It’s a fork of Convex with additional development and improvements to the original models, such as:

• Dynamic token emission mechanism,
• Simplified user experience via transaction bundling solution, and
• Customisation for current and future planned Wombat architecture.

For WOM holders, Wombex offers the opportunity to earn more on their WOM by staking WOM into wmxWOM (Wombex-owned veWOM).

• Screenshots of Testnet App (Mainnet to be released immediately after IFO Sale):

What is $WMX?

Vote-locked $WMX has the following utilities:

• Govern Wombex Finance
• Influence Wombat governance (through meta-governance mechanism)
• Revenue sharing of Wombex Protocol Fees

WMX Token Distribution

• Wombat Wars Reward incentive emissions rate

This graph details the emissions curve, which can be changed by DAO Governance. For more information on the emissions curve, please visit the docs.

If any of the terms are unclear, please ask our friendly community, or read this article on vesting.

Please also note that,

IFO Sale Details

• Sale start time: ~1200 UTC on Tue 18 Oct 2022
• Sale end time: ~1400 UTC on Tue 18 Oct 2022
• Amount to be raised: $1,200,000 USD in CAKE tokens
• Tokens to be sold: 40,000,000 WMX (4.0% of WMX total supply)
• Price per token: 1 WMX = $0.30 USD
• Token Vesting Schedule: 20% will be unlocked at Sale end time (~1400 UTC), with the remaining 80% released block-by-block over 90 days.

All CAKE raised from the WMX token sale will be given to the IFO project. Only CAKE raised from the participation fee will be burnt.

Method: Public Sale and Private Sale (Both conducted via the Overflow method).

What is the “Overflow” sale method?

Basically, the more you put in, the more you will get, and you’ll get back anything that doesn’t get spent. More details below in the Overflow Multiplier Table.

To participate in the IFO:

Refer to the IFO participation guide and iCAKE article.

iCAKE and locked CAKE cannot be used to buy tokens in the IFO, so you would need a separate amount of CAKE to commit to the IFO.

An Explainer: What are the 2 different sale sessions?

Private Sale ($300,000, 25% of Sale allocation)

For the Private Sale, participants are required to own a Pancake Squad NFT, and set them as your Pancake Profile avatar.

For this Private Sale, the maximum amount of funds that can be committed per user is $1000.

The final allocation you receive will still be subject to the total amount raised in this session.

Public Sale ($900,000, 75% of Sale Allocation)

As the name suggests, the Public Sale is open to all. However, this comes with a participation fee, which will be fully burned!

The fee cliff for the WMX IFO is as follows:

Overflow multiplier

The WMX Syrup Pool:

Stake CAKE tokens to earn WMX!

• Total Tokens: 1,000,000 WMX
• Distribution duration: 60 days
• Start time: Shortly after the IFO ends
• Finish time: Approx. 60 days after Syrup Pool launch
• Token rewards per block: 0.5787 WMX

Max Stake per Wallet:

100 CAKE for the first 5 days, then unlimited CAKE staking thereafter – the cap will enable everyone to enjoy pool rewards at a high APY.

For the first 5 days, you need an active PancakeSwap Profile in order to stake in the IFO Syrup Pool. No PancakeSwap Profile requirement thereafter.

The WMX Farm:

We will host a WMX-BUSD farm that will have 1x CAKE rewards for the first week and thereafter, 0.5x CAKE rewards.

At the end of the 60-day period – approx. 1400 UTC on 17 Dec 2022 – the farm will have its rewards adjusted to 0.1x unless the following metrics is comparable with other 0.5x multiplier farms: average daily volume, 14-day volume, unique token holders on BNB Chain, and there are no fundamental token issues etc.

To learn more, visit the project’s official channels:

• Website: https://wombex.finance/
• Docs: https://docs.wombex.finance
• Twitter: https://twitter.com/WombexFinance
• Discord: https://discord.gg/t6b8YEsybv
• Telegram: https://t.me/wombex
• Medium https://medium.com/@wombexfinance
• Audits: https://docs.wombex.finance/audits (PeckShield and SlowMist)

⚠️⚠️⚠️BEWARE OF FOOD POISONING⚠️⚠️⚠️

All WMX, vlWMX, and associated token addresses will be published on the docs >> here <<.

When they are published, we will publicize them through our social channels.

🚨PLEASE NOTE: WMX tokens will not be available for trading before or during the IFO!🚨

• Any other WMX token will be a scam and will result in a financial loss. Always verify the token address before buying tokens. If you receive a WMX token airdrop from another address, it’s probably a scam.

Disclaimer - All projects are subject to high market risk and volatility. Please do your own research and buy with caution. PancakeSwap will not be held responsible for any investment losses.