Proposal for Wombat Exchange ($WOM) IFO to be Hosted on PancakeSwap

tl;dr

Wombat Exchange is a hyper-efficient stableswap, enabling minimal slippage and maximum yield
Strategic partners and investors include Binance Labs, Jump, and Animoca Brands
IFO Sale time has been extended to 2 hours and starts slightly later
Private Sale Allocation (10% of sale) will be increased to $1,250
iCAKE threshold will be adjusted so more users will be eligible for maximum CAKE Commit Limit
For the IFO Public Sale, the allocation depends on your iCAKE score; you need to set aside some unlocked CAKE to participate

What is Wombat Exchange?

Wombat Exchange is a next generation multi-chain stableswap native to BNB Chain.

Utilizing a stableswap 2.0 model, Wombat users are able to: swap stablecoins at hyper-efficient exchange rates with minimal slippage; and earn a sustainable and optimal yield on their assets via single-staking pools.

There are currently 9 projects – and many more to come – building on top of Wombat Exchange, including: convex forks, yield aggregators, fixed income products, etc, which will accrue value to both the Exchange and $WOM.

Wombat currently supports stablecoins and will shortly include support for liquid-staking assets.

What is $WOM?

WOM is Wombat Exchange’s governance token, and token holders are eligible to participate and vote on governance decisions of Wombat and protocols building on top of Wombat.

WOM can also be locked to obtain the yield booster veWOM, which applies a boost to all stablecoin pools and maximizes users’ APR.

WOM Token Distribution

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

IFO Sale Details

Sale start time: ~1200 UTC on Tue 30 Aug 2022
Sale end time: ~1400 UTC on Tue 30 Aug 2022
Amount to be raised: $2,100,000 USD in CAKE tokens
Tokens to be sold: 28,000,000 WOM (2.8% of WOM total supply)
Price per token: 1 WOM = $0.075 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 WOM 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.

For this IFO, the iCAKE threshold will be adjusted so more Public Sale participants will be eligible for maximum CAKE Commit Limit.

An Explainer: What are the 2 different sale sessions?

Private Sale ($210,000, 10% 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 $1250.

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

Public Sale ($1,890,000, 90% 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 WOM IFO is as follows:

Overflow multiplier

The WOM Syrup Pool:

Stake CAKE tokens to earn WOM!

Total Tokens: 6,000,000 WOM
Distribution duration: 60 days
Start time: Shortly after the IFO ends
Finish time: Approx. 60 days after Syrup Pool launch
Token rewards per block: 3.4722 WOM

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 WOM Farm:

We will host a WOM-BUSD farm that will have 2x CAKE rewards for the first 57,600 blocks (approx. 48 hours) and thereafter, 1x CAKE rewards.

At the end of the 60-day period – approx. 1400 UTC on 29 Oct 2022 – the farm will have its rewards removed unless the following metrics is comparable with other 1x 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://wombat.exchange
Twitter: https://twitter.com/WombatExchange
Discord: https://discord.gg/wombat
Telegram: https://t.me/WombatExchange
Docs: https://docs.wombat.exchange
Medium: https://medium.com/@wombatexchange
Audits: Hacken, Peckshield, and Zokyo

⚠️⚠️⚠️BEWARE OF FOOD POISONING⚠️⚠️⚠️

WOM Official Token Contract Address: https://bscscan.com/token/0xad6742a35fb341a9cc6ad674738dd8da98b94fb1

WOM tokens will not be available for trading before or during the IFO. Any other WOM token will be a scam and will result in a financial loss. Always verify the token address before buying tokens. If you receive a WOM 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.