Hong Kong, Hong Kong, 27th March, 2023, Chainwire
Wombat Exchange, the leading stableswap on the BNB Chain, is proud to declare its expansion into the multichain realm with its debut on the foremost Ethereum layer-2 network – Arbitrum One, slated for April 5th, 2023 at 6 AM UTC. This development marks an important milestone for the Wombat Exchange, as it strives to fuel DeFi growth and expand boundaries with greater capital efficiency, enhanced accessibility, and scalability in a multichain world.
Since launch in September 2022, Wombat Exchange has reached a lifetime peak of $217M TVL and continues to pull in high transactional volumes. Despite having only ~40M TVL, Wombat has recently been ranked 4th in total trading volume in the whole crypto space, and is now regarded as the 2nd largest DEX by trading volume on the BNB Chain, demonstrating the capabilities and capital efficiency of its algorithm.
Wombat Exchange and the Arbitrum blockchain share a common vision for DeFi innovation and community-building. The pioneering spirit and dedication of the Arbitrum team matches perfectly with Wombat’s objectives to provide an outstanding stablecoin swapping experience. With its algorithm enhancement and the implementation of the coverage ratio concept, Arbitrum users will be able to swap stablecoins with minimal slippage and offer single-sided liquidity.
To further extend the reach and bring more yield opportunities and flexibility to token holders, Wombat is bringing the entire Wombat ecosystem, including Convex forks namely Wombex, Magpie, and Quoll, to Arbitrum.
Alex, Founder of Wombat Exchange, stated, “The core and the most crucial goal of Wombat is being the best stableswap we can be. We believe that for any blockchain or DeFi to survive and thrive, a good stableswap is the key to serving as the foundation for the entire ecosystem. Our team is thrilled to extend our offerings to the Arbitrum network, and we are confident that we will build a strong and dynamic community.”
Wombat is excited to kickstart its launch on Arbitrum on 5th Apr 2023 at 6 AM UTC with a liquidity mining rush program, giving users the chance to earn a significant amount of WOM through staking.
For more information on the Arbitrum launch, please visit: http://bit.ly/3LQarF3
About Wombat Exchange
Wombat Exchange is a multichain stableswap native on BNB Chain. It’s dedicated to re-engineering the stableswap experience with its innovative algorithm design to offer a next-generation stableswap 2.0 experience.
Wombat’s vision is to fuel DeFi growth and push boundaries with greater capital efficiency, increased accessibility, and scalability in a multichain world.
For more information, visit:
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Contact
Cherie Man, [email protected]