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Wombat Exchange Releases First Single-Sided Volatile Pool AMM in DeFi

Press Releases Crypto News CryptoDaily UK Wombat Exchange Releases First Single-Sided Volatile Pool AMM in DeFi

Hong Kong, Hong Kong, February 2nd, 2024, Chainwire

Wombat Exchange, a leading multi-chain and cross-chain single-sided stablecoin swap, published the first-ever single-sided Volatile Pool Automated Market Maker (AMM) algorithm in the decentralized finance (DeFi) space. This groundbreaking development marks a new era in DeFi, providing the very first oracle-less, user-friendly single-asset-deposit, and capital-efficient trading environment for all asset classes, including GameFi assets. Earlier last month Wombat unveiled its GameFi expansion plan through announcement of its new Gamified Bribe Market 2.0 as well as upcoming collaborations with Animoca portfolio games.

The whitepaper release comes on the heels of Wombat Exchange’s remarkable track record, having done over $3 billion in trading volumes to date with only pegged assets, such as stablecoins, LSTs, and LRTs. The brand new single-sided volatile asset pool is expected to turn Wombat Exchange into a full-service multi-chain and cross-chain Decentralized Exchange (DEX), greatly increasing the platform’s TVL and trading volume through extending the platform’s trading coverage to include non-pegged volatile assets, including any crypto assets and GameFi assets.

The team has long been committed to capital efficiency, focusing on refining its proprietary algorithm to support high trading volumes with minimal Total Value Locked (TVL), to deliver sustainable and long-term yields for its users. This dedication has propelled the platform to some notable achievements. Wombat Exchange has swiftly secured a position among the top 7 on DefiLlama in terms of accumulated trading volume, surpassing even industry giants like SushiSwap, on Optimism, without any trading incentives, within just two months after its launch.

Earlier last month, the cross-chain swap feature of Wombat Exchange, built on Worm

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Author: Crypto Daily™

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