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Wombat Exchange, known for its multichain stableswap on BNB Chain, will officially expand to the Ethereum network on August 4, 2023. The expansion aims to leverage Ethereum’s extensive liquidity and capitalize on Wombat’s success on BNB Chain and Arbitrum.
🔥 Breaking News: The long-awaited @ethereum launch is set for August 4, 2023!
Don’t blink. This is only the start. 🚀 pic.twitter.com/shVtUVBsoN
— Wombat Exchange 🐻🔁 (@WombatExchange) July 31, 2023
Wombat’s upcoming expansion builds upon its achievements on BNB Chain, where it reached an all-time high of over $100 million in 24-hour trading volume.
Its unique algorithms, combining the symmetry of traditional invariant functions with the efficiency of the ALM model, allowed Wombat to achieve faster equilibrium in liquidity pools and maintain balance longer than many stableswap protocols.
Now, upon its launch on Ethereum, Wombat will provide its advanced stableswap functionalities that include minimal slippage for swaps, single-sided provisions, and rapid calculations to save on gas fees and time.
Wombat’s proprietary closed-form quadratic solution ensures lightning-fast calculations, a feature that distinguishes it in the competitive DeFi landscape.
Special rewards and incentives have also been planned for the launch week, thanks to partnerships with leading protocols such as Lido. Further collaborations with stablecoin and liquid staking partners are expected in the subsequent weeks.
Swaps and pools will be activated immediately upon release, allowing Ethereum users to experience core Wombat functionalities:
“More collaborations and campaigns with prominent stablecoin and liquid staking partners are also planned in the coming weeks post-launch.”
Wombat Exchange’s vision of advancing DeFi growth aligns with its commitment to greater capital efficiency, increased accessibility and scalability across a multichain world:
“This launch marks a monumental moment in our mission to build the premier multi-chain stableswap ecosystem. Ethereum’s thriving landscape and extensive liquidity make it the perfect next home for Wombat.”