Hong Kong, Hong Kong, 20th May, 2022, Chainwire
Shortly after the Beta Launch of Wombat Exchange, a hyper-efficient multi-chain stableswap backed by Binance, the crypto world was struck by the devastating collapse of TerraUSD. Wombat Exchange withstood the wild market swings in defiance of predictions, while many decentralized stablecoin exchanges were left feeble and drained. Their 24-hour trading volume reached an all-time high of $35M, and the liquidity cap ascended to $40M as of May 20th. This immense success within a month of launch surpassed notable projects like Dodo and AcryptoS on BNB Chain.
The next-generation stableswap 2.0
Wombat is a multichain stableswap native to the BNB Chain. It re-engineered the stableswap experience through its innovative algorithm design, enabling lower slippage and greater capital efficiency. Stability is one of Wombat Exchange’s main characteristics, which kept it immovably secure through the recent black swan event. They are the first protocol to bring the Equilibrium Coverage Ratio concept to maintain overall system health and, ultimately, protect its users’ funds. With this method, Wombat can spot risks and manage them before tragedies strike.