Wombat Review 2023

Wombat is a popular decentralized exchange created by Alex Lee in 2022.

It runs on 1 different chains including BNB Chain.

Wombat offers features such as liquidity mining, yield farming, spot trading and more.

We rated Wombat 4.5/5, based on it's features, security, and future prospects.

Wombat Features

Liquidity Mining

Wombat allows you to earn passive income by providing liquidity. You're given LP tokens in return, which are interest bearing. The interest comes from trading fees generated by Wombat.

Yield Farming

Hosts incentivised yield farms. You can earn boosted rewards from staked LP tokens. This is a great way to earn more crypto. Projects put up tokens for you to earn, often for marketing efforts.

Spot Trading

This means you can buy and sell the real thing. Actual crypto. Not a futures contract or derivative.

Wombat Fees

Trading Fees

All DEXs charge trading fees. Wombat is no different.

Trading fees incentivise liquidity providers to provide liquidity to Wombat. This enables people like you to freely trade between tokens without incurring too much slippage.

Withdrawal Fees

Wombat does not charge withdrawal fees.

DEXs, generally, do not require you to deposit funds onto them. Therefore there is nothing to withdraw. This is one of the many great things about dencentralized exchanges. You get to be the sole custodian of your funds.

How to use Wombat?

Get a crypto wallet that supports web3 on one Wombat's of supported chains.
Deposit crypto into the wallet, ensuring you have tokens for gas
Navigate to Wombat's homepage
Connect your wallet to the website
Goto Swap/Trade
Choose a token that you'd like to swap to
Finally, swap!

FAQ

Where can I buy WOM ?

You can by WOM direct from Wombat. It is the native token of Wombat, and they will therefore offer the most liquidity.

Is Wombat safe?

Yes, Wombat is safe to use. However, you should be aware that crypto trading carries inherent risk. dApps are vulnerable to exploits, so make sure to DYOR before investing.