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Boosted Rewards for WOM Holders
Users can convert WOM into mWOM to earn boosted APR on Magpie.
Magpie offers WOM holders the opportunity to earn boosted passive income by converting their tokens into mWOM. When users convert their WOM tokens into mWOM on Magpie the platform automatically locks all the converted WOM as veWOM on Wombat while it gives users mWOM tokens that allows them to earn boosted APR. This mechanism allows Magpie to own governance power on Wombat and earn yield-boosting benefits thanks to its veWOM holdings. Users can swap mWOM back to WOM on Wombat Exchange.