💡Glossary

Glossary

WOM

Wombat Exchange's governance and reward token for liquidity providers. Magpie allows WOM holders to earn boosted rewards by converting their WOM tokens into mWOM. Users can stake mWOM on Magpie to earn high APR %. Magpie then locks all the converted WOM as veWOM permanently on Wombat Exchange while user earn passive income with their mWOM.

veWOM

veWOM is accrued as users lock WOM on Wombat's platform. It is not transferable and is lost when unlocking WOM. The higher a user's balance of veWOM, the more they can boost their stablecoins yields on Wombat Exchange and more voting power they control.

mWOM

mWOM (Magpie WOM) is minted by converting WOM on Magpie. It can be staked on the platform to earn WOM, MGP and revenue share from Magpie. Users can also stake mWOM on Wombat to earn MGP rewards.

MGP

Magpie's governance and revenue sharing token. Users can lock MGP to participate in governance and earn passive income.

vlMGP

Vote-Locked MGP. Locked version of MGP. vlMGP holders control the voting power that Magpie owns on Wombat. Users can lock their MGP to receive vlMGP at 1:1 ratio. vlMGP holders can earn revenue share from the platform and also have governance rights. Vote-Locked MGP holders can participate in the governance of Wombat and Magpie.