Wombat Exchange
WOM
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
Wombat Exchange (WOM) is an effectively moribund stableswap protocol on BNB Chain that has suffered severe, unrecovered operational decline. In December 2022, third-party contagion involving the Ankr and Helio Protocol exploits drained an estimated $15M from the protocol's liquidity, triggering an Emergency DAO pause. While Wombat historically maintained reputable smart contract audits across PeckShield, Hacken, Zokyo, and Veridise, development activity has since ceased with zero recent commits, and community governance has stalled. Protocol TVL has collapsed from over $200M to negligible levels, trading volume is near zero, and the token price remains down more than 99% from its all-time high with no signs of recovery or remediation.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About Wombat Exchange (WOM)
Wombat Exchange (WOM) is a non-custodial stableswap decentralized exchange (DEX) protocol originally deployed on the BNB Chain in April 2022, with its native governance token launched on August 30, 2022. The protocol was designed around single-sided liquidity provisioning and a coverage-ratio pricing algorithm. WOM functions as the governance and incentive token of the platform with a fixed total supply of 1,000,000,000 tokens, utilizing a Curve-style veWOM vote-escrow model for governance voting and liquidity yield boosting.
The protocol's smart contracts have historically undergone security audits by multiple independent firms, including PeckShield, Hacken, and Zokyo, as well as a later audit by Veridise covering scoped contracts for a Soroban-network implementation.
In December 2022, Wombat Exchange suffered a major security-adjacent incident when third-party contagion linked to the Ankr and Helio Protocol exploits drained an estimated $15 million in liquidity from the platform, forcing the project's Emergency DAO to pause protocol contracts. Following the liquidity drain, total value locked (TVL) collapsed from over $200 million to negligible levels, and the WOM token suffered an unrecovered price crash of more than 99% from its all-time high of $1.08. Development activity on the protocol has since stalled, with zero recorded 30-day code commits, low trading volume, and inactive community governance.