Web3 Social is going to look different in 3 weeks, as a wave of new, innovative projects emerge from Connected 2023, a Web3 social hackathon by BNB Chain & CyberConnect. Since we [announced](https://mirror.xyz/cyberlab.eth/OTEmENkz99aYSzVJtLvdWF6Rev5I3uZm2QoWLJBnO1M) Connected 2023 two weeks ago, we have received applications from over 100 teams proposing an extraordinary variety of Web3 social ideas.\n\nNow that the applications are closed and hackers get their heads down building, it is time for you, the users to have a say in the future of Web3 social. Get involved by voting for your favorite projects, showcase your support, and get a chance to win Mystery Boxes. 200 Mystery Boxes will be available, worth a total of [$50,000 - $100,000](https://opensea.io/collection/link3-mystery-box).\n\n\n---\n\n*Have any questions about the hackathon rules and logistics? Check out the [kickoff event recording](https://www.youtube.com/watch?v=d3_rYSpNDoQ&ab_channel=CyberConnect) or join the [hackathon discord server](https://discord.gg/34ZuyP9CnS).*\n\n\n---\n\n## The Leaderboard is Live Now\n\nCheck out the participating project leaderboard at [cyberconnect.me/hackathon](http://cyberconnect.me/hackathon).\n\nExplore and learn more about the projects by clicking on the card. This will guide you to the project's official and verified Link3 profile. Give them a follow and stay updated about their product progress.\n\nAre you a hacker at Connected 2023 but don't see your project on the leaderboard? Reach out to us [here](https://forms.gle/44tHBLGUL31ZvTHC9).\n\n\n---\n\n## Vote to Win One of 200 Mystery Boxes\n\nWeb3 social is built for users. Now it's time for every user to participate and define the future of social!\n\nWe have prepared 200 Link3 Mystery Boxes, worth a total of [$50,000 - $100,000](https://opensea.io/collection/link3-mystery-box), to reward those who vote for the **winning projects**.\n\n**Winning projects** are projects who win at least one bounty from the hackathon and the results will be announced on March 13 our demo day. There are 23 bounties in total and at least 13 winning projects. For more details on bounties, please see our [Hackathon Guidelines](https://drive.google.com/file/d/1xiDgJVSrAi6cK-FzdW9TXqsCEzmCqv6p/view?usp=sharing).\n\nNote that the number of votes received by projects is only one factor to be considered for judges' evaluation, in addition to other criteria such as Functionality, Novelty, Impact, and Business Plan. So the leaderboard ranking is not the hackathon result.\n\n\n---\n\n## How the raffle works\n\n* Every ccProfile holder can vote once per day.\n\n* Voting will end on March 12 at 11:59 PM UTC\n\n* Each vote is a W3ST (Web3 Status Token, pronounced as West) and can be showcased on your [Link3](https://link3.to) profile!\n\n* One vote for a **winning project** counts as one entry into the raffle.\n\n* On March 13, hackathon prizes will be announced and projects winning at least one bounty are **winning projects**.\n\n* Each address can only win one Mystery Box. If one of your votes wins a mystery box, all your other votes will stand null and void.\n\n* You only need to share the poster on Twitter and save the link once.\n\n**Only votes for winning projects will enter the raffle. The raffle will take place over two rounds:**\n\n### Raffle Round #1\n\n* All winning projects will each be allocated 5 Mystery Boxes for mini raffles.\n\n* For every winning project, votes cast for that project will enter a mini raffle for a chance to win the 5 Mystery Boxes allocated.\n\n* There will be at most 23 winning teams from the 23 prizes. So there will be at most 115 Mystery Boxes will be up for grabs in this first round of the raffle.\n\n### Raffle Round #2\n\n* All the votes that did not win in the first round, will be entered into a second and final round of the raffle.\n\n* There will be at least 85 remaining Mystery Boxes up for grabs by lucky winners.\n\n\n---\n\n### The rules in one sentence:\n\n> ***Vote every day and DYOR to vote for projects with fewer votes but high winning chances.***\n\n\n---\n\n**Here's an example for those who want to get to the bottom of things:**\n\n* Alice votes 15 times on **Project A** and 5 times on **Project B**. Bob votes 20 times on **Project C.**\n\n* When results are announced on 3/13, **Project A**, **C**, and another 15 projects each win at least one bounty while **Project B** doesn't win anything. **Project A** has 500 votes in total, **Project B** has 1,000 votes, **Project C** has 10,000 votes, and the other 15 winning projects have 20,000 votes in total.\n  So there are 17 winning projects (no **Project B**) and 30,500 (500 + 10,000 + 20,000) votes entering the raffle.\n\n* Raffle Round #1 will distribute 85 (17 x 5) Mystery Boxes and Raffle Round #2 will distribute 115 (200-85) Mystery Boxes\n\n* In Raffle Round #1, 500 votes for **Project A** will enter the raffle to win 5 Mystery Boxes allocated for **Project A** and 10,000 votes for **Project C** will enter the raffle to win 5 Mystery Boxes allocated for **Project C**. The other 15 winning projects each will have a mini raffle for 5 Mystery Boxes.\n  In Raffle Round #1, Alice will have 15 votes out of 500 votes to win one of the 5 Mystery Boxes and Bob will have 20 votes out of 10,000 votes to win one of 5 Mystery Boxes.\n\n* If Alice wins a Mystery Box from Raffle Round #1, she will not enter Raffle Round #2.\n\n* If Bob doesn't win a Mystery Box from Raffle Round #1, his 20 votes will enter Raffle Round #2 for a chance to win one of 115 Mystery Boxes. For Raffle Round #2, in total there will be 30,500 votes minus votes by those who win a Mystery Box in Raffle Round #1.\n\n\n---\n\n## Detailed 3 steps to vote and join the raffle\n\nHead to [cyberconnect.me/hackathon](http://cyberconnect.me/hackathon) and follow three steps:\n\n* **Mint your ccProfile**\n\n  Minting is FREE during the hackathon. No invitation code is needed. Minting cost and gas fee are covered by CyberConnect for handles with 12 or more characters.\n  A ccProfile is your decentralized identity and universal account in the CyberConnect ecosystem. Start exploring the new social now!\n\n* **Upvote your favorite projects**\n\n  Voting for Connected 2023 hackathon projects is on-chain and verifiable and every vote will be represented as a W3ST (Web3 Status Token). Click Upvote and confirm the transaction. You cannot revoke your vote once confirmed.\n  For every successful vote, a special W3ST will be sent to you as a vote badge. You can showcase that on your [Link3](https://Link3.to) profile (Coming soon).\n  There's only **one vote per ccProfile holder per day**. The vote quota refreshes every day at 00:00 UTC.And again, **only votes for any of the winning projects will count as entries to the Mystery Box raffle.** So choose your project mindfully.\n\n* **Share the poster and invite people for support**\n\n  There will be a poster generated automatically for you to showcase your support for your favorite project. The poster highlights your ccProfile and shows how early you are in supporting the project. Click on the poster to copy it, click Share on Twitter, paste your poster, and share it with your network!\n  Take your Tweet link back to the voting page and save it.\n\nThen you are all set! You should see a message confirming that you've finished the tasks and your votes for any winning projects will be counted as raffle tickets.\n\nCome back every day after 00:00 UTC to cast your daily vote to maximize your winning chances! You don't have to share the poster every day.\n\n\n---\n\n### Voting starts at 02:00 UTC, Feb 23 and closes at 23:59 UTC, Mar 12\n\nWe will be announcing the winning projects on the demo day and running the raffle soon after.\n\n\n---\n\nStay tuned for the leaderboard and project updates on [CyberConnect Twitter](https://twitter.com/CyberConnectHQ). Join our [Discord](https://discord.gg/cyberconnect) & [Telegram](https://t.me/CyberConnectOfficial) to not miss out on any news.\n\nHead to [cyberconnect.me/hackathon](http://cyberconnect.me/hackathon) and start voting. The future of Web3 Social is getting built with your vote.\n\n\n---\n\n***Join CyberConnect Community***\n\n*[Website ](https://cyberconnect.me/)%7C [Link3](https://link3.to/cyberconnect) | [Docs](https://docs.cyberconnect.me/) | [Twitter](https://twitter.com/CyberConnectHQ) | [Medium](https://medium.com/@cyberconnect) | [Mirror](https://mirror.xyz/cyberlab.eth) | [Discord](https://discord.gg/cyberconnect) | [Telegram](https://t.me/CyberConnectOfficial) | [Newsletter](https://cyberconnect.me/#:~:text=Say%20Hi%20Here-,Subscribe,-CyberConnect%20is%20a)*\n\n***About Connected 2023***\n\n*Connected 2023 is a Web3 social hackathon by decentralized social graph protocol CyberConnect in partnership with BNB Chain, the world's largest smart contract blockchain in terms of daily active users. With over $50,000 in prizes, seed funding, and mentorship, Connected 2023 will run from Feb 7 - March 13 and is open to hackers around the globe. Interested hackers and teams can learn more about the hackathon or apply here:* [cyberconnect.me/hackathon](https://cyberconnect.me/hackathon)\n\n***About CyberConnect***\n\n*[CyberConnect](https://cyberconnect.me/) is a decentralized social graph protocol with identity sovereignty for mass adoption and network effects. It enables users to create profiles as the anchor of users' decentralized identities. With CyberConnect, users own their social graph, content, monetization channels, and social data allowing them to travel across several dApps seamlessly without having to recreate their network on every new platform. As of February 2023, CyberConnect has 123k+ user profiles and 200k monthly active users who have done more than 1M transactions.*

Introducing the Project Leaderboard at Connected 2023

​

![](https://link3-image.cyberconnect.dev/4f222631-638a-044a-ead3-89422e4e2509/5074f3a10aea53ba)

​

**NFTScan is the world's largest NFT data infrastructure. **

NFTScan supports the full amount of NFT data of 12 blockchains including Ethereum, Solana, BNBChain, Moonbeam, Polygon, Arbitrum, Optimism, Fantom, Avalanche, Gnosis, Cronos and PlatON. 

NFTScan provides professional NFT data services for Web3 developers. NFTScan currently serves over 200 blockchain projects, including CMC, imToken, Safepal, BitKeep, CyberConnect, Bybit, Mask Network, OneKey, DefiYield, Kucoin, TokenPocket, Numbers, Cobo, Enjin, RSS3, and more.

**NFTScan Products：**

- NFT Explorer: [https://nftscan.com/
](https://nftscan.com/)NFT Explorer provides developers and users with professional NFT asset data search and query functions, including: NFT Collection, NFT Contract, Wallet Address, NFT TxHash and other multi-dimensional data search queries.

​

- NFT OpenAPI: [https://developer.nftscan.com/
](https://developer.nftscan.com/)The OpenAPI platform launched by NFTScan supports the full amount of NFT data of the Ethereum、BNBChain、Polygon、Moonbeam、Arbitrum、Optimism、Solana、Avalanche、Fantom、PlatON、Cronos、Gnosis . Developers have 10,000 free calls per day. At the same time, a professional version of paid services is also launched to meet larger-scale data requests; in addition, NFTScan also supports customized API interfaces to meet developers' needs for NFT data in various business scenarios. Developer docs: [https://docs.nftscan.com/](https://docs.nftscan.com/)

​

- NFT Portfolio: [https://portfolio.nftscan.com/
](https://portfolio.nftscan.com/)NFT Portfolio is a dashboard product launched by the NFTScan team. Users can easily manage the NFT assets in their own multi-chain wallet addresses through the NFTScan Portfolio.

​

- NFTScan as a Service: [https://www.nftscan.com/naas
](https://www.nftscan.com/naas)The NFTScan team can develop NFT infrastructure for any blockchain network, providing professional NFT API data services for developers in the ecosystem and professional NFT explorer products for users. If you are a development team for a new blockchain network, welcome to contact us and experience our NaaS service.

​

**Links：**

NFTScan: [https://nftscan.com/](https://nftscan.com/)

Developer: [https://developer.nftscan.com/](https://developer.nftscan.com/)

API Docs: [https://docs.nftscan.com/](https://docs.nftscan.com/)

Twitter: [https://twitter.com/nftscan\_com](https://twitter.com/nftscan_com)

​


NFTScan: an NFT data infrastructure.

_If you’re a developer, we’ve also created a tutorial to demonstrate these functionalities for you, you can get started right away with our dev doc _[_here_](https://cyberconnect.hashnode.dev/cybertube-a-decentralized-video-sharing-platform-built-on-cyberconnect-using-livepeer)_._

​

Web3 has brought forth a new era for social applications, with this one built on the principles of user sovereignty over and interoperability of data. However, to truly compete with modern-day Web2 social applications, these dApps (decentralized applications) must incorporate all forms of content that users have come to expect. Video has become an increasingly dominant medium for content, driving unprecedented levels of user engagement, communication, and sharing. As we transition to Web3, and in order to maintain user interest and facilitate adoption, it is crucial for dApps to offer video experiences that are similarly rich and immersive.

Over the past decade, we have witnessed the skyrocketing rise of video content, with platforms like YouTube, TikTok, and Instagram leading the charge. This growth is primarily driven by the visually captivating nature of video, its information density, the ease of passive consumption, and the increasing accessibility of high-speed internet connections and advanced devices. Video has also opened up new avenues to connect with people. Through live streaming, video-on-demand, and short-form content, people can now share their stories, talents, and expertise with a global audience, often leading to rapid growth in followers and engagement, and monetization opportunities. Video has become a driving force for user-generated content, advertising, and the development of online communities.

Web3 social is empowering individuals and communities to share, create, and engage in a more equitable and self-sovereign digital environment. As the Web3 social space matures and we onboard a wider mass user base, it is essential that dApps keep pace with the growing demand for video content. Integrating video capabilities into Web3 social dApps will enable users to continue enjoying the rich experiences they have come to expect while benefiting from the added benefits of decentralization.

Livepeer's infrastructure brings improved reliability and cost-effectiveness to video streaming. CyberConnect's tools enable developers to easily build composable applications utilizing user-generated content and social connections on the CyberConnect protocol while maintaining user sovereignty over and interoperability of data.

**By integrating Livepeer with CyberConnect's decentralized social graph, we can unlock the full potential of video in the Web3 social space.**

**This collaboration will facilitate seamless video streaming, transcoding, and distribution, and ensures that users can enjoy high-quality, low-latency video content without sacrificing the core principles of decentralization. As we move forward, the synergy between these technologies will play a pivotal role in shaping the future of social interaction, communication, content creation, consumption, and monetization in the Web3 era.**

With this integration:

- Developers can add video-sharing to Web3 social dApps
- Livepeer videos can be published/minted as EssenceNFTs in the CyberConnect protocol
- Users can collect videos as NFTs and creators can monetize their content through the use of CyberConnect's customizable and extensible middleware smart contracts.

​

If you’re a developer, we’ve also created a tutorial to demonstrate these functionalities for you, you can get started right away with our dev doc [here](https://cyberconnect.hashnode.dev/cybertube-a-decentralized-video-sharing-platform-built-on-cyberconnect-using-livepeer).

​

**About Livepeer**

[_Livepeer_](https://livepeer.org/primer)_ is a protocol for developers who want to add live or on-demand video to their projects. It aims to increase the reliability of video streaming while reducing costs associated with it by up to 50x. To achieve this Livepeer is building a p2p infrastructure that interacts through a marketplace secured by the Ethereum blockchain._

**About CyberConnect**

[_CyberConnect_](https://cc.me/)_ is a decentralized social graph protocol with identity sovereignty for mass adoption and network effects. It enables users to create profiles as the anchor of users’ decentralized identities. With CyberConnect, users own their social graph, content, monetization channels, and social data allowing them to travel across several dApps seamlessly without having to recreate their network on every new platform._

_CyberConnect protocol was launched in November 2021, as the first social graph protocol published. As of Mar 23rd, 2023, CyberConnect has _[_692k_](https://dune.com/cyberconnecthq/cyberconnect-link3-metrics)_ user profiles and _[_676k_](https://dune.com/cyberconnecthq/cyberconnect-link3-metrics)_ monthly active users who have done more than _[_4.1M_](https://dune.com/cyberconnecthq/cyberconnect-link3-metrics)_ transactions._

[Website ](https://cyberconnect.me/)| [Docs](https://docs.cyberconnect.me/) | [Twitter](https://twitter.com/CyberConnectHQ) | [Link3](https://link3.to/cyberconnect) | [Mirror](https://mirror.xyz/cyberlab.eth) | [Discord](https://discord.gg/cyberconnect) | [Telegram](https://t.me/CyberConnectOfficial) | [Newsletter](https://cyberconnect.me/#:~:text=Say%20Hi%20Here-,Subscribe,-CyberConnect%20is%20a)


Enable Video-sharing in Web3 Social - built with CyberConnect & Livepeer

At Wombat Exchange, we know that a great product is nothing without a strong community. As we continue to grow, we’re excited to introduce the Community Grants Program to fund community initiatives that contribute to our growth!

Join us and be a part of this exciting opportunity to contribute and take a share from the $100K pool. Let’s build a stronger community together!

![](https://miro.medium.com/v2/resize:fit:700/1*qeu7qFjQ65FXsQ7HRIGpGQ.jpeg)

# Wombat Exchange Community Grants

The program is set up to raise brand awareness which would encourage understanding and drive mass adoption of Wombat Exchange. We want to see some killer content from our users that really gets people excited and interested in Wombat Exchange.

## **Format**

There are NO limitations on the format! You could create anything, from articles to videos, podcasts, Twitter threads, Dune Analytics dashboard, and more. Quality is more important than quantity. We want high-quality contributions that positively promote our brand.

**Dos**

- Tag @WombatExchange if you’re creating content on social media channels including Twitter, YouTube and Medium
- To ensure visibility, add #WombatGrants to your content and submit the link on our [Discord’](https://discord.gg/wombat)s shill-and-share channel

**Don’ts**

You will be disqualified for:

- Plagiarism/ recycling content which has been posted beforehand (overviews, basic explainers…)
- Any content that is intended for misconduct, shilling, price pumping etc.
- NSFW wittiness or graphic

## **Reward**

The Wombat Exchange team will be making the decision on prize allocation. We may also adjust the grant guidelines if we see fit, but we’ll make sure to communicate any changes clearly.

The reward will be distributed in USDT, and the prize amount won’t be set in stone as we’ll be evaluating the quality of work. We want to make sure that everyone has an equal chance to win, regardless of the prize amount.

We’ll be announcing our picked content and its contributors regularly on our Discord channel and Twitter page. So make sure to follow us there!

# #BUIDL together

We truly believe that our community members are the driving force behind our success, and we’re confident that this grant program serves as an exciting incentive for all of us to contribute to the Wombat ecosystem.

At Wombat, we value everyone’s input equally. Let’s work together to #BUIDL a strong and vibrant community!

Don’t miss out on any of our sweet updates from Wombat Exchange — be sure to turn on those notifications on our [Twitter](https://twitter.com/WombatExchange) page!


Contribute To Earn: Introducing Wombat’s $100K USD Community Grant Program

Algorithmic stablecoins are another type of stablecoin, in addition to fiat-backed and crypto-backed stablecoins.

Background

Stablecoins are a crucial component of the crypto industry, especially in DeFi. As of 2023, the stablecoin market has shown significant progress, with a growing demand for stablecoins. This is evident in the chart below, which displays the total supply of stablecoins.

![https://www.theblock.co/data/decentralized-finance/stablecoins/total-stablecoin-supply](https://mirror.xyz/_next/image?url=https%3A%2F%2Fimages.mirror-media.xyz%2Fpublication-images%2FDQev3AWO06Sy6xo4rLaKb.png\&w=3840\&q=90)

https\://www.theblock.co/data/decentralized-finance/stablecoins/total-stablecoin-supply

The largest growth in stablecoins has been observed in fiat-backed and crypto-backed stablecoins. Additionally, there is another type of stablecoin called Algorithmic Stablecoin, which operates based on an algorithm.

### What is Algorithmic Stablecoin?

Algorithmic Stablecoin uses an algorithm called Rebase to maintain its stability through an elastic supply mechanism.

When dealing with Algorithmic stablecoins, it's crucial to understand the rebase rules, including:

- Rebase time: This varies between projects and may have different names.
- Rebase trigger price: The project must have a price range to trigger the rebase condition to increase or decrease the supply. For instance, AMPL has a +-5% price range.
- Oracle source: Usually, projects use Uniswap's TWAP as the oracle source for pricing.
- Maximum increase/decrease in supply.

### Algorithmic Stablecoin Classification

I will temporarily divide Algorithmic Stablecoins into three types: the single-token model, the multiple-token model, and the hybrid model.

### Single-Token Model

Algorithmic stablecoins under the 1-token model will work with a simple Rebase mechanism. The token price will be pegged at $1. Every time a Rebase occurs, there will be three possible outcomes:

- (1) If the token price increases by more than $1, the total supply will increase.
- (2) If the token price drops by more than $1, the total supply will decrease.
- (3) If the token price remains around $1, the total supply will remain unchanged.

When the total supply changes, it will directly affect the token holders, represented by the number of tokens that can increase or decrease corresponding to the Rebase result.\ The most prominent project and leader of the Algorithmic Stablecoin trend is Ampleforth (AMPL), followed by Yam Finance (YAM).

### Multiple-Token Model

The mechanism of operation of the Multiple-Token Model is still the same as that of the Single-Token Model, with the token price still pegged at $1. When a Rebase occurs, there are three possible outcomes:

- (1) If the token price is above $1, more tokens will be generated.
- (2) If the token price is below $1, debt will be created in the form of a bond.
- (3) If the token price remains stable at $1, no more tokens will be generated.

Projects following this model must have up to 3 tokens, including:

- Stablecoin.
- Shares tokens for Shareholders.
- Bond tokens representing the debt of the protocol.

Unlike the Single-Token Model, the Multiple-Token Model does not distribute the generated token equally to all holders. Instead, it will distribute to the participants in the protocol, such as shareholders, liquidity providers, and bond token holders, with different rates depending on the specific protocol.

Projects of this type include Basis Cash (BAC, BAS, BAB) and Dollar Protocol (USDX, SHARE, xBOND).

### Hybrid Model

The working mechanism of the Hybrid Model involves only one stablecoin. When the rebase is positive, the total supply will increase and be distributed to the participants in the protocol. When the rebase is negative, debt is issued as a coupon at a high discount to incentivize stablecoin holders to buy debt.

Examples of this type of model include Empty Set Dollar (ESD) and its fork, Dynamic Set Dollar (DSD).

### The Paradox of Algorithmic Stablecoins

For a stablecoin to have lasting value, it must exhibit a certain degree of stability to attract widespread use. Algorithmic stablecoins, in particular, must achieve a sufficiently large market capitalization (ranging from 1 to 10 billion USD) to ensure ample liquidity and prevent price fluctuations.

However, to reach such a sizable cap, the rebase loop must remain positive. This raises the crucial question of how to generate enough demand for stablecoins to maintain a price level above $1.

![](https://mirror.xyz/_next/image?url=https%3A%2F%2Fimages.mirror-media.xyz%2Fpublication-images%2FItF2X8l2ehOT39Ph4pFyQ.png\&w=1920\&q=90)

To solve this problem, it is necessary to incentivize the participants in the protocol by creating a reward program for those who provide liquidity through liquidity mining (single-token).

**Multiple-token:**

- Liquidity provider is entitled to % of stablecoins generated after a positive rebase
- Speculator: Buy debt as a bond at a high discount.
- Shareholders who hold shares tokens will receive more stablecoins following a positive rebase

**Hybrid:**

- Liquidity Provider is entitled to % of stablecoins generated after positive rebase.
- Speculators buy debt in the form of coupons at highly discounted prices.
- Stakers are entitled to a percentage of the stablecoins generated after a positive rebase.

However, these incentives are not sustainable in the long term and can lead to a 'death spiral' if participants lose interest or the incentives are no longer available.

### Closing Thoughts

Although the idea of Algorithmic Stablecoin has been around since 1974 and 2014, it wasn't until 2020 that many experimental and active projects began creating stablecoin products.

Therefore, these stablecoins are still very young, but the experiences of the above-mentioned projects have given us an overview of the paradoxes from which we can find good solutions, bringing us closer to the goal of creating fully decentralized stablecoins.

What are Algorithmic Stablecoins? Algorithmic Stablecoins: Classification and Paradox

![](https://miro.medium.com/v2/resize:fit:700/1*PQncYFg_4hb1KBZpetCnBQ.jpeg)

Brace yourselves, Arbinauts! Wombat Exchange is finally launching on Arbitrum on April 5th at 6AM UTC! We’re thrilled to bring our hyper-efficient stableswap and single-sided liquidity pools to all our new users on Arbitrum.

To make sure that everyone is ready to roll when we launch, we have put together some easy-to-follow tutorials on how to bridge your WOM tokens to Arbitrum, provide liquidity, and how to use Wombat Exchange in general.

Let’s take the first step towards the seamless and cost-effective stableswapping journey!

# Getting Started

To use Wombat Exchange on Arbitrum One, there are a few simple steps you need to follow:

Go to Wombat Exchange’s app:[ https://app.wombat.exchange/](https://app.wombat.exchange/)

1. Click “Connect Wallet”
2. Choose your preferred wallet option in the pop-up
3. Approve the connection on your wallet
4. Click “Wrong Network” If you’re not previously connected to BNB or Arbitrum One
5. Choose “Arbitrum” in the network selection pop-up
6. Approve the connection on your wallet and you’re good to go!

If you haven’t added the Arbitrum One network to your wallet, you either choose the network available in your wallet or add it manually:

 > Network name: Arbitrum OneNew RPC URL: [https://arb1.arbitrum.io/rpc](https://arb1.arbitrum.io/rpc)Chain ID: 42161Currency symbol: ETHBlock Explorer URL: [https://arbiscan.io/](https://arbiscan.io/)(More RPCs are available on [https://chainlist.org/](https://chainlist.org/))

# Using Wombat Exchange on Arbitrum

Want to know a secret? Swapping, staking, locking, and voting all work just the same on the BNB chain! You can learn more by checking out our included mediums and videos, and following the instructions provided:

- [Tutorial EP I: How to Swap Stablecoins on Wombat Exchange?](https://medium.com/wombat-exchange/tutorial-ep-i-how-to-swap-stablecoins-on-wombat-exchange-a0da30281ab4)
- [Tutorial EP II: How to be a Liquidity Provider on Wombat Exchange](https://medium.com/wombat-exchange/tutorial-ep-ii-how-to-be-a-liquidity-provider-on-wombat-exchange-7ee28eeed9bc)
- [Tutorial EP III: How to stake and earn $WOM](https://medium.com/wombat-exchange/tutorial-ep-iii-how-to-stake-and-earn-wom-268daf53dc30)
- [Tutorial EP IV: How to boost APR by locking $WOM](https://medium.com/wombat-exchange/tutorial-ep-iv-how-to-boost-apr-by-locking-wom-976e05834b66)
- [Tutorial EP V: How to vote and claim bribe rewards](https://docs.wombat.exchange/docs/getting-started/gauge-voting/vote-and-claim)

Note: Arbitrum uses Ethereum (ETH) as its gas token, not ARB!

# How to bridge WOM to Arbitrum

An important note is that **each chain in our ecosystem will operate independently**, and as such, BNB veWOM holders will not have the ability to participate in the Arbitrum governance system to earn bribes.

If you’re interested in transferring your WOM to Arbitrum to lock and mint veWOM, boost your yields, and participate in gauge voting, we’ve got you covered! We’ve partnered with Wormhole for multichain development and will demonstrate the transfer process step-by-step using their portal bridge.

Before we jump into that, to protect yourself, make sure to save the official token addresses of your wallet to avoid falling for scams!

 > WOM BNB Chain address: [0xad6742a35fb341a9cc6ad674738dd8da98b94fb1](https://bscscan.com/token/0xad6742a35fb341a9cc6ad674738dd8da98b94fb1)WOM Arbitrum address\*: [0x7b5eb3940021ec0e8e463d5dbb4b7b09a89ddf96](https://arbiscan.io/address/0x7b5eb3940021ec0e8e463d5dbb4b7b09a89ddf96)

Follow the steps outlined below to initiate the transfer:

1. Go to [https://www.portalbridge.com/](https://www.portalbridge.com/)
2. Choose the source and target chain as Binance Smart Chain and Arbitrum respectively
3. Connect your source chain wallet
4. Click on “Select a token” and select WOM
5. Enter the desired amount you want to bridge over and click “Next”

![](https://miro.medium.com/v2/resize:fit:700/1*0Qe1UDYM1UFNp3gg0rdsoA.png)

Next, to connect to your target chain and send tokens, follow these steps:

1. Connect your target chain wallet
2. Select your preferred payment method for gas fees then click “Next”
3. Click “Transfer” and confirm the transaction in the pop-up window
4. Confirm the transaction in your wallet to initiate the transfer
5. Wait for blockchain confirmations

To redeem your tokens:

1. click “Redeem” and confirm the transaction in your wallet

Congratulations, your tokens are now successfully bridged!

Remember: It’s important to remember that bridging funds across different chains always comes with some risk, so do your own research and proceed with caution!

# **Get ready for the launch!**

Mark your calendars for the big day! On April 5th, at 6 AM UTC, Wombat Exchange is taking off on Arbitrum. Don’t miss out on the excitement of exploring our cutting-edge stableswap at [https://app.wombat.exchange.](https://app.wombat.exchange./)

As we set out to revolutionize the world of DeFi, we invite you to stay tuned for more updates on our groundbreaking launch. Don’t miss out on the rush program and stay tuned for more updates as we continue to bring new features and innovations!


Chainbase

Supported Chains

Sector

Token