WOWswap is a leverage trading and lending protocol that lets users open positions in a single click. It operates on Ethereum, BNB Chain, Avalanche, IoTeX, Solana and Polygon. With WOWswap, you can buy and sell tokens using up to 5x leverage. It is a fully community-owned protocol built on a straightforward concept: liquidity providers set up a liquidity pool, and traders borrow from that pool to acquire as many as 5x more tokens. Fee income, lender and borrower interest rates, liquidation ratios, and other parameters are determined by holders of the WOW token, the protocol’s governance asset. For pricing, WOWswap relies on Chainlink Price Feeds to avoid executing on-chain activity on manipulated data, helping defend against potential price-manipulation attacks supported by flash loans.

When users stake WOW tokens, they receive rewards in proportion to holdings among all xWOW token holders, corresponding to the tokens they stake. Users may also use these tokens to join governance-related protocol updates. Voting on protocol changes is optional-holding xWOW tokens on its own is enough to keep earning rewards.