The Wakaama project covers the LWM2M Protocol, CoAP, and DTLS layers of the LWM2M protocol stack for all three logical components: LWM2M Client, LWM2M Server and LWM2M Bootstrap Server. An application using Wakaama can fill any LWM2M roles or all of them at once.
The CoAP and DTLS layers may be provided by external components.
Regarding LWM2M Objects, Wakaama only covers the objects required to have a functional LWM2M stack: LWM2M Security Object, LWM2M Server Object and optionally Access Control Object. Other LWM2M Objects are added as plugins to Wakaama by the application.