Project Introduction
Whales Market is a decentralized over-the-counter trading platform that allows users to directly exchange assets across multiple blockchains, completely trustlessly and securely.
Product Forms
Currently, Whales Market offers two sub-products, namely Pre Market and Point Market.
Pre Market
Pre Market allows users to trade through Whales Market before the token generation event (TGE). The distribution of tokens before TGE has long been a common practice, mainly carried out through social groups, private messages, and a few centralized platforms. Whales Market facilitates the on-chain agreement between buyers and sellers through smart contracts.
Pre Market Product Interface
Technically, Whales transforms the traditional off-exchange "double-pledge" trading platform, where the buyer and seller each pledge an equal amount of funds to the Whales platform as collateral. After the token generation event, the buyer receives the seller's tokens through Whales, while the seller takes the pledged funds (the seller's collateral and the buyer's payment). Whales then collects a portion of the transaction fee as protocol revenue.
Pre Market Technical Implementation
Point Market
In the second half of last year, the two leading players in the Layer 2 and SocialFi fields, Blast and FriendTech, respectively introduced a points system, sparking a trend of points-to-future-token airdrops. Whales seized this trend and now allows users to trade points in the Point Market.
Point Market Product Interface
Similar to Pre Market, Point Market also utilizes smart contracts to facilitate on-chain negotiations between buyers and sellers.
Development Status
As of now, Whales Market has over 31,000 users and a trading volume exceeding $110 million. It effectively meets the demand for pre-TGE trading by providing a platform and smart contract-based trading scenarios, while profiting from each transaction by charging a fee. Whales also uses this profit model to empower the platform's native token, $WHALES.
Whales Market Business Data
$WHALES
$WHALES is primarily used to expand the growth of Whales Market. With a total supply of 100,000,000 tokens and no public presale, the initial liquidity was provided by LootBot Treasury, which retrospectively airdropped a portion to $LOOT stakers and $xLOOT holders.
$WHALES serves the following purposes:
1) Use of $WHALES token:
- 60% of transaction fees are distributed as staking rewards to $WHALES token stakers
- 20% of transaction fees are allocated for ongoing development expenses
- 10% of transaction fees are used for token buyback and burn to drive deflation
- The remaining 10% of transaction fees are shared with $LOOT stakers and $xLOOT holders
2) Governance function:
- Community members can use $WHALES to participate in voting on official and community proposals
Economic Model of $WHALES
Team Background
In November 2023, LootBot announced a strategic partnership with Whales Market. In fact, Dexter, the founder of LootBot, is also the founder of Whales Market. LootBot, launched in the summer of 2023, is an automated airdrop interaction product with significant value in the airdrop mining field. The launch of Whales Market is a significant horizontal expansion in the airdrop mining sector, from helping users mine potential airdropped tokens to facilitating their trading. The Dexter team has consistently focused on the needs of these token farmers.
Founder of LootBot and Whales Market
Conclusion
As a decentralized over-the-counter trading platform serving the pre-TGE token trading scene, Whales has already achieved a certain scale, with over 31,000 users and a trading volume exceeding $110 million. The $WHALES token also exhibits relatively good growth and governance model. Looking ahead, the pre-TGE trading scene has yet to be deeply explored, and Whales Market is expected to continue attracting more users, expanding market share through innovative products and ongoing development, and maintaining a competitive advantage in the trading market.
ForeTell is a leading research institution focusing on Solana and covering multiple emerging potential tracks such as Bitcoin L2. ForeTell has been committed to providing independent and objective project research reports, creating an all-in-one ecosystem service platform for users. The investment research articles and reports published here are for internal investment research and training purposes only. These pieces of information are based on independent and objective research on Solana projects, aiming to provide comprehensive information about the Solana ecosystem. However, please note that these reports do not constitute any form of investment advice. Users should carefully and independently assess their personal situation and risk tolerance before taking any investment action, and seek professional advice when necessary. ForeTell is not responsible for any actions based on these reports, including investment losses or risks resulting from reliance on this information.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
