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What is Whales Market?

What is Whales Market?

Explore how Whales Market supports secure OTC trading of points and illiquid assets using smart contracts.

Summary: Whales Market is a premier OTC marketplace that leverages smart contracts to facilitate secure and trustless trading of illiquid assets. It provides early access to pre-market trades (e.g. Eigenlayer Points), supports over 10 blockchains like Solana and Ethereum, and ensures transparency and security through features like Whale Shield. 

The platform is currently the most popular onchain OTC marketplace for all things illiquid, boasting over 211,000 users and $145 million in trading volume.

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What is Whales Market?

Whales Market is recognized as the premier OTC marketplace for trading illiquid assets, such as Points from programs like EigenLayer, Hyperliquid, and Friend.tech, among others. It employs smart contracts to ensure trustless transactions where capital remains locked until successful trade execution. It caters specifically to the needs of users looking to trade assets not yet fully liquid in the market.

Furthermore, Whales Market provides an innovative solution for investors aiming to sell token allocations before their official token generation events (TGE). This capability allows participants to engage in pre-market trades, accessing emerging opportunities in a secure, trustless setting. 

The integration of advanced trading tools and support for over 10 blockchains, including Solana, Ethereum, Blast, Arbitrum and others, make Whales Market a go-to platform for speculators.

What is Whales Market?

How Does Whales Market Work?

Whales Market is an advanced Over-The-Counter (OTC) trading venue that facilitates secure and onchain transfers of illiquid assets like airdrop points and vesting contracts. It uses specialized smart contracts to uphold the integrity and security of transactions, ensuring that buyers and sellers adhere to agreed-upon terms before any asset exchange occurs.

Here’s a succinct breakdown of its operational process:

  • Smart Contract Integration: Users securely deposit their assets into a smart contract. This deposit guarantees and assures compliance from both trading parties.
  • Pre-Market Trading Features: Traders can engage in pre-listing trades, such as token allocations before the official Token Generation Event (TGE), using the platform’s Pre-Market section.
  • Multi-Chain Capability: The platform supports trading across various blockchains, enhancing its flexibility and accessibility for trading different types of digital assets.
  • Trustless Transactions: All trades are executed based on mutually agreed-upon conditions that are enforced by the decentralized nature of smart contracts, minimizing trust reliance.
  • Whale Shield for Security: This feature offers a robust protection mechanism against potential fraud, allowing traders to cancel transactions and reclaim their collateral in case of any dispute.
  • Decentralized Trading System: Whales Market promotes a decentralized trading environment that ensures transparency and reduces the risk of unilateral control or manipulation of asset transfers.
How Does Whales Market Work?

Whales Market Fees

Whales Market enforces a comprehensive fee structure across its transactional platform, ensuring the secure and transparent processing of trades. These fees are automatically managed by smart contracts and vary depending on the type of transaction, including creating offers, settling orders, and executing buys or cancels.

Fee Overview:

  • Closing an Offer: A fee is applied to the reclaimable portion of unused collateral or deposits for both buyers and sellers.
  • Settling an Order: When settling any buy order, a specific fee is charged based on the overall settlement amount.
  • Buying Tokens/Points: A 2.5% fee is levied on the total value of tokens or points purchased, applicable only after successful transaction completion.
  • Canceling an Order: In the event of cancelation due to non-compliance by sellers, a 2.5% fee is imposed on both the buyer’s and seller’s sides.

Additional OTC-Market Fees:

  • Listing Fee: Incurred when creating either buy or sell offers, this fee is non-refundable if the offer is canceled, though the original deposited amount can be reclaimed.
  • Selling Fee: Applied to sellers who fill buy offers, this fee is deducted from the received payment amount.

This structured fee system promotes fairness and reliability, ensuring all parties adhere to their transactional obligations.

$WHALES Tokenomics

$WHALES is the native utility token of Whales Market, designed to promote platform growth and maintain a fair incentive system. Operating on Solana with a total supply of 100 million tokens, $WHALES supports essential functions such as platform fee redistribution, development funding, deflationary buyback and burn policies, and integration with $LOOT staker rewards.

Here is the token distribution in accordance with their documentation:

  • Incentives: 65% (65,000,000 tokens), with linear emissions spread over four years, governed by a DAO.
  • Team: 9.5% (9,500,000 tokens), locked for 9 months with linear vesting across 36 months post-TGE.
  • Liquidity: 7.5% (7,500,000 tokens), with an initial 5% burnt during TGE and 2.5% reserved for centralized exchange listings.
  • Private Sale: 7% (7,000,000 tokens), releasing 50% at TGE, followed by a two-month linear vesting.
  • Airdrop: 5% (5,000,000 tokens), split 50% at TGE, with the remainder vesting over 12 months.
  • Marketing: 5% (5,000,000 tokens), dispersing 20% at TGE and the rest over 24 months linearly.
  • Security: 1% (1,000,000 tokens), fully allocated at TGE.
$WHALES Tokenomics

Bottom Line

Whales Market is a leading OTC platform for trading illiquid assets using a trustless and secure system powered by smart contracts. It enables users to engage in early trades of token allocations and points like Eigenlayer or Friend.tech points across over 10 different blockchains.

With robust security features such as the Whale Shield and a transparent fee structure, Whales Market supports pre-market and OTC trading effectively, ensuring all participants can operate in a fair, decentralized, and secure trading landscape.

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