Whales Market: What Is $WHALES Crypto & Does It Have Any Future?

Whales Market is making headlines after the current crypto market bull run, but does it cater to investors’ expectations? Let’s find out.

The cryptocurrency market is booming, and the technologies in the space are getting better daily. Companies are working to solve various problems that investors and companies face. Whales market is such a crypto trading platform.

What Is The Whales Market?

Whales Market is a trading platform that simplifies exchanging assets between blockchains while ensuring safety and security. It specifically addresses the issue of scams and fraud in peer-to-peer cryptocurrency trading of pre-launch tokens and points before TGE.

Features Of The Whales Market

Whales Market is a trading platform that comes with a unique set of features. Here is an overview of what the platform offers. Whales Market allows investors to trade assets safely without revealing private keys. 

Moreover, the investor can convert the holdings into their smart contract, and the platform will manage your funds securely. The investors can access various asset types on the Whales Market platform. These include pre-listing token allocations, rewarding points, NFT whitelists, and vesting contracts over multiple blockchains.

On Whales Market, the user can discover asset prices before they officially launch. Additionally, Whales Market offers over 50 markets on their platform. It connects the user with over 10 blockchain ecosystems, including Ethereum, Solana, BNB, and Merlin. 

However, the WHALES token has a thriving community with over 25,000 active users and a total trading volume exceeding $70 Million. The investment opportunities are substantial with a total supply of 100 million WHALES tokens.

What Problem Does Whales Market Solve?

In P2P trading, when people exchange assets through social media or informal channels, they are often exposed to risks like the other party not fulfilling their promises. To tackle this problem, the whale market centralizes over-the-counter trades (OTC) on a single platform.

This is because there is no commitment among the parties involved in these trades. Moreover, the trading routes between them are often not penetrable and based on the routes between both parties.

Whales Market solves this problem by providing a single platform for OTC trading. It makes it easier for buyers and sellers to conduct mutually agreed transactions on-chain.

Additionally, capital is locked in smart contracts and is only released to the parties upon successful transaction settlement. This streamlines the trading process and significantly reduces the risk of financial loss due to deceptive practices.

Smart contracts are used to make trades safer on the platform. These contracts reduce the risk of scams by locking the traded capital until both parties fulfill their obligations. Whales Market operates on Solana blockchain technology, which ensures transparency and security.

What Is A WHALES Token?

$WHALES is the cryptocurrency token used to promote the transparent and fair growth of the Whales Market. It encourages people to participate and contribute to the platform’s development. 

WHALES tokens will not be sold this way, unlike many other digital currencies sold in advance (presale) to raise funds. To ensure fair distribution to significant stakeholders of the Loot Bot project, a percentage of the $WHALES supply is retrospectively airdropped. These go to to $LOOT stakers and $xLOOT holders upon launch.

The Tokenomics Of Whales Market

A fee is applied to each transaction carried out on the OTC platform. This fee is utilized for several purposes. Firstly, 60% of the fees collected are distributed to $WHALES token holders who have staked their tokens. 

20% of the fees collected are allocated to cover the ongoing development expenses of the platform. Moreover, 10% of the fees collected are used to buy back and burn tokens, which creates deflationary pressure. Additionally, 10% of the fees collected are shared with $LOOT stakers and $xLOOT holders.

Exchange & Trader On Whales Market 

Whales Market has introduced an innovative approach by incorporating smart contracts and ensuring secure and transparent transactions for buyers and sellers. This advancement streamlines the trading process and dramatically reduces the risk of financial loss due to fraudulent practices.

OTC Trading

To provide flexibility for buyers and sellers, the OTC Market has enabled offer creators to keep their offers private. This feature allows them to share the offer access link exclusively with individuals they negotiate deals with.

Private offers are not publicly displayed on the marketplace. These can only be accessed through the unique offer link provided by the offer creators. Every time any user or investor creates an offer, a fee is charged and added to your total deposit.

P2P Trading

P2P trading of pre-TGE token allocations has been a common practice for a long time. Moreover, it is primarily carried out through social groups, private messages, and some centralized platforms. However, these methods often need more security measures, exposing traders to the risk of scams and fraudsters who fail to deliver the promised tokens.

Whales Market has revolutionized this process with smart contracts, facilitating a mutually agreed on-chain transaction for buyers and sellers. This innovation makes trading more accessible while significantly reducing the risk of financial loss due to fraudulent activities.

Many projects now use a “points system” where users earn points for their community contributions. There is speculation among users that these points might eventually be converted into the project’s token. This aligns with a trend seen in recent significant airdrops.

Conclusion 

Whales Market simplifies exchanging assets between blockchains securely. It offers a variety of assets, including pre-listing token allocations, rewarding points, NFT whitelists, and vesting contracts. The platform centralizes over-the-counter trades, reducing the risk of financial loss due to fraudulent practices. Smart contracts ensure secure and transparent transactions for buyers and sellers.

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading in stocks, cryptos or related indexes comes with a risk of financial loss.