In our commitment to continually broaden our offerings, we are introducing a new project addition - Whales Market.
This article provides you with a comprehensive overview of the Whales Market, its native token WHALES, tokenomics, functionalities, and also explains how to trade WHALES tokens on CoinEx.
What Is Whales Market?
Whales Market is a unique trading platform designed to make swapping assets across different blockchains easy and secure. It tackles the common problem of scams and fraud in peer-to-peer (P2P) cryptocurrency trading of pre-launch tokens and points before TGE.
Typically, when people trade directly with each other through social media or other informal methods, they face risks like the other party not delivering what was promised. Whales Market addresses these issues by centralizing over-the-counter trades (OTC) on a single platform.
Here, trades are made safer through the use of smart contracts. These contracts significantly cut down the risk of scams by locking the traded capital until both parties fulfill their ends of the deal. The platform operates on Solana blockchain technology for transparency and security.
In 2023, to celebrate the launch of its mainnet, Whales Market gave away five million of its native WHALES tokens as a reward to its users, which accounted for 5% of their total supply.
What Is the WHALES Token?
WHALES is the crypto token for the Whales Market to encourage people to participate and help the platform grow. Unlike many other digital currencies that are sold in advance (presale) to raise money, WHALES tokens will not be sold this way.
Instead, the initial quantity of WHALES required to run the system smoothly will be supplied by the LootBot Treasury. This will make sure that the distribution and growth of WHALES tokens are done fairly and openly, without favoring early, large buyers.
WHALES Tokenomics
Here’s the breakdown of WHALES tokens allocation:
- Airdrop (including share to $LOOT stakers and $xLOOT holders): 5% of the total tokens (5,000,000) are gradually distributed over six months, with half available at the outset.
- Incentives: 65% of the tokens (65,000,000) are allocated for gradual release over four years to incentivize users.
- Team: 9.5% of the tokens (9,500,000) are reserved for the team, with a portion locked for nine months and the remainder released gradually over three years.
- Liquidity: 7.5% of the tokens (7,500,000) are allocated to provide liquidity at the start, with all of them locked or burned.
- Marketing: 5% of the tokens (5,000,000) are set aside for marketing purposes, with a quarter available immediately and the remainder vested over two years.
- Private Sale: 7% of the tokens (7,000,000) are allocated for private sale, with half available initially and the remainder released over two months.
- Security: 1% of the tokens (1,000,000) are reserved for security purposes, and available right from the start.
Key Features of Whales Market
Whales Market is a unique trading platform with several different features. Here’s an overview of what the Whales Market has to offer:
- Secure Trading: Whales Market enables you to trade assets safely without revealing private keys. Deposit your holdings into their smart contract and the Whales Market platform will securely manage your funds.
- Multi-Asset Trading: You can access various asset types on the Whales Market platform, including pre-listing token allocations, rewarding points, NFT whitelists, and vesting contracts over multiple blockchains.
- Explore Pre-Listing Assets: On Whales Market, you can find asset prices before they officially launch.
- Diverse Market Listings: Whales Market lets you choose from over 50 markets on the Whales platform.
- Multi-Chain Support: It connects you with over 10 blockchain ecosystems including Ethereum, Solana, BNB, and Merlin among others.
The WHALES token has a thriving community with a total trading volume exceeding $70 million and over 25,000 active users.
With a total supply of 100 million WHALES tokens, the investment opportunities are substantial.
What Are Other Tokens on Solana?
Solana is a blockchain that offers rapid transaction speeds and low fees. Solana ecosystem currently supports numerous cryptocurrencies, a few of which are listed below:
- Jito (JTO): Jito Solana (JitoSOL) is a token on the Solana blockchain enabling users to stake SOL and earn rewards through MEV-powered staking. This way, Jito optimizes blockchain efficiency while reducing MEV's negative impacts.
- Book Of Meme (BOME): The Book of Meme project, led by graffiti artist Darkfarms, aims to redefine Web3 culture by merging MEME, decentralized storage, and crypto trading. The $BOME token runs on Solana, Arweave, and IPFS for storage, with plans for expansion to Bitcoin.
- Myro (MYRO): MYRO is a meme coin project on Solana, featuring Raj Gokal's dog, Myro, co-founder of the Solana ecosystem. MYRO offers staking and community engagement utilities to grow the Solana ecosystem while earning revenue for its treasury to be transparent and trustworthy.
These are just a few of the cryptocurrencies built on the Solana blockchain. You can view more coins tagged with 'Solana' listed on CoinEx.
How to Buy and Trade WHALES Tokens?
CoinEx is a global cryptocurrency exchange trusted by over 5 million consumers globally, with 100% reserve. With over 900 tokens available, including WHALES, users may trade effortlessly.
WHALES was listed on CoinEx on February 1, 2024, at an initial price of $0.9989 USD, marking an impressive overall change of +85.05%. This indicates significant growth potential in the token's value since its listing, although the price of WHALES tokens may have fluctuated.
To buy and trade WHALES tokens on CoinEx, follow these steps:
- Create an account: Sign up for a CoinEx account.
- Deposit funds: After logging into your account, fund it using any supported cryptocurrency or other deposit options.
- Navigate to the WHALES trading page: Find the WHALES trading page by typing "WHALES" in the search bar.
- Choose a trading pair: Select the WHALES/USDT trading pair to exchange WHALES for USDT.
- Specify the purchase amount: Choose how many WHALES tokens you want to buy, either at the market price or at a specific limit price.
- Execute the trade: Review and confirm your trade to finalize your purchase.
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