WHALES Whales Market

Overview of Whales Market

Whales Market is a trading platform designed to simplify exchanging assets between blockchains while ensuring safety and security. It addresses the issue of scams and fraud in peer-to-peer cryptocurrency trading of pre-launch tokens and points before TGE (Token Generation Event).

Key Features

• Centralized OTC Trading: Whales Market centralizes over-the-counter trades on a single platform, making it easier for buyers and sellers to conduct mutually agreed transactions on-chain.
• Smart Contracts: The platform uses smart contracts to lock traded capital until both parties fulfill their obligations, reducing the risk of financial loss due to deceptive practices.
• Asset Variety: Users can trade various asset types, including pre-listing token allocations, rewarding points, NFT whitelists, and vesting contracts across multiple blockchains.
• Pre-Launch Market: Whales Market allows buying pre-TGE token allocations securely through on-chain transactions agreed upon by both buyers and sellers.
• OTC Market: The platform facilitates P2P trading of tokens and NFTs with stringent security measures, using smart contracts to address vulnerabilities and reduce potential losses.

Tokenomics

• Revenue Sharing: 60% of the fees collected are redistributed to $WHALES token stakers.
• Development Expenses: 20% is allocated to cover ongoing development expenses.
• Buyback and Burn: 10% is used to buy back and burn tokens, creating a deflationary mechanism.
• $LOOT Revenue Sharing: 10% is shared with $LOOT stakers and $xLOOT holders.

Ecosystem

• Token Emissions: Token emissions are linked to specific Key Performance Indicators (KPIs) related to trading volume.
• Voting Rights: $WHALES holders can participate in voting for these KPIs.
• Vesting Period: The team has a cliff period of 9 months and a vesting period of 36 months, allocating only 9.5% of the total supply to themselves.

Pros of Whales Market

• Diverse Trading Options: Whales Market allows users to trade various asset types, including pre-listing allocations, rewarding points, NFT whitelists, and vesting contracts across multiple blockchains.
• Secure Transactions: Users can deposit their holdings into a smart contract, enabling trades without the need to provide private keys, which enhances security.
• Early Access: Whales Market provides early investors, KOLs, and retail users with a platform to discover and trade pre-listing assets before they reach liquidity.
• Protection Against Embezzlement: The platform offers protection against sellers who might ghost buyers, allowing for order cancellation and claiming the seller's collateral as compensation.

Cons of Whales Market

• Market Volatility: Large trades by significant investors (whales) on Whales Market can cause significant price fluctuations, affecting market volatility and liquidity.
• Market Manipulation: Whales can manipulate the market by creating artificial demand or supply, which can impact smaller traders.
• Dependence on Whale Activity: The market can be heavily influenced by the actions of whales, which can lead to unpredictable market shifts.
• Complexity: The platform's reliance on smart contracts and blockchain technology might be complex for new users to understand and navigate.

Founders of Whales Market

The founder of Whales Market is Dexter, who also spearheaded the AI project gm.ai. Dexter has a background in OTC trading.

Investors in Whales Market

Whales Market is designed for various types of investors, including:

• Early Investors: These are individuals who invest in assets before they are listed on major exchanges, aiming to profit from potential price increases.
• Key Opinion Leaders (KOLs): Influential figures in the crypto community who often have a significant following and can impact market trends.
• Retail Users: Individual investors who buy and sell crypto assets for personal gain.

These investors use Whales Market to discover and trade various asset types, such as pre-listing allocations, rewarding points, NFT whitelists, and vesting contracts across multiple blockchains.

Halal Status of Whales Market

No, Whales Market is not considered halal due to several concerns:

• Lack of Transparency: There is a significant lack of clear, verifiable information about the project's founders, technical documentation, token distribution metrics, and verifiable development activity.
• Uncertainty and Gharar: The project's operations and utility are not clearly defined, leading to uncertainty, which is akin to gambling and is forbidden in Islam.
• Compliance with Shariah Principles: The project does not provide sufficient information to assess whether it adheres to Shariah principles regarding transparency, fairness, and legitimate value exchange.

Key Considerations

• Islamic Finance Principles: For a cryptocurrency to be deemed halal, it must possess inherent value, serve a real-world purpose, and avoid association with illegal activities or excessive risk.
• Project Overview: Whales Market describes itself as leveraging tokenized assets across Web3 and NFT markets, but lacks detailed information on its current operations and utility.