About

Whales Market is a decentralized over-the-counter (OTC) trading platform for digital assets across several blockchains.

History

Whales Market was founded in December 2023 by LootBot, a Telegram bot protocol for automating onchain transactions, as “a strategic move…to develop standalone, franchised projects that complement the LootBot ecosystem.” LootBot’s protocol features assist users in “setting up wallets and executing airdrop farming strategies” across various supported blockchains.

Notable development milestones include:

• The Points Marketplace was announced on Jan. 5, 2024. The OTC Market was subsequently announced on Jan. 10, 2024. The first mention of the Pre-Market occurred on Jan. 15, 2024.
• On Feb. 19, 2024, the first epoch of WHALES revenue sharing for LOOT and xLOOT stakers occurred.
• On March 6, 2024, the project team announced the launch of Whales Market DAO. In the future, WHALES will be used in the project’s planned governance mechanism via the xWHALES token. A commercially reasonable search found no verifiable evidence of operationality or a planned release date for governance.
• On March 11, 2024, 5.00 million WHALES (5.00% of the maximum token supply) were airdropped to LOOT and xLOOT tokenholders. WHALES tokens were distributed to “the Solana wallet linked to [each LootBot user’s] EVM address.”

The project’s roadmap details the following planned milestones:

• Q2-Q3 2024: The project team will introduce a “framework for DAO-controlled fees and emission,” an “OTC market for vesting allocations,” “EVM Chains expansion,” and a “Telegram Bot version release.”
• Q2 2024 (and beyond): The project team will implement “Cosmos chains expansion,” “arbitrage strategies,” and “R&D on further features.”

Source: Roadmap